Since the release of the Golden Visa programme in October 2012, the real estate market has shown significant signs of growth. According to a recent report published by Portugal’s National Institution of statistics, 2016 saw a house price rise of 7.6% in Q3 of 2016 compared to the previous year. There is no doubt that the influx of international investors in Portugal, driven by the Golden visa scheme, has been a major contributing factor to these price increases.
During the period of July 2016 – September 2016 a total of 35,535 property transactions took place at a value of €3.6 billion! This was a 15.8% increase compared to the same period in the previous year.
Since the European recession back in 2012/2013, Portugal has seen a steady price increase trend, with an average rise of 4-5% per annum since Q1 of 2013. That’s nearly a 14% price increase overall to date.
Portugal’s Golden Visa programme has played a big part in boosting the overall economy for the country and there is no sign of the surge slowing down as the scheme remains a firm favourite with those looking for a flexible residency scheme in Europe. To read more on Portugal Golden Visa programme please see here.
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2016 proved to be La Vida’s best year yet, generating sales from clients in over 40 different countries worldwide. Our specialist consultants, based in our UK head office, processed over 10,000 enquiries for the various golden visa programmes, providing our clients with initial free advice about the residency and citizenship options available.
We also saw our network of partners grow in 2016 and La Vida now work with over 30 key partners throughout Europe, USA and the Caribbean; including real estate developers and legal firms that help support our clients with their investments and visa applications.
Our web presence remains stronger than ever through our main domain www.goldenvisas.com and is constantly growing as La Vida invests heavily in advertising and marketing. In 2016, La Vida’s adverts were seen over 40 million times and our content and programme advice was viewed by over half a million readers.
La Vida offers free comprehensive and balanced advice to clients on a selection of residency and citizenship programmes via real estate investment. We have built our real estate agency presence in Europe over the last 12 years and our property selection now stretches across five countries. The Portuguese Golden visa scheme remains one of the firm favourites with our investors due to its flexibility and strong property market. Please contact our team today for a free consultation on which programme may be best for you.
2016 looks set to have the highest ever number of approved Golden Visa applications, running at over 2000 investors per annum. Last year we saw a drop in numbers due to the delays in SEF, however a new fast track procedure which SEF implemented earlier this year has drastically improved the number of approved applications.
The Government also introduced a reduced Golden Visa option this year, at €350,000 for renovation projects. Certain terms and conditions apply for this route and options at this limit are taking time to produce. These type of projects can be complicated and need to be fully managed, but it’s a great alternative for investors who are not able to invest at the €500,000 limit. La Vida has sourced some very interesting options for clients this year and we plan to see more renovation projects come to the market in 2017.
The property market in Portugal has seen significant price rises over the last three years due to Golden Visa fuelling growth and demand. Developers are reluctant to offer discounts and the best properties are sold long before completion.
We have recently updated our Real Estate portfolio with a number of new options which we welcome you to review.
The number of applicants for the Portuguese golden visa programme has risen in 2016 compared to the previous two years. In 2015 the programme was postponed over the scandal that led to several arrests while the government introduced enhanced procedures for checking applications. A fairer comparison is with the previous year and the numbers for the first six months of 2016 are already on track to beat 2014’s record year.
La Vida has seen a surge in interest in several of our high profile real estate projects in Lisbon in recent months on the back of a robust market that is seeing prices rise from historic lows and one that shows promise of good capital gains in the coming years.
Sottomayor Residences Lisbon
Investors in the early days of Portugal’s Golden Visa programme will have seen average rises of over 10% in their investments according to the latest government figures.
Property prices in Portugal rose 5.1% in the first quarter of 2016 compared to one year ago. Prices are on average 10.2% higher than the first quarter of 2013 back at the start of the visa investment programme.
The golden visa programme has seen around 5,000 applicants invest in property in Portugal, mainly in Lisbon, since its inception in 2012.
Central Lisbon developments such as Sottomayor close to the Avenida de Liberdade are experiencing strong demand from international investors seeking the investor visa.
We have dealt with many clients for real estate investment for the Portugal Golden Visa and other country programs too, such as Spain and Cyprus. These investment visa programs are very different to traditional immigration schemes. They allow clients who have the financial resources to achieve far more flexibility with their travel and tax arrangements. They do not require applicants to move countries but they give the security and insurance of residence, should it be needed at any time. Please see our Top 10 Reasons Guide for the Golden Visa on our main website. Follow the link to read more.
Portugal continues as the favourite destination among our residency visa investors as we enter 2015. The golden visa programme in Portugal attracts investors seeking residency visas due to its flexibility and relatively low cost. An investment of just €500,000 in real estate secures a residency visa but it is the additional benefits that put Portugal ahead of other countries that La Vida offer to our clients. A golden visa in Portugal allows freedom to travel throughout the EU Schengen visa zone and the ability to apply for permanent residency (5 years) and citizenship (6 years) without needing to live in Portugal. In fact investors need spend only two weeks every two years in Portugal to renew the visa. Compare this to other countries in Europe offering similar schemes such as Spain and Greece that require investors to live in the country for some years before citizenship can be applied for. Citizenship in Portugal and an EU passport means the holder can freely live and work anywhere within the European Union. For full details see the La Vida golden visas website.
La Vida Exhibition Stand
La Vida will be visiting China in December to promote the Portuguese golden visa along with several other investor visa programmes in Europe. Portugal is currently the number one destination in Europe for investors seeking a residency visa through investment. La Vida promotes several programmes including the real estate investment schemes in Spain, Greece, Malta, Cyprus and also the residency bond programmes in Hungary and Bulgaria. However Portugal is often the preferred choice for clients because of its low investment cost and the flexibility it provides for potential EU citizenship. We will be exhibiting at the Luxury Property Show in Shanghai from the 12th to 14th of December. It follows on from our recent exhibition in Abu Dhabi at the International Real Estate Investment Show.
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