Portugal currently has one of Europe’s most popular immigration schemes, granting investors the right to live, work, and study in the country and visa-free travel within the Schengen Zone. If you are considering taking advantage of the Portuguese Golden Visa, now is a smart time to get started because changes to the programme are being set into motion in January 2022, which means investors will no longer be able to purchase residential properties in high-density areas such as Lisbon and Porto.
Though the good news is that anyone who submits an application before the 1st of January 2022 will be eligible to take advantage of the current application terms. Read our CEO and Managing Director’s full statement and advice here.
Covid, like any other aspect of life, has wreaked havoc, with investment levels dropping by 12.8% in 2020. Despite that, the Portuguese residency-by-investment programme still raised €647 million last year. Given the devastating effects of the coronavirus outbreak on other economies and real estate markets around the world, Portugal still managed to achieve impressive results. This further demonstrated that, while the real estate industry may fluctuate due to natural factors such as disease outbreaks, or even political and governmental reasons, it never actually deteriorates or drops over time.
What’s more, Covid has prompted investors to reconsider the reasons behind their investments and, as a result, many are now placing a much greater focus on their family, rather than just the benefit to their professional endeavours.
Thus, Portugal has grown incredibly popular, with the opportunity to invest in the real estate industry not only laying solid foundations for family life but also providing citizenship to family members and dependent children. Hence, it’s easy to see why more and more people are flocking to Portugal, far beyond its geographical allure and the possibility of visa-free travel across Europe. Diversity is also a primary consideration when investing in Portugal.
The country offers several investment routes, being one of them the 350K Golden Visa option, which saw a brimming growth in 2020, as applicants became aware of the highly competitive market that Portugal, specifically Lisbon, has turned into.
It becomes important to mention that, with the increase of international demand and due to the changes to the programme, the 350K Golden Visa option is undergoing a shortage of supply, meaning that by the end of summer 2021, properties eligible for this option will no longer be available in premium areas like Lisbon or Porto - which are cities that offer huge recapitalisation and profitability to those who invest here. The time is now to benefit from the full options of investment in the most cost-effective way, as there are still eligible properties for investors to select from and find the best investment route before the end of the year.
It’s clear that demand has started to increase as now there’s only a seven-month window to work with. As such, real estate investors who plan to buy properties in Lisbon, Porto, or coastal cities are speeding up. There’s also been a great surge from Hong Kong as investors there felt they may not have enough time to do the transaction because the process of obtaining a Golden Visa will usually involve onboarding, getting a Portuguese bank account and fiscal number, making the investment, gaining pre-approval, followed by a biometric visit and only then the issuing of the Golden Visa itself.
It becomes important to mention that the real estate market in Lisbon has seen a growth of 10 to 15% per year, meaning that the historical centre has gone up at least 50% over the last 6 years and has doubled in some areas. This, all in all, has turned the Portuguese capital into the first choice for residency-by-investment for those wanting to invest in the sunny capital. A motivation for investors to pick this avenue is also the possibility of renting out the property they purchased, and its easy-to-comply requirements. You can learn more about all the requirements for the Portugal Golden Visa here.
What’s more, with Portugal Homes’ After Sales service, overseas investors have the chance to have their investments looked after alongside capable professionals who are ready to offer the proper assistance and able to guarantee both the investment’s safety and a healthy return on investment.
We have created a unique service for our investors through the After Sales Department. Our team will:
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
Ryan is very professional, but also friendly and knowledgeable about the Golden Visa market. He was also flexible as travelled from the Algarve to meet me in Lisbon to stand in for 1 colleague at short notice.Investor from UK
Portugal Homes did a great job keeping me up to date with progress on my new home construction purchase by providing regular and comprehensive reports. This helped to ease anxieties about doing a home purchase in the midst of a global pandemic.Investor from the USA
Although through Zoom, we established great confidence in George's integrity. [It was] important for us to have confidence in the staff's ability to feel aligned in views.Donald Collie from Australia
The process was very quick and clear. I got all the information I needed in the first hour. The experience was perfect.Tomoko Inoue from Japan
Overwhelming. Luisa has exceeded our expectations on all levels. Trust was established immediately. Enhanced by super friendly professionalism. The networks to banks, accountants, lawyers was seamless. there is not enough space here to write all the positives, enough to say we are making an offer and we only arrived 4 days ago. Its impossible to improve from perfection!John Mulroe and Wiebke Bock
Thank you. Lovely experience with all of the staff. George was very helpful, knowledgeable and had a good grasp of the financials. Will recommend Portugal Homes to friends. Also excellent experience with the After Sales - very helpful.Nadia Webb