The combination of growing national demand and escalating raw material prices in India mean that investing in real estate (particularly in newly-constructed or under-construction properties) is growing more expensive with every passing month.
As India’s property market booms, other global markets become increasingly attractive to Indian investors (particularly those who already own a home here). At Living Luxury Real Estate, we evaluate real estate investments from a holistic perspective, seeking to maximise our client’s return on investment, both financially, and spiritually. In addition to financial benefits, such as capital appreciation and rental income, investing abroad can also bring expanded happiness and quality of life, including the opportunity for foreign residency, and ultimately, citizenship (if that is what a client desires).
Why Portugal?
The combination of dry, Mediterranean weather, a unique culture, and a rich history make Portugal a beautiful destination for tourists and investors alike. Portugal is known for its picturesque coastal towns and cities, making it a prime destination for those looking to purchase a holiday home or rental property. The country’s mild climate, stunning beaches, and historic landmarks attract millions of tourists each year, providing a strong rental market for investors.
Another benefit of investing in Portuguese real estate is the relatively low cost of living. Portugal offers a high standard of living at a fraction of the cost of other European countries. This is particularly attractive for those looking to retire or relocate to a more affordable location.
In addition to these practical benefits, Portugal also offers a stable political environment and a strong economy, making it a safe and secure place to invest in real estate. The country has been a member of the European Union since 1986 and has a strong track record of political and economic stability.
Finally, the Golden Visa program, which grants residency to non-EU citizens who invest in Portuguese real estate, can be a great opportunity for international investors. This program allows investors to enjoy all the benefits of living in Portugal, including access to healthcare and education, while also allowing them to travel freely throughout the EU.
What is the Golden Visa program?
The Portuguese Golden Visa program, also known as the Investor Visa, is a program that grants residency to non-European Union citizens who invest in Portuguese real estate. The program was introduced in 2012 and is aimed at attracting foreign investment to the country.
To qualify for the Golden Visa program, investors must make a qualifying investment in Portuguese real estate. The minimum investment required is €500,000 (approximately ₹4.4 Cr) , and it can be made in one or multiple properties. Additionally, the properties must be in good condition and cannot be located in restricted areas, such as protected natural parks or areas of historical or cultural significance.
Once the investment has been made, the investor will receive a residency permit, which is valid for a period of two years. After the two-year period, the permit can be renewed for an additional two years, provided the investment is maintained. After five years of residency, the investor can apply for permanent residency, and after six years, they can apply for Portuguese citizenship.
One of the main benefits of the Golden Visa program is that it allows investors to live and work in Portugal, and also travel freely throughout the European Union. Additionally, investors and their families will have access to the country’s healthcare and education system.
The Golden Visa program has been successful in attracting foreign investment to Portugal, particularly in the real estate market. According to the Portuguese government, more than €6 billion in investments have been made through the program since its inception, with Chinese investors being the largest group of participants.
In conclusion, the Portuguese Golden Visa program is a valuable opportunity for non-EU citizens looking to invest in Portuguese real estate, and also gain a European residency. The program offers a range of benefits for investors, such as the ability to live and work in Portugal, travel freely in the EU, and access to healthcare and education. The program has been successful in attracting foreign investment, particularly in the real estate market and it’s a way for non-EU citizens to gain a foothold in Europe.
Where in Portugal?
Portugal offers a wide range of properties, from historic homes to modern apartments, and a variety of attractive locations to choose from. However, some markets are more sought-after than others, and it’s worth considering these when making a real estate investment.
Lisbon
The Portuguese capital is a top destination for real estate investors – and it’s also the city that one of the Living Luxury Real Estate partner consultants, Suvir Malaney, calls home. With its rich history, vibrant culture, and growing economy, Lisbon has become one of the most popular cities in Europe. The city’s property market is booming, with prices rising steadily in recent years. Lisbon is known for its charming neighborhoods, such as Alfama and Chiado, which are popular among buyers looking for traditional Portuguese architecture.
Cascais
Cascais is a coastal town located in the Lisbon district of Portugal. It is situated on the Atlantic coast, about 30 kilometers west of the capital city, Lisbon. Cascais is known for its picturesque historic center, beautiful beaches, and mild climate. The town is a popular destination for both tourists and residents, and its property market has been growing in recent years.
Cascais has a long history, dating back to the Roman period. The town was once a small fishing village, but in the late 19th century, it was transformed into a fashionable summer resort for the Portuguese aristocracy. Today, Cascais has retained its charm and is a popular destination for those looking for a traditional Portuguese town with a modern twist.
Algarve
The Algarve is a region on the southern coast of Portugal, known for its beautiful beaches, picturesque towns, and warm climate. The Algarve is a popular holiday destination, and its property market is driven by tourism. Investors can find a variety of properties here, from luxury villas to more affordable apartments. The region is home to several sought-after towns, such as Albufeira and Vilamoura, which are popular among buyers looking for a holiday home or rental property.
Porto
Porto is Portugal’s second-largest city and is located on the northwest coast of the country. The city has a rich history and culture, and has been gaining popularity among tourists in recent years. The real estate market in Porto is growing, with prices rising steadily. The city is known for its traditional homes, many of which have been recently restored, and its picturesque neighborhoods, such as Ribeira, which are popular among buyers looking for a traditional Portuguese property.
Silver Coast
The Silver Coast is a region located on the Atlantic coast of Portugal, north of Lisbon. The region is known for its beautiful beaches, historic towns, and affordable property prices. The Silver Coast is a popular destination for those looking for a holiday home or rental property, and the region is home to several sought-after towns, such as Nazaré, which is known for its traditional architecture and great surf. Though Cascais is technically part of the Silver Coast, other villages further away from Lisbon offer a more quiet, peaceful lifestyle.
At Living Luxury Real Estate, we closely advise clients on their international real estate investment options (including Portugal). We Portugal offers a wide range of real estate options, and each market has its own unique characteristics and benefits. Lisbon, Cascais, Algarve, Porto, and the Silver Coast are among the best real estate markets in Portugal, offering investors a variety of properties and locations to choose from. Whether you’re looking for a holiday home, rental property, or a place to retire, Portugal has something to offer. It’s worth doing your research and carefully considering your options before making a real estate investment in Portugal.
Golden Visa Permanent Residency Portugal
Last modified: September 29, 2023