Today we invited Renata Abulaesova, Senior Consultant of DRP Advisers to discuss the latest news and trends in the program.
This is very exciting news, both for investors and lawyers, as well as for real estate developers. Many of our clients were waiting for the SEF platform to be updated. Our legal team has already submitted dozens of applications and many investors immediately decided to proceed with their chosen investments and the Golden Visa Process.
Sure, the Portugal Golden Visa program, also known as the residence permit for investment activity, is a residency by investment scheme designed for non-EU citizens. It is the fastest program to obtain an EU residence permit through investment activity in Europe.
The most charming feature of Portugal as an investment opportunity rests in its ability to offer citizenship after just 5 years – all without the need to stay in the country. What’s more, the requirements for a Golden Visa in Portugal are substantially simpler than those of other countries offering permanency via investment.
Real estate, venture capital funds, capital transfers, company formation, and donations are examples of investment categories. The most popular option has always been real estate, and 90% of clients are investing in properties.
There are many reasons why people invest in Portugal; each has their own reason.
For me, it was 365 days of sunshine, incredibly beautiful nature, open and friendly people, and just the welcoming feel that Portugal gives you in general. It is an absolute dream place for a holiday home.
Apart from that, from investment perspective, currently it’s one of the best places in Europe. Just to give you an example, from 2016 to 2022, in the cities of Lisbon & Porto, the average residential asking prices increased by 49% and 83%, respectively. 2016 to 2022, in the cities of Lisbon & Porto, the average.
And of course, the possibility of obtaining family European Residency & Citizenship without the obligation to reside in the country full-time. People think of Portugal as a safety net: a good place to raise children, spend holidays, conduct business, retire, etc.
Professionals or small/medium business owners, concerned about future and safety of their families and children, some clients come from politically unstable countries and Portugal is a perfect, calm, sheltered place for them. A lot of business people who need freedom of movement and no visa restrictions, as well as retired couples who consider Portugal to be a dream destination for permanent residence.
Our clients come from all over the world, but I can tell you that the top countries for Golden Visa Investments now are the USA, China, Brazil, Turkey, and UAE.
In the last five years, the real estate sector in Portugal has experienced great changes, with a strong upturn in real estate transactions and a rise in housing prices. We expect prices to continue growing at least for the next few years, which makes it very attractive for investors. The demand for properties is much higher than supply, so the market is relatively limited and exclusive.
In regard to Golden Visa, it is an initiative set up by the Portuguese government to boost the economy through foreign investments, and it is very important for us to attract foreign investors. Obviously, this program will not exist for perpetuity. That is why it’s important to start the process as soon as possible.
DRP is the leading pioneer in Portuguese real estate consultancy and the Golden Visa Program. Since 2015, our company has grown and has become a one-stop-shop solution for this program, offering bespoke services, expert knowledge, and custom-tailored services towards client needs. Our company works directly with you to provide expert advice on the investment and acquisition of property within Portugal—suitable for your investment requirements.
We use our extensive connections within the industry to access suitable investment opportunities ahead of the competition. Early access to the Portuguese property market can be highly competitive, so early access is crucial. We find prime properties that are hand-picked by our leading partners. We offer expert advice on the locations most appropriate for your investment requirements, guiding you on how rental yields and capital values vary from area to area.
WE HAVE THE RIGHT PROJECT FOR YOU, LET’S DISCUSS
+351 912 585 085