Buy a property in Portugal - the most successful migration program
Apr 29, 2022
Amongst Indian buyers, Portugal is arguably one of the most sought after European destinations for Golden Visa investment along with Greece and Cyprus. We take a look at statistics that show the level of interest in the program and other nationalities that are taking the plunge and investing in Portugal.
Portugal foreign investment reached new heights in 2021.
According to Confidencial Imobiliário, clients from 83 nations bought homes in the Lisbon ARU in 2021. A remarkable total of 1,767 residential properties worth €923.1 million in 2021 were purchased by foreigners. This is a staggering increase from 2019 where 1,673 residential properties were bought amounting to €762 million.
The increased interest in Lisbon was driven most likely by demand related to golden visas, whose rules have changed at the beginning of 2022, with strong restrictions on the eligibility of property acquisition in Lisbon.
Which countries are making investments?
North Americans, transacted €134 million in residential acquisitions at the Lisbon ARU
French transacted €126.1 million
Chinese nationals invested €119.7 million
Share of the market
Foreigners maintained their market share accounting for 38 percent of total housing investment, as investment of Portuguese origin also increased in comparison to pre-Covid.
In total, roughly 6,100 residential properties were purchased in the Lisbon ARU by foreigners and Portuguese, representing a €2.46 billion investment. In comparison to 2019, the amount invested in housing at the Lisbon ARU grew by 14%.
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