“Golden visa and a favorable tax regime is the cherry on the cake to attract new investor”
According to the President of the Real Estate Association, international investors are back to Portugal buying, mainly, deluxe property.
What is bringing foreign investors back to Portugal?
Several programs, like the Golden Visa are contributing to a growing demand for deluxe real estate located in Lisbon or along the Cascais coast. There’s also another program that exempts retired people from personal taxes (Fiscal Regime for non-Residents) that is creating a growing demand in places like Algarve or even the Douro.
In addition to these programs, the main reason for this interest has to do with the intrinsic value of the properties available. These are secure and with good valuation perspectives. To many investors I have talked to this value increase outlook is the cherry on the cake.
What has been the role of the ‘golden visa’ program?
This program has been quite important. First because, brings a significant amount of investment to the market that would be difficult to reach otherwise. Given the economic scenario in the country the top quality / deluxe properties would have been difficult to sell.
What’s your assessment of the first semester of 2014?
My assessment is quite positive. 14% of the real estate transactions completed in the first semester involved foreign investors, mainly Chinese, British, French, Germans, Brazilians and Spanish.
Source: Sara Piteira Mota, Económico