Portugal’s Golden Visa ProgramSince the global financial crisis of 2012, Portugal’s property market has been on the uptrend. According to the Global Property Guide, property prices rose by 6% in 2018. Portugal’s property prices rose in 23 of the 24 counties and Porto recorded the highest increase of 15% followed by Amadora at 14%. In spite of this, Portuguese properties are still very affordable compared to other countries. The average price is about € 1500 per m2. Not surprising, the famous seaside town of Algarve and Lisbon( the capital of Portugal) commands premier prices. 178,691 properties were sold in 2018 which is 16.6% higher than in 2017. Industry experts are predicting that the real estate boom will continue over the next years. There maybe a few reasons for the increasing rents and property prices.
- More EU investors are flocking to Portugal;
- Portugal Golden Visa program are bringing in investors;
- Portugal’s Non-Habitual Resident scheme attracts high net worth individuals to invest in Portugal;
- Since the Global Financial crisis, more Portuguese are returning to Portugal.