In recent years, Portugal's economic recovery has brought vitality to various industries, with the real estate sector showing particularly impressive growth. According to reports, the National Statistics Institute of Portugal recently released the housing price index for the second quarter. Data shows that housing prices in Portugal rose by 10.1% year-on-year in the second quarter of 2019, more than double the growth rate of the Eurozone and the EU, and an increase of 0.9% over the 9.2% growth in the previous quarter.
According to data from the National Statistics Institute of Portugal, the price increase for new housing is comparable to that of existing housing. The institute recently announced that a total of 42,590 properties were sold between April and June. Since the beginning of this year, the total volume of property transactions has exceeded 86,000 units.
Data from the Portuguese property transaction registry shows that 6,107 transactions were for new housing, a decrease of 9.4% compared to the second quarter of 2018. "Existing housing still accounts for the majority," the institute emphasized, representing 85.7% of total transactions, with sales exceeding 36,400 units.
Data shows that the total value of property transactions reached 6.1 billion euros, with secondary market transactions accounting for nearly 5 billion euros.
The Lisbon Metropolitan Area led in transaction volume, with over 14,800 properties sold. This was followed by the Northern region, with approximately 12,000 transactions. The institute stated that these two regions account for 63% of the total recorded property transactions nationwide.
Currently, against the backdrop of an improving overall economy and a strengthening real estate market, Portuguese housing prices continue to show an upward trend, which may attract more investors. Therefore, investors interested in immigration to Portugal through property purchase should seize the opportunity to act early and benefit sooner.
Currently, through the Portugal Golden Residence Permit Program, purchasing property starting from 350,000 euros not only allows you to acquire freehold property in Portugal and enter the Portuguese investment market, but also offers your family of three generations the opportunity to obtain a Golden Residence Permit visa, allowing travel across 26 Schengen countries. It is a multi-benefit solution, so why hesitate!
Furthermore, according to the "Amendment to the Portuguese Nationality Act" promulgated by the Portuguese government in July 2018, holders of the Portugal Golden Residence Permit visa who have resided in Portugal for a certain cumulative period within 5 years and passed the A2 level Portuguese language test are eligible to apply for Portuguese citizenship and obtain a Portuguese EU passport. Holding a Portuguese passport allows visa-free access to 185 countries and regions. In addition, holders of a Portuguese EU passport can freely move, work, and reside in all 28 EU member states (including the UK, Germany, Austria, Italy, France, Finland, etc.) as well as the 3 member states of the European Economic Area (Norway, Iceland, Liechtenstein) and Switzerland, totaling 32 European countries. They can enjoy the generous benefits of EU citizenship in EU countries—1 equals 32!!!
As one of the earliest immigration agencies to promote the Portugal "Golden Residence Permit Program" in China, WorldWay partnered with the Embassy of Portugal in China in April 2013 to introduce the program to China, marking the beginning of a wonderful journey for Portuguese investment immigration.
To celebrate the first anniversary of the implementation of Turkey's new investment citizenship policy and to give back to new and old clients, WorldWay is launching major promotional activities in October! From October 1st to 31st, WorldWay's October grand promotion for 18 countries' immigration projects is in full swing! With many activities, many discounts, and many surprises, we welcome all new and old clients to actively participate and seize the opportunity! For more details, please consult: 400-138-2929.
