Lisbon Golden Visa Properties Great Source of Portugal Golden Visa Compliant Properties
The Increase of Value of the Portuguese Property and the Golden Visa
The Portuguese property market remains in a very strong position relative to all other global property markets, according to the latest RICS property price index report for August 2017.
The report demonstrates many different factors that contribute to Portuguese property market being as lucrative as it is in the current global market environment. Among many other promising news, the predicted five percent increase in the house prices in Portugal, per annum over the following five year period, is one of the major ones. This forecast-ed increase is especially encouraging for Golden Visa investors.
The Portuguese property figures for August have risen across the board not only for house price increases, but also for new sales inquiries compared to the previous report, published for June 2017. The sales expectations have also risen for the following three months.
With August becoming, once again, one of the busiest months for our company with new property investors buying in Portugal, we can safely say that these predictions and reports align with PropertyLisbon’s personal forecasts.
Prices in Portugal continue to rise in order to meet the high demand for property that currently exists in our country as a result of the currently prevalent under supply.
This is especially the case in our capitol, Lisbon.
The lettings market has not gone unaffected by these trends. As tenant inquiries continue to steadily rise, so do rents. The rental growth is predicted to continue for the following three month period.
For prospective landlords that are seeking to invest for rental return, this is especially good news.
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Meanwhile, unemployment rates in Portugal have dropped to only nine-point-four percent in other areas. Since the recession that took place in 2008, this is the lowest unemployment rate Portugal has experienced. This should serve as yet another clear example of how well the Portuguese national economy is currently performing.
In spite of the current shortage of property on the Lisbon market, and the Portuguese market in general, Propertylisbon still has to offer an excellent choice of properties and a vast selection of options for property investment in Lisbon, Portugal.
Our company has the ability to assist both prospective and experienced investors with the process of purchasing a property in Lisbon, as well as with he legal process of obtaining the Portuguese Golden Visa. For more information on these topics, please contact us at PropertyLisbon.com
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Golden Visa – Immigration and Residency Through Investment
The EU and many of its countries offer a wide variety of investment programs that also grant residency to the investors. Most of these programs are based around property investment, but it is worth noting that they typically do not require you to reside in the country in which you have made your investment.
The investors who opt for these “residence through investment” options do not necessarily seek to emigrate or move their families, but are drawn to these programs due to the flexibility they provide in case the need for it ever arises.
This is especially the case in the countries of the EU, as the legal citizenship and residence in any of these countries come with accompanying citizenship and residence in the EU as a whole, and grant the investor freedom to travel across the Schengen zone and work, live, and study in any of its belonging areas.
If the investor and their family obtain legal residency through any of these programs, and keep it long enough, eventually they become qualified to apply for a full citizenship as well.
For more detail on the Golden Visa program, please refer to the guide provided by our website, or contact us at PropertyLisbon.com, where our professional advisers can update you with the latest information on the subject and offer you the best possible solution based on the assessment of your personal circumstances.
Migration Through Investment
At PropertyLisbon, we recognise that permanent migration is a complex decision and a big step for both the investor themselves, and their family.
The acquisition of a permanent residency in another country always means a start of a whole new life in a wholly different country, whether it has been obtained through investment or other, more conventional means. Education, taxes, and business, are just some of many factors that should be taken into consideration before one decides to take this step.
Of all different program categories, this one in particular is the most challenging one for the applicant and requires more thorough consideration before a decision is made.
For that reason, PropertyLisbon offers a number of different “residency by investment” programs that are designed to make the overall process of migration less abrupt and more gradual and with more flexibility on the matter of obtaining a permanent residency and citizenship through temporary residency.
For more detail on the Golden Visa program, please refer to the guide provided by our website, or contact us at PropertyLisbon.com, where our professional advisers can update you with the latest information on the subject and offer you the best possible solution based on the assessment of your personal circumstances.
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Reduced Waiting Times for Portugal’s Golden Visa
Portuguese media sources report that waiting times for appointments with the SEF in Lisbon have been reduced from more than three months on average, to one day. As reported by the SEF, Portugal’s Borders and Immigration Service, its application waiting list has been reduced by nearly 80% over the last six months following procedural changes, from more than 6,000 by the end of 2017, to just 1,300 today.
According to a spokesperson from the SEF, the majority of those applicants still pending lack essential documents or clarification, or have failed to provide biometric data. Otherwise, there has been an extraordinary degree of acceleration in Golden Visa processing. Applications that are completed can expect to be processed swiftly.
Last year, it was reported by Investment Migration Insider that a backlog of unprocessed applications amounting to more than 4,000 had been accumulated by Portuguese Golden Visa program, a figure that would later rise to more than 6,000, and that prospective applicants had to wait up to 12 weeks to get their initial appointment with the SEF needed to place an application.
According to the SEF, the build up of pending applications was caused by a lack of manpower and high volume of demand in certain local SEF offices, particularly Lisbon and Porto. The law at the time required that investors submit their applications in the same municipality the investment was made. Under this system, some offices had waiting times of several months, while others were able to process virtually immediately.
In response to the backlog, the SEF changed its regulations to allow investors to file applications with any office, regardless of where in the country their investment was made.
Following the reform, the SEF further reported that only nine applications were still pending on their portal, and that as of now the availability for services is decentralized, meaning that an investor and their family can visit any office of the SEF in any part of the country, by prior appointment. They also stated that in Lisbon, where investor interest is the greatest, ARI service for the following day is immediately available.
It is now reported that SEF has also increased its capacity by boosting its staff numbers, and that golden visa applications and renewals are now generally processed and completed within time frames determined by law – 90 days for the initial visa application, and 60 days for renewals.
While the program did suffer a slight reduction in traffic, particularly from Chinese applicants, presumably due to long delays, with the administrative and regulatory changes that have taken place over the last year, the Portuguese Golden Visa program is looking to retain its success as Europe’s most popular Golden Visa program.
