According to the renowned real estate consulting firm Jones Lang LaSalle (JLL), 2021 is expected to be a "positive" year for the Portuguese real estate industry, with increased dynamism starting from the second quarter of this year.
The research report released by JLL indicates that the year 2020 has become the "third best year in history" for the Portuguese real estate industry, with residential investment stabilizing around 25.6 billion euros and commercial real estate investment reaching 2.4 billion euros. JLL believes that Portugal possesses a relatively stable demand base and highly attractive development opportunities compared to other European markets.
In recent years, Portuguese real estate has been favored by investors. Data from Eurostat shows that despite the impact of the pandemic last year, property prices in Portugal continued to rise steadily, reaching a new high in nearly a decade as of the third quarter of last year.
Additionally, compared to the same period last year, the price increase rates for the first three quarters of 2020 in Portugal were 10.3%, 7.8%, and 7.1%, significantly surpassing the EU's increase rates during the same period.
Recently, HIG Capital from the United States announced that its subsidiary has completed three transactions in Lisbon, acquiring three residential building assets located in prime locations in downtown Lisbon. The head of HIG Europe Real Estate stated: "We have seen significant opportunities in the Lisbon real estate market, with investments focusing on renovating properties in premium locations to meet the demand for such assets from local and international investors."
Moreover, in the first quarter of 2021, a consortium composed of French and Portuguese investors is set to purchase approximately 4,400 properties in Portugal for about 300 million euros, averaging 68,000 euros per property, with the transaction expected to complete this summer. This investment portfolio primarily consists of properties in Lisbon, Porto, and Setúbal, including 4,435 properties that are mostly already rented out.
With a substantial influx of capital, Portugal's real estate market is poised to become even more vibrant. Despite the pandemic, property prices in Portugal continue to rise and more investment groups are entering the market, highlighting the incredible potential of Portuguese real estate.
Currently, individual investors can apply for Portuguese residency by investing in property renovation projects starting from 350,000 euros or real estate projects starting from 500,000 euros through the Portugal Golden Residence Permit Program. This not only allows them to acquire properties with permanent rights in Portugal but also enables three generations of their family to apply for Portuguese Golden Residence Status, enjoy Portugal's generous social benefits and quality educational resources, freely travel across the 26 Schengen countries, and, upon meeting conditions, apply for Portuguese citizenship, thus obtaining a European Union passport, offering multiple benefits!
Act early in immigration! Recently, the details of the new policy for the Portugal Golden Residence Visa program were officially announced, stating that starting from January 1, 2022, immigration to Portugal through the purchase of residential real estate will be limited to inland areas, the Madeira Islands, and the Azores. With changes imminent in the Portugal Golden Visa program, now is the time to seize the last opportunity for property investment immigration in Lisbon and Porto! Investors interested in purchasing properties in these cities should cherish the remaining months of valuable time and take action soon to secure their residency sooner.
Worldway Group, ranked among Asia's top 500 brands and a leader in investment immigration for over 20 years, is one of the first immigration firms in China to promote the Portugal Golden Residence Permit program. In October 2012, we introduced the program to China and co-hosted the “Launch Ceremony of the Portugal Golden Residence Plan” with the Portuguese Embassy in China in April 2013, helping numerous investors achieve their dreams of moving to Portugal.
For more details, please contact the Worldway Group's customer service hotline: Mainland China: 400-138-2929 Hong Kong, China: (852) 2802 8798.
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