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“Golden Visa” set new record on real estate investments in Portugal

 

Lisboa

The real estate investment volume in Portugal has reached last March 93 million euros, mostly due to the golden visa program with which 168 residence permits have been granted. The first trimester outcome was set on 232 million euros, 43% more than 2015 same period.

 According to Vida Imobiliária, Manuel Reis Campos, president of CPCI (Real Estate and Construction Portuguese Association), «the 1.738 billion euros generated by this program since its inception represents an essential enabling factor for economic growth that goes far beyond the obvious impact on this sector.» Furthermore, «besides the excellent real estate offer, Portugal has a unique cultural and historical legacy, as well as a high level infrastructure network and an incomparable geo-strategic positioning, all factors that cannot be undervalued. Confidence is a key element that must be preserved as it will guarantee international leadership on foreign fund raising.»

 APEMIP (Portuguese association for real estate professionals and companies) foresees 35% to 40% increase on real estate transactions this year as «one in five transactions are from foreign investors» therefore, «Government begins to face this sector as export trade», states Luís Lima, president of the association, to Lusa.

Source: Vida Imobiliária

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Portuguese Hotels registered 2-digit increase in overnight stays in February.

According to INE, overnight stays increased in Portugal 15.1% in February 2016compared to the previous year. The destination with the largest growth was the Azores (+ 57.2%), followed by the Algarve (+ 23.4%).

However, Lisbon remains the destination with more overnight stays with 27.2%, followed by the Algarve (25.9%) and Madeira (18.1%).

Source: Vida Imobiliária