Like many southern European countries, the Portuguese property market suffered after the 2007-08 financial crisis and even as late as 2015 prices were still typically 20% – 30% below their 2007 peak. However, since 2015 prices have been rising strongly, particularly in Lisbon.
The main reason for the price recovery in Lisbon is the golden visa programme which has attracted investors from all over the world. Investors buying into the real estate market in Portugal for the Golden Visa still have good prospects for capital gain in the coming years, although prices are no longer rising at the same rate as in 2016-17, when on average properties would be sold within less than two months.
The two investment methods which most golden visa applicants consider are:
(1) An investment transaction with a hold period of at least five years and a minimum acquisition amount of € 500,000.
(2) The purchase of a property or properties for more than € 350,000 which must be more than 30 years old or located in urban renovation areas or regeneration zones.
If you are considering the €350,000 option the project needs to be approved by SEF as qualifying for the reduced investment amount.
Villa Surveyors has the contacts and experience necessary to ensure the right project is selected and adequate legal advice is obtained before commencing on the investment.