According to the latest update of the "World Economic Outlook" report, the Eurozone is set to transition from recession to recovery. The IMF predicts that the Eurozone economy will grow by 1% this year and by 1.4% in 2015.
On December 4, 2013, European Commission President and Commissioner for Economic and Monetary Affairs Olli Rehn addressed the European Parliament, stating that signs of recovery began to emerge in the European economy starting from the summer of 2013, with a shift to growth in the second quarter and maintaining an upward momentum in the third quarter. European countries have gradually returned to positive economic growth.
Portugal Raises GDP Forecast: Property Investment Immigration Policy Attracts Over £300
With the overall economic recovery in Europe, Portugal's economy is also gradually improving.
Following assessments of its fiscal and economic conditions by the EU and the International Monetary Fund (IMF) under the bailout program, Portugal has become the second country in the Eurozone to exit international assistance since the European debt crisis. At the same time, the Portuguese government has raised its economic growth forecast, increasing the 2014 GDP growth expectation to 1.2%, up from the previous expectation of 0.8%, and has lowered the unemployment rate forecast for 2014.
The recovery of the Portuguese economy is closely related to the introduction of the "Golden Residence" property investment immigration program. In October 2012, to overcome economic difficulties and attract investment, Portugal stipulated that purchasing property worth over €500,000 would grant a green card for the entire family, and after five years of investment, permanent residency in Portugal could be obtained. According to statistics from the Portuguese Real Estate Association, since the launch of the "Golden Visa" program for property investment a year and a half ago, it has attracted £300 million in foreign investment. The association expects that foreign investment through the Golden Visa program will see a sharp increase this year. So far, 542 foreigners have obtained Portuguese residence permits through the Golden Visa program, the majority of whom are Chinese.
Spain's Unemployment Rate Declines: Minister to Interpret New Immigration Policy in China
Spain's Minister of Employment, Fátima Báñez, pointed out that after two years of deep reforms and proactive economic measures, positive changes are emerging in both employment and the macroeconomic field in Spain.
Due to improvements in the financing environment supporting economic recovery, the European Commission has raised Spain's 2014 economic growth forecast from the previous 0.5% to 1%, and expects a growth rate of 1.7% next year. The European Commission believes that the macroeconomic rebalancing in Spain will continue, employment conditions will improve, and the unemployment rate will gradually decrease, although government debt will increase.
The new immigration policy was officially announced on September 28, 2013, on the official legislative website of Spain and came into effect. The new policy abolishes immigration monitoring and no longer has strict residency requirements, making it very suitable for those who find it inconvenient to reside abroad. After the main applicant immigrates, their spouse and children also obtain status simultaneously, with very lenient approval conditions. Non-Spanish foreign nationals can apply for a residence visa by purchasing real estate in Spain worth over €500,000 without any debts or mortgages. Investors can simultaneously or subsequently apply for residence visa applications for their spouse and children under 18 or disabled children over 18 years old.
Free public education for primary and secondary schools, a first-class healthcare system, permanent property rights, no double taxation, Spanish football, and world-class cultural heritage make immigration to Spain even more attractive.
Greece First Receives Economic Growth Forecast: Welcomes Chinese Property Investors
According to a recent report released by the European Commission, Greece's economy is expected to grow by 0.6% in 2014, with growth reaching 2.9% in 2015. This is the first time since Greece entered economic recession in 2010 that the EU has predicted growth for Greece. The report also indicates that Greece's unemployment rate is expected to decline in 2014 and further decrease in 2015, signaling that Greece is gradually emerging from the economic crisis.
On April 18 last year, Greece launched a property investment immigration program: non-EU citizens can apply for a Greek residence permit visa by purchasing property worth €250,000 or more within Greece. The visa is valid for five years and can be renewed (each renewal is valid for five years).
On February 11 of this year, Greece's Deputy Minister of Development and Competitiveness, Adonis Georgiadis, reiterated during a visit to China that Chinese citizens are welcome to buy property and immigrate to Greece. Greece is a member of the EU and the Schengen Area, and investing in Greek real estate can lead to permanent residency, making travel and education for family members very convenient.
Signs of economic recovery are already evident, indicating that now is a time of price lows in European real estate. 2014 may be a good time for investment immigration to European countries, as it coincides with favorable policies and the local economic rebound, making it a "bottom-fishing" golden period. As a leading institution in European immigration, WorldWay Group has established an efficient and professional customer service team locally in Europe, forming strategic partnerships with all top developers in the immigration countries, possessing unique advantages in real estate resources, and providing Chinese investors with the most comprehensive quality real estate resources.
The initial intention of European countries, represented by Portugal, in launching immigration policies is to stimulate local economic development. As the economy warms up, coupled with the fundamental reality of limited land and a high population in various European countries, it is likely that property investment immigration policies may tighten or even cease.
Stay informed about European property immigration and attend the WorldWay Group's European Property Immigration Information Session:
Shenzhen Company
Date: March 22, 2014, Saturday, 14:30
Location: 6th Floor, Excellence Times Square, Yitian Road, Futian District, Shenzhen
Seats are limited, please make an appointment in advance: 400-138-2929
