Portugal’s Golden Visa programme may be on the verge of a major reset. Recent comments from the current government have brought renewed hope for overseas investors and developers, especially in sought-after regions like the Algarve.

While real estate investment was excluded from the scheme – officially called the Residence Permit for Investment Purposes (ARI) – in 2023, the government is now signalling a shift in direction that could reshape the property market.

In an interview with Bloomberg, Minister of the Presidency António Leitão Amaro confirmed: “There are no plans to end the programme. That’s not on the table.” Instead, the government aims to make the scheme “more effective and economically efficient”, focusing on boosting foreign investment and attracting international talent.

Nearly 5,000 Golden Visas were issued in 2024, a record figure and a 72% increase year-on-year, yet tens of thousands of applications remain pending.

With North Americans, Chinese and Brazilian nationals leading the demand, Portugal remains one of the most attractive gateways to Europe, thanks in part to its flexible residency requirement: just seven days a year.

This renewed interest comes at a time when other incentives, such as the Non-Habitual Residency (NHR) tax regime, have recently been scaled back or eliminated, making the future of the Golden Visa reform even more impactful.

For property buyers, especially those from outside the EU, this could be a golden opportunity to secure both a home in the sun and a path to residency, especially as other countries have tightened similar schemes. Other visa options include the digital nomad visa and the D7 visa.

If the government follows through, the Algarve – already prized for its lifestyle, safety and connectivity – could once again become a top target for global investors. For help finding the perfect property, contact Algarve Home Sales.