On : My Experience Explained2 min read
Merits Of Investing In Portugal Real Estate
0After facing some very difficult economic times in the past, Portugal has been able to pick itself up and has realized a substantial growth in its economy over the past year. The rise in the economy is partially due to the large number of foreign investors seeking to get a share of the real estate market in Portugal. There are a lot of factors that seem to attract foreign investors to Portugal. Discussed in this article are some of the reasons why real estate in Portugal seems to be so appealing to foreign investors.
One of the best countries to live in currently is Portugal and this has done a lot to increase the number of real estate investors in the country. Studies show that Portugal is one of the few countries in the world that has a lot going for it in terms of the quality of life of people, not only for those visiting for holidays, but for the permanent settlers too. Portugal has invested a lot in providing quality housing for its citizens, perfect work-life balance and ensuring that they have state of the art health services. Towns such as Lisbon and Algarve have contributed a lot to the improvement of the country’s tourism sector, receiving millions of visitors yearly from all over the world. A lot of people visit Lisbon for its Mild climate and Algarve for its stunning beaches.
A lot of tourists also visit Algarve for its striking villages. Portugal sees tourists all year round because there are always things to do, thereby making real estate very rewarding in the country.
A lot of real estate investors have chosen Portugal because it is one of the few countries in the world that accept golden visas. If you are a member of any EU state, you can work in the country without restrictions because of the trade agreements between European countries. If you are not an EU national, you can apply for a golden visa to give you residence in the country. A lot of foreign investors are opting for Portugal’s real estate because permanent residence is not a requirement for one to invest.
The third reason why Portugal is the hub of real estate investments is because of its tax incentives. Portugal’s tax incentives have also done a lot to attract foreign investors into the country. If you are afraid of making foreign investments because you do not want to be taxed twice, you should consider investing in land in Portugal because their tax regime is very favourable for foreign investors. Real estate investors in Portugal do not have their foreign income being taxed in the country. Before you commit to any investment however, ensure that you are up to date with the current tax laws because they are changed frequently.