In 2010 crisis has engulfed all sectors of the economy of Portugal. The government recognized the need to attract foreign investment and adopted a program of Golden visa. Investing in Portugal was affordable and quick way to move to Europe.
Under the program, foreigners who buy property in Portugal for an amount not less than € 500,000 not only receive a residence permit, but also for 10 years are exempt from paying taxes. If the purchased houses and apartments are less than the specified amount, then getting rid of the tax must be legally resident for at least 6 months in the country per year.
Wealthy investors are the guarantor of economic stability. During the 6 years of the program the real estate market increased by 30%. In 2015 about 30,000 wealthy citizens migrated in Portugal from France - the conditions in their home country were not so favorable.
All this led to an immediate result. In 2016 Lisbon was on the 7th place in the ranking of the most hotly favorite cities for the world investors. In the business areas of Lisbon yield is 5% or more, which is considered a good indicator for Europe. At the same time the Portuguese square footage is much cheaper - similar flats and houses in London or Berlin are 2-3 times more expensive.
Confidence to Portugal is growing. In 2015, it was recorded an increase in the number of commercial real estate sales to foreign citizens. Total investments in the office real estate amounted to about € 500,000,000.
According to experts, the prices of Portuguese apartments, houses and commercial facilities will grow, so investing in Portugal attractive year-on-year.
Based on materials of kapital.kz
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