According to data released earlier by the Portuguese Statistics Bureau, property prices in the Algarve region have dropped by 50% this year, and property prices in the Lisbon region have fallen by over 20%. Due to the impact of the global financial crisis, property prices in Spain have decreased by 30.4% compared to the peak in 2007, with currently 1 million properties available for sale.
In order to promote a recovery in the real estate market and attract overseas investment, Portugal and Spain have successively launched a €500,000 property investment immigration policy. Compared to other immigration methods, Chinese individuals have a strong preference for real estate; purchasing property not only allows for immigration but also wealth appreciation, providing rental income and visa convenience. Considering the current property prices and future development trends, many investors are optimistic about the "Iberian Peninsula," making it a mainstream project for property investment immigration in Europe.
Each country's immigration policy has its own details, and applicants should choose the immigration country that suits their actual situation. Although both Portugal and Spain offer immigration through property purchase for €500,000, there are differences in the details of residency rights. Portugal's policy stipulates that during the 5 years of obtaining residency, applicants only need to reside for 7 days in the first year, and thereafter enter the country once every two years for 14 days to obtain permanent residency, with a green card available after 5 years. Spain's property investment immigration policy states that applicants (for the first approval) can obtain at least one year of residency, with the initial investment immigration residency permit valid for two years. Upon expiration of the permit, if longer residency in Spain is required, an extension of the investment immigration residency permit can be applied for, also valid for two years. As long as applicants meet the conditions of this part of the legislation and maintain their investment project, they can continue to renew their residency, which is valid for 2 years.