With an investment of 500,000 buying a house for immigration to Portugal, one can gain European identity and dual benefits of permanent property ownership in Portugal. As of the end of February 2014, the Portuguese Immigration Office had issued 542 Golden Residence Visas, of which 433 were to Chinese citizens, accounting for 79.8% of the total. However, surveys show that among these Chinese investors who obtained residence visas, more than two-thirds only purchased property to obtain the visas and do not intend to reside in Portugal. Many of these properties purchased for visa purposes are currently waiting to be rented out. Our Overseas Living Consultants at Worldway Immigration will provide a detailed introduction on how to rent out properties in Portugal.
1. Short-term tourists. Portugal is a popular tourist destination with a moderate climate year-round, attracting over 20 million visitors each year. Therefore, the rental market in this country has a stable demand throughout the year. Although rents are not exorbitant, they are not inexpensive either. A reasonable rental price encourages many to rent apartments and seaside villas for vacation.
2. WorldWay travelers. There is also a significant number of business tourists in Portugal, fostering a mid to high-end market. Many who do business and negotiate partnerships prefer to find a golf course in Portugal to play a round and discuss business with partners. This culminates in closing deals, while also allowing for leisure and entertainment.
3. Local residents. Westerners do not share the same mindset as the Chinese regarding living conditions; they do not feel the need to have one or several properties for security and value retention. Their approach is more casual—having a place to live is sufficient, and ownership is not a concern. Therefore, many Westerners prefer not to buy properties and are not overly worried about inflation or maintaining value in their savings. These beliefs are, of course, influenced by certain welfare policies in their countries; generally, ordinary citizens do not worry about medical care, aging without support, or unemployment without a safety net, as they have bankruptcy insurance for companies and other protections.
4. The Portuguese government. While the government does not directly intervene in the rental market and pricing, it maintains stability and controlled growth. Generally, for residents, rent does not pose a heavy burden on typical families. For them, rent constitutes only a small portion of their expenses. If the demands are not high, prices can range from 150 to 600 euros; however, living in affluent areas or high-end apartments would require a different discussion.
Currently, the property market in Portugal remains in the lower to mid-range of European prices, indicating that the rise in property values is merely a matter of time. This is one point that attracts many investors. Therefore, friends planning to immigrate might consider buying property for immigration to Portugal. Compared to other immigration projects, it not only offers high cost-effectiveness, but the entire family can also obtain European Union identities and generate additional income through property rentals, providing substantial advantages.
