Property investments made up 90% of Portugal's Golden Visas issued in Q1 of 2021
Portugal's Golden Visa investment program performed incredibly well in the first quarter of 2021 compared to the previous year (2020). According to SEF statistics, 205 of the 228 Portugal Golden Visa awarded were issued through real-estate investments.
However, other alternative investment options were not left behind as they received six times more investors in Q1 than in the previous year.
According to the statistics, EUR 350,000 investment in the Urban Renewal areas received 40% more investors in Q1 than in the same period in 2020.
In a recent report by the Confidencial Imobiliário, Lisbon's Urban Renewal Area housing raked in a whopping €739.1 million in 2020, despite the effects of the pandemic on the country's economy.
40% of the housing investment in Lisbon's ARU came from international capital
Confidencial Imobiliário report also shows international investors contributed €490,500 per every operation, and 40% of the housing investment was from international investors.
Chinese nationals took the lead with 24 approvals based on the investment volume, presenting a 33% rise from the investments made by Chinese investors in 2019.
Other dominating nationalities include French, Americans, Brazilians, and British.
According to the report, North American Investors Have increased their investment in Lisbon by 70% compared to their 2019 performance.
According to expert market observers, the high-quality healthcare system and relatively low cost of living in Lisbon are major motivating factors for Americans looking forward to moving to Portugal after retirement.
Generally, experts estimate the cost of living in Portugal to be 30% lower than in America's cities, making it a better deal for enjoying retirement offshore.
A good ROI in Real Estate investment a major attraction to many international investors
Experts attribute the rise in the real estate investment option to the booming housing market in Portugal cities such as Porto, Lisbon and Algarve, giving a better return on investment (ROI) than other alternative Golden Visa Investment options.
As such, many international investors prefer buying property and renting them out for a short-term or long-term period even before they are granted a Golden visa, earning them income. The minimum stay length also makes the program a lucrative low-cost venture to many investors.
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