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Investment in real estate is likely to be one of the main winners of the crisis resulting from the pandemic, said Miguel Maya, CEO of Millennium BCP bank. Americans lead the way in terms of foreign interest.
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Portugal’s Golden Visa scheme, which grants Portuguese citizenship to non-EU nationals, will soon be offered to British investors once the transition period of Brexit ends in January 2021.
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With a feeling of uncertainty affecting the current property market, Portugal should be strategic and withdraw the changes proposed to the Golden Visa and the Non-Habitual Residency (NHR) programmes, according to the president of APEMIP.
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Pandemics and political shifts are pushing many families and individuals to become citizens of some of the world’s safest countries. Thanks to its incentive programmes, tax breaks and sense of security, Portugal is one of those countries, with citizenship requests at an all-time high.
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It may seem like the wrong time to buy a property overseas, but in fact, it could be the best time to find a deal in the Algarve, thanks to high safety measures, EU benefits and lower property prices.
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