The study was conducted by the British consultants Astons, who concluded that Portugal is highly sought after by British investors due to the difficulties created by Brexit.
According to managing director Arthur Sarkisian, Astons is “currently seeing a high demand for residence permits and citizenship applications in Montenegro, Portugal, Spain and Turkey. This interest comes largely from UK investors eager to overcome the obstacles posed by Brexit”.
Among 20 European destinations offering benefit schemes to those who invest in real estate, Portugal and its Golden Visa, which offers Portuguese citizenship to those applying to the programme, is among the most popular choices.
According to the consultants, the availability of properties “plays a fundamental role in the decision-making process when investing in a programme that offers citizenship or residence permit for investment, not only commercially, but also from a residential point of view”.
It is worth remembering that limitations to Portugal’s Golden Visa scheme will take effect from July 1st, despite calls from national associations, property developers and investors to rethink the changes (read more here).
The changes have prompted a surge in demand before the deadline, particularly among British investors who will be affected by Brexit. Another alternative – the D7 visa – is also attracting attention. Read more here.
For real estate advice or for further information on benefit schemes in Portugal, contact us at Algarve Home Sales.
