In Portugal it is now possible to obtain the golden visa through a reduced investment of just €350,000. To qualify, investors will need to purchase real estate which is over 30 years old and requires renovation work.
Created in 2015, this program aims to rejuvenate areas of Portugal’s capital city yet maintaining the original appearance and architectural style of Lisbon’s historic buildings.
Whilst the choice of such projects is more limited than those at €500,000, La Vida are able to offer a number of excellent options which tick all the right boxes to qualify. Projects need to be approved as a 65-A (d) category building and it is crucial to ensure the right project and legal advice is obtained before embarking on such investment.
It is not quite as simple as just purchasing an old property and undertaking some light DIY as some may think. Renovation contracts and building licenses need to be in place before any Golden Visa application can be submitted. This would be a logistical nightmare for international investors to try and organise themselves from overseas. La Vida have partnered with an expert developer who will take care of and oversee the whole renovation contract on behalf of the buyer.
La Vida has experience of many applications for the €350,000 reduced initiative from several successful project’s.
Please contact us for more details on our real estate investments.
The most recent property price index report for August 2017, published by RICS, is showing very promising signs for the Portuguese market. House prices have been projected to increase by 5% per annum for the following five year period which is extremely exciting news for Golden visa investors.
August’s figures have grown for both house price increases and new sales enquiries, compared to those published in June 2017. The sales predictions for the coming three months ahead has also risen which aligns well with La Vida’s personal forecast as the Autumn period always proves to be one of our busiest quarters for new investors buying in Portugal.
There is a high demand yet a low of supply of property (particularly in Lisbon) which is underpinning the prices increases. The lettings market is also being strongly influenced by this and rents remain on an upwards path with a steady rise of tenant enquires. It is estimated that rentals will also continue to grow over the coming quarter. This is very positive news for prospective landlords who are looking to invest for rental return.
Despite the shortage of real estate currently on the market, La Vida have an excellent choice of properties to offer, with a large selection of options in Lisbon, Porto, the Silver Coast and the Algarve.
In other areas, unemployment rates have recently decreased to just 9.4% which is the lowest it has been since the 2008 recession. This is yet another positive reflection of how well the economy in Portugal is currently performing.As one of the market leading consultancies specializing in Investor visa’s, La Vida have the ability to assist investors with both the real estate purchase and the legal work which is involved in obtaining a Portuguese Golden Visa.
To speak with one of our expert consultant, please do not hesitate to contact us.