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SWISS VIEW ON THE REAL ESTATE IN PORTUGAL

SWISS VIEW ON THE REAL ESTATE IN PORTUGAL
By Joana P. . 4 years

Some Europeans are soft-eyed to Portugal, in our opinion, especially the French, the British or the Swiss. Today the Swiss have quite timid interest in real estate in Portugal. The Swiss embassy based in Lisbon, in the neighborhood of the Basilica of Estrela, is indeed not overwhelmed by requests.


In what follows, we discuss the attractions of Portugal, then try to understand what holds the Swiss to become homeowners, tenants or simply, in a country that nevertheless offers an interesting non habitual resident status.

 

The advantages of Portugal for Swiss residents

 

Switzerland is not one the hottest European countries and has no direct access to the sea. Therefore, for their second home, the Helvetii like to pack their suitcases to visit other borders. Portugal could be one of the host countries and provide both its sun, its financial arrangements and accommodation at very affordable price. However, this is not necessarily the case, the Swiss do not often opt for this destination.

 

A shy attraction to the real estate in Portugal

 

For starters, if one is based on the statistics compiled by the central government, one can observe a constantly changing numbers. Indeed, although low, is a steady rise in Swiss residents registration at their consulate is established since 2012, from 3,160 to 3,190 people registered in 2013 and 3,343 in 2014.

Far from the mass movement operated by the French population to real estate in Portugal, yes, but still growing. A progression that has also not need the establishment of "special measures" in the words of Ambassador Lorenzo Schnyder von Wartensee.

 

In terms of financial data, is 1.383 billion euros were invested in 2014 by the Swiss in Portugal (including direct investment in real estate). Only € 430 million was injected for 2010.

 

Also, if one believes the words of Erika Zambonin, President of the Swiss Club of Lisbon, 2015 was placed under the auspices rather encouraging. She actually said last October: "We went from zero to fifty applications from the beginning of the year. We have entered 4 or 5 sales, not necessarily to retirees. It moves. Real estate prices are attractive. "We'll see, when the results of 2015 will be published if they confirm these hopes.
A note finally that, for now, the bankers and financiers do not express their wish to establish a presence in the country.

 

Economic Situation

 

But why the Swiss-if they remain averse to the multiple benefits of the attractive tax and real estate in Portugal?


While Miguel Nogueira Leite, lawyer in the firm Telles, in Lisbon, said "We have not noticed any significant changes in Swiss customers, either in the number or in the diversity of demand. However, Switzerland is in the Schengen area, it enjoys the benefits of NRH, "so we can easily conclude that the attraction not habitual resident status is not enough to convince the Swiss people to take the step towards real estate in Portugal.

 


We must therefore seek other factors and that's Erika Zambonin giving a possible explanation for this reluctance. She actually said that it believes the Swiss "are wary of an unstable economic situation."
Perhaps, in the end, with the strong franc, the Swiss, until now, they prefer the sunny Cote d'Azur, which already opens up good prospects. But without doubt, when some nice proposals arrive on the market and that supply will grow, demand will then follow.