Recently, the President of Portugal officially announced that the state of national emergency will be fully lifted in the early hours of May 3. At the same time, it was emphasized that the end of the state of emergency does not mean letting one's guard down. Portugal will gradually resume and open up economic activities while keeping the situation under control.
Portugal's Tourism Industry
Is Ready to Welcome Foreign Tourists This Summer
According to recent reports from Portugal, Portuguese airports are ready to "safely" receive foreign tourists this summer. Rita Marques, Portugal's Secretary of State for Tourism, stated, "We are ready to welcome foreign tourists back to Portugal in August 2020," and emphasized that "air operations will be crucial during the gradual recovery of the tourism industry, but they 'must absolutely not' affect the epidemic that we have already brought under control. We must make every effort to prove that the 'world's best tourist destination' has not been diminished by the epidemic."
As an ancient European nation, Portugal is world-renowned for its extraordinary cultural heritage and architecture. It has always been a popular travel destination, famous for its natural beauty, ancient history and culture, outstanding cuisine, and football culture.
Portugal Named by Forbes as
"The Best Country to Live in After the Pandemic"
Considering the development of various countries after the pandemic crisis, which country is a better choice for relocation abroad? Where can one find a diverse lifestyle and investment portfolio? Where can one find more unprecedented opportunities? Faced with questions about life and how we can better utilize our time during a crisis, where is a suitable place to live and retire after the pandemic?
Faced with this series of major questions, Forbes magazine recently selected destinations that "enhance health, resilience, and community," with Portugal ranking at the top of the list.
Data Proves: Portugal's Real Estate Market is Developing Strongly
In addition to being suitable for living and retirement, the booming real estate market in Portugal is also an important factor attracting international investors.
▌ The report from the Portuguese real estate website Idealista shows that in 2019, the average housing price in Portugal was 2,028 euros/㎡, a year-on-year increase of 13.3%.
▌ Data released by the Portuguese real estate appraisal company Confidencial Imobiliário shows that housing prices in Lisbon increased by 9% in 2019.
▌ Data released by the National Statistics Institute of Portugal shows that rents in Portugal rose by an average of 3.2% in 2019, with the capital, Lisbon, seeing the highest increase at 4%.
▌ Moody's Investors Service predicts that Portugal's real estate market will remain booming in 2020, with housing prices expected to grow by 7%-8% annually.
▌ The residential price index report from the Portuguese real estate appraisal company Confidencial Imobiliário shows that in March of this year, housing prices in mainland Portugal grew by 0.4%; during the pandemic, prices continued to rise rather than fall.
Follow Blackstone and Invest in Portugal
Recently, the well-known investment management company Blackstone Group announced that a 9.8 billion euro (approximately 10.7 billion USD) fundraising plan for European real estate has been fully completed. To date, the funds for Blackstone's ambitious "European Asset Investment Action" plan have reached as high as 30 billion USD (approximately 210 billion RMB).
In fact, as early as January 2020, Blackstone began investing in the Portuguese market. Its hotel platform, HIP (Hotel Investment Partners), has already acquired a five-star hotel in the Algarve, a resort destination in southern Portugal.
For investors, following Blackstone's lead in investing in Europe to invest in Portugal may be a wise choice!
Portugal's Golden Residence Permit Program Receives Multiple Benefits
The Portuguese State Budget Act has adjusted the duration of residence cards: the validity period of the Golden Residence Permit has been changed from the initial 1-year term to a 2-year term, and the renewal term has been changed from 2 years to 3 years, which is more favorable and convenient for investors.
At the same time, in early 2020, Portugal passed an amendment to the Golden Residence Visa Act in the 2020 budget amendment, proposing to raise the investment threshold for the Golden Residence Visa. Recently, due to the impact of the coronavirus, the modification of this plan has been shelved. This means that it is currently still possible to apply for Portuguese Golden Residence status in Lisbon and Porto.
Those interested in investing in Portugal may wish to seize the current policy benefits and take advantage of the excellent opportunity to still be able to purchase property for immigration in Lisbon and Porto, and obtain status sooner rather than later.
As an active promoter of European investment immigration, WorldWay Group joined hands with the Portuguese Embassy in China as early as 2013 to introduce the Portuguese "Golden Residence Permit Program" to China, starting a wonderful journey of investment immigration to Portugal. As one of the earliest immigration agencies to promote the Portuguese "Golden Residence Permit Program" in China, WorldWay has maintained good interaction with the Portuguese government for many years to help you immigrate to Portugal with ease!
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