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.