- September 26, 2017
- Posted by: CIP Journal
- Category: Golden visa
The Portugal’s Golden visa programme attracts large number of investors from Brazil and South Africa interested in buying EU residency in Portugal.
The Golden visa programme in Portugal started in October 2012 to boost the economy and bring growth to real estate sector.
Golden visa July 2017 statistics show investments from Brazil and South Africa rank second and third in terms of popularity.
- China – 3472
- Brazil – 432
- South Africa – 201
- Russia – 179
- Lebanon – 103
The Golden visa programme in Portugal offers residency with minimum of 350,000 euro property investment in Portugal (Lisbon or outside lisbon). In Lisbon the capital the minimum real estate investment is 500,000 euros.
The most popular locations outside lisbon to buy a property in Portugal are
Investors are not required to live in Portugal after receiving the golden visa but are required to visit Portugal atleast once a year.
According to INE statistics, house sales in Portugal up by 0.8%
Portugal will grant a 5-year residency permit to non-EU citizens who buy a minimum of €500,000 worth of property. The permit allows holders to work or study, as well as to travel in Schengen countries. They can opt to apply for permanent residency after five years.
In Lisbon metropolitan area, property prices were up by 2.59% (1.72% in real terms) y-o-y in October 2016, to an average of €1,308 (US$1,367) per sq. m.
House prices rose in all the country’s 24 urban areas. Santa Maria da Feirarecorded the highest increase of 12.2% during the year to October 2016, followed by Oeiras (10.4%) and Barcelos (10.4%), Odivelas (9.9%), Porto (9.7%), Villa Franca de Xira (9.6%), Cascais (8.1%), Leiria (7.8%), Loures (7.7%), and Amadora (7.6%).
The resident population in Portugal, 20% are Brazilians and Chinese 5.7% according to 2016 report
In Lisbon, foreigners live in the following districts