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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