Portugal earned on «gold visas» program € 1,6 bln.

Jan. 15, 2016

Portugal earned on «gold visas» program € 1,6 bln.

The Portuguese "golden visas", aimed at attracting foreign investment in exchange for a residence permit, has brought to the country more than € 1,6 billion during its existence - from October 2012 .

Almost all of that amount, namely € 1,5 bln. was invested in real estate. By the end of 2015 2788 residence permits were issued for foreigners, of which 2635 (95%) - for home buyers, 149 - in exchange for investments in the economy, and 4 - for the creation of ten or more working places for local residents .

Market experts believe that these figures indicate the end of a stagnation period in the Portuguese real estate market, when corruption scandals have undermined the credibility of the "gold visas" program, Now the situation has stabilized, the confidence of agents and potential investors is increasing.

According to the materials www.theportugalnews.com
Photographic Depositphotos.com