In the first quarter of 2021, 205 out of 228 Portugal Golden Visas were issued through real estate investment. As real estate investment retains its popularity, other options are getting a lot of attention too: Golden Visas in Portugal received through the fund investment route in Q1 2021 is six times higher than Q1 2020.
LISBON, Portugal, May 3, 2021 (Newswire.com) – Golden Visas issued in Q1 2021 received €350,000 through real estate investment in the Urban Renewal area, 40 percent more than Q1 2020. Charles Taylor Harris, Executive Director at Get Golden Visa, advises that demand for housing in Lisbon’s Urban Renewal area is particularly on the rise. Harris adds, “The recent report by Confidencial Imobiliário shows that the housing in Lisbon’s Urban Renewal Area (ARU) welcomed €739,1 million international investment in 2020, even during the pandemic.”
40 Percent of the Housing Investment in Lisbon’s ARU Is From International Capital
The Chinese are leading the international investment in Lisbon’s ARU, with 24 percent. They’ve increased their investment by 33 percent compared to 2019. The following nationalities are the French, American, British and Brazilian. According to the report, international buyers invested €490,500 per operation and 40 percent of the housing investment is from international investments.
Americans Invested 70 Percent More in Comparison to 2019
North Americans have increased their investment in Lisbon by 70 percent compared to 2019, as declared in the same report. According to Harris, healthcare is a huge motivation for Americans who are looking forward to overseas retirement. Another incentive is the cost of living. On average, the cost of living in Portugal is 30 percent lower than that of the USA.
Demand to Increase Before the Law Changes
Harris reports that the demand is going to increase as the rules of the program are going to change in 2022. Real estate investors who plan to buy properties in Lisbon, Porto, or coastal cities are speeding up. As of December 31st, 2021, property acquisition in these areas will no longer qualify investors for a Golden Visa.
The Most Affordable EU Citizenship Program Attracts Investors With a Good ROI
Harris explains that another motivation for the real estate investors to invest in Portugal is to rent out the property they purchased. They can rent out their house on a short- or long-term basis, even before they receive their residence permit. The low stay requirements to qualify for citizenship also add value to the program’s affordability.
You may find details on the program at https://getgoldenvisa.com/portugal-golden-visa-program
About Get Golden Visa
Get Golden Visa helps investors and their families become global citizens by investing in residency and citizenship programs. Whether a property investment or a fund subscription they help their clients find the best solution that caters to their specific needs. Since 2014, they’ve provided more than 32,500 prospective investors with professional advice.
Source: Get Golden Visa