The Portuguese Immigration and Borders Service (SEF) has released the latest progress report on Golden Residence Permit approvals. As of October 31, the number of approved main applicants reached 5,412, an increase of 169 since the last release (July 31), with 9,023 dependent applicants approved. This has brought over 3.3 billion euros in direct investment to Portugal, of which 3 billion euros was invested in real estate, accounting for as much as 90%!
*Portugal Golden Residence Permit Statistics (As of October 31, 2017)
Latest research data shows that due to supply shortages in the real estate market, housing prices in Portugal continued to rise in the third quarter of 2017, an increase of 7% compared to the same period last year. The Lisbon region saw the largest increase, growing by 8.8% compared to the same period last year. The growth rate of housing prices in the northern region was also remarkable, reaching 6.8%. It is predicted that Portuguese housing prices will rise by at least 2% within the next twelve months and will continue to grow at a rate of 4%-5% annually over the next five years.
The momentum of Portugal's economic recovery this year is evident, with significant development expected in the real estate, tourism, and emerging technology industries. The comprehensive rise of independent travel has led more and more foreign buyers to favor the Portuguese real estate investment market. For many overseas investors, investing in Portugal for immigration now requires only 500,000 euros, with no language or academic requirements, allowing one applicant to secure European status for three generations! You can own property, immigrate, and enjoy multiple benefits simultaneously.
Advantages of Portugal Real Estate Immigration
1. One application allows the entire family of three generations to quickly obtain a Golden Residence Permit
2. Holders of a Golden Residence Permit can travel freely within the 26 Schengen countries
3. Low residency requirements, with the right to work and conduct business
4. No requirements for language, education, or source of funds
5. Convenient naturalization process; enjoy EU citizen treatment after naturalization.
Currently, to cope with the booming trend of immigration to Portugal, the country has added 12 new immigration offices. This is major positive news for investors who want to go to Portugal for immigration. It not only means that the approval speed for Portugal's Golden Residence Permit will be greatly improved, but also that more families will obtain European immigration status for three generations in a shorter period of time, making it more convenient to conduct business, travel, and reside in Europe from now on.
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