September is not among the Portugal Golden Visa Program’s best performing months. Similarly, the program experienced a fall in September 2020 when compared to August. Yet, a more accurate conclusion requires a comparison between the months of September of each year. In that case, the data suggest that Portugal Golden Visa Program recorded its best September yet.
Portugal’s September 2020 Performance with Numbers
September of 2020 did not shock the followers of the Portugal Golden Visa Program. 78 main applicants took advantage of the program in September. These applications included 145 dependents. 223 issued permits in total generated EUR 43.5 million into the Portuguese economy. These numbers mean that September has been a slightly slower month compared to August.
September 2020 Has Been the Best September the Program Ever Recorded
Since the start of the Portugal Golden Visa Program, September has always been among the slower months. Every year without exception, September recorded lower profits compared to July, and August. This did not change in 2020 either. July and August performances of the program exceeded September’s numbers. However, this does not paint an accurate picture of the program’s monthly performance.
For a more accurate framework, September 2020 should be compared to Septembers of previous years. This point of view changes the entire picture. This new perspective posits September 2020 as the highest-performing-September since the program began. Considering the threat of Covid-19, the September performance of the Portugal Golden Visa Program shows how resilient the scheme is.
Portugal Golden Visa Manages to Bag an Average Year through the Pandemic
Portugal Golden Visa Program generated EUR 540 million in the first eight months of 2020. Extrapolated to the entire 2020, the trend of the program predicts an income of EUR 720 million. This overall income means that 2020 is going to be an average year for the program. Considering the global measures taken to cope with Covid-19, this average performance by the Portugal Golden Visa Program becomes a remarkable showdown.
The Trend of Diversification Continues
Most of the income generated by the program since its inception has come through the main real estate investment option (EUR 500,000). Also, the overwhelming majority of the investors were Chinese. These two trends, however, started to change in the last few years.
In 2016, around 7% of the investors chose options other than the EUR 500,000 real estate investment option. In 2020, this ratio went up to almost 35%.
Chinese investors still lead the charts in investment amount and volume. In 2020, too, most investors were Chinese. However, the trend shows that investors from other nationalities increase their share. Chinese investors constitute over 50% of the total number since the program’s inception in 2012. However, in 2020, Chinese investors constituted around 25% of the total number.