Since 2012, Portugal’s Golden Visa programme has now attracted over €2.7bn in real estate investment (to end of March 2017) with China currently leading as the country’s main investor and Brazil following in second place.
After a record high number of residence permits were issued in Portugal in 2014, numbers dipped in the following year then rose again in 2016. This year a large number have already been issued and statistics show that 2017 should be another record breaking year with an estimated 30% increase from 2016.
The Golden Visa programme allows nationals of countries outside the Shengen area to acquire a residence permit in Portugal via investments in Portuguese territory. Residence permits take four months to acquire, with the programme paving the way to full residency and citizenship within six years. An initial investment of €500,000 must be made and visas can be extended to immediate family members.
Portugal’s property market thrives
The property market in Portugal is booming, and Lisbon is the central hub for investment. Over 4,800 ARI applications have been successful since the scheme was launched back in October 2012. The vast majority were obtained through investing in property and, of those, more than 90% relate to property purchases within and around Lisbon.
According to Confidencial Imobiliário, property prices went up 46% between 2014 and 2016 and the country is continuing to attract investors from around the globe. We expect prices to continue to rise by a minimum of 5% each year over the next five years, making now the perfect time to invest in this thriving city.