Portugal, which has the lowest crime rate in Europe, continues to be the number one choice of thousands of investors from all around the world. Foreign investors who have bought a house from Portugal may apply to Portuguese Golden Visa which grants them a residence permit and the European citizenship in the long term. The foreigners state that they are welcomed with a very positive attitude.
How is the Portuguese Real Estate Market?
According to experts, while many countries are currently in a turbulent political environment, Portugal stands out from other countries by its peaceful atmosphere, developed economy, high skilled labor and high quality living conditions.
In retrospect, low birth rates and declining population problems were the most important problems to be solved. The Portuguese government has decided to take steps towards these issues and maintained a growth rate above the Eurozone average for the last two years. The recently introduced Golden Visa Program was successful at solving the country’s demographic problems. The program provides tax cuts to skilled professionals and therefore, attracts many foreign high net, worth individuals. Portugal Golden Visa offers a residence permit for non-EU investors who make a minimum of € 500.000 real estate investment.
The Portuguese Government advocates the healthy growth of the market, while they are making sure to take necessary actions in preventing potential bubbles. This makes Portugal different than the rest of European countries in its approach.
Portugal Golden Visa in Numbers
Looking at the figures of this year, steady growth is maintained for three consecutive years, the number of foreign investors registered in Portugal has reached nearly half a million. Foreign investment projects generated around 3,000,000 Euros in 2018, almost the highest number for the last 10 years. Between 2015 and 2018, the number of such projects increased by 161% reaching the fastest growth rate in Western Europe.