Merits Of Investing In Portugal Real Estate
Portugal, like many other countries, has faced some hard economic times but has been able to pick its economy up substantially over the last 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 in the favour of real estate in Portugal. This article seeks to look at a number of reasons why a lot of investors are turning to real estate in Portugal.
Firstly, Portugal is one of the best places you can wish to live in. Research shows that very few countries can beat Portugal in terms of quality of life because unlike other countries that are only good for holidays, Portugal has invested a lot in improving the way of life of both its permanent settlers and those on holiday in the country. 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.
The picturesque villages of Algarve have also done a lot for Portugal’s tourism sector. A lot of investors have rentals in Portugal to cater to the crowd that it receives all year round because of these two cities.
If you have a golden visa, there is good news for you because you will be easily accepted into the country. Portugal is a member of the EU, which means that any citizen of another member European country can work or invest in the country without barriers. Golden visas are Portugal’s way of encouraging non-EU citizens to seek residence in the country. The beauty of investing in Portugal’s real estate is that you will not be required to reside in the country all year round, you can be in the country for a minimum of seven days each year to oversee your investment.
Another reason why you ought to consider investing in Portugal’s real estate is its tax incentives. 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. A lot of retired foreign investors choose to invest in real estate in Portugal because they do not have their foreign income 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.
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