In this article, we tell you all there is to know about the Portugal Golden Visa real estate changes set to roll out in mid-2021. From updates to new golden visa rules, we keep you informed every step of the way.
Portugal Golden Visa real estate changes to start in July 2021
The Portuguese government announced that the Portugal Golden Visa updates regarding the Golden Visa real estate investment will be enforced on the 1st of July 2021. Applicants will be blocked from purchasing property in high-density areas such as Porto, Lisbon, the Algarve and coastal areas such as Setubal and the Silver Coast.
The Portugal Golden Visa real estate changes will exclusively focus on the purchase of real estate for €500K or urban rehabilitation projects for €350K. While the update will definitely affect Portugal’s real estate market, its implementation is meant to diffuse pressure from metropolitan locations and encourage foreign investment into Portugal’s low-density areas.
Will the Portugal Golden Visa real estate update affect existing real estate investments?
If you are wondering if the new Golden Visa real estate changes will affect your current property investment, let us reassure you: the answer is no.
If you’ve already purchased your property and have received your Portugal Golden Visa, you will not be affected by the Portugal Golden Visa real estate update.
If you have already purchased your property and haven’t applied for the Golden Visa, you should do it as soon as possible.
Finally, if you haven’t yet purchased property in a high-density area but are serious about doing so, now is the time to do it. You can still purchase properties of €350K and €280K in Lisbon and Porto to get the Portugal Golden Visa, but there is very little time left before the updates come into force.
Alternative Portugal Golden Visa real estate opportunities
Following Portugal Golden Visa real estate changes, investors will still have the opportunity to invest €280K+ in renovation projects in low-density areas. This real estate option is excellent for investors looking for a lower investment threshold with excellent rental return yields, lower real estate prices, and stunning property potential. Low-density areas such as Peneda Gerês, Douro Valley and Aljezur are especially promising due to their reselling potential, high touristic profile and attractive real estate prices.
If you aren’t necessarily interested in investing in Portugal real estate, you can also decide to invest in a Portugal investment fund golden visa. For a minimum of €350,000, you can become a Portuguese resident via the Portugal Golden Visa program.
What the experts on the Portugal Golden Visa have to say
The Portugal Golden Visa program is one of the most popular residency by investment schemes in Europe. Launched in 2012, investors can obtain residency permits for themselves and their families provided that they make a qualifying investment in real estate.
Portugal Golden Visa statistics show that since its launch, the Portugal Golden Visa has been a true success with 9,389 investors and 16050 family members benefiting from the program.
For more information on the Portugal Golden Visa program, visit our Golden Visa Portugal 2021 Ultimate Guide.
What can Global Citizen Solutions do for you regarding Golden Visa real estate updates?
Golden Citizen Solutions is dedicated to assisting you in acquiring the Portugal Golden Visa and will continue to closely monitor Portugal Golden Visa real estate changes in order to keep you updated on the matter.
Our team of immigration investment experts are here to assist you at each step of the Portugal Golden Visa process. From purchasing a property to legal advice, we make sure your personal needs are fulfilled with our tailor-made strategies.
With the Portugal Golden Visa processing times taking between three to six months for approval and only a few months left to purchase property in Lisbon and Porto, now is the time to act.
Schedule a call today with one of our advisors to start your journey towards Portuguese residency.