BREXIT ATTRACTS FOREIGN INVESTORS FOR PORTUGUESE REAL ESTATE
More and more British are asking for information about Golden Visa programs
With the victory of Brexit in the UK (which will cause the exit out of the EU country), there is a growing number of British to wonder how the Portuguese program of residence for investment works. For now this interest has only been seen in opinion polls and it is unknown whether it will in fact affect the investments.
In addition to the undeniable tax advantages associated with golden visa program, which allows citizens living outside the European Union to move freely throughout the Schengen area, the fear that the British property depreciates with the implementation of Brexit can bring international investment to Portugal.
It is noted that the English have always been active in Portugal, mainly acquiring property as a second home or for rentals. However, in the first quarter of 2016 English people were dethroned by the French, regarding the purchase of real estate in Portugal, because of the tax advantages obtained by having residence outside France.
INVESTMENT IN PORTUGUESE REAL ESTATE IS AROUND EUR 885 MILLION
In the first half of this year, investment in commercial real estate in Portugal reached € 885 million. This corresponds to 21 transactions in the retail real estate, offices, industrial logistics and hotels.
PROPERTY PRICE EVALUATION IN EURO ZONE
The first quarter 2016 recorded the largest growth in house prices in Portugal since the second quarter of 2008. This corresponds to 6.9 percentage points, according to Eurostat data.
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