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 in the favour of real estate in Portugal. In this article, we look at a number of reasons why there is a constant increase in the number of real estate investors in Portugal.
Firstly, Portugal is one of the best places you can wish to live in. Very few countries can claim to offer the quality of life that Portugal offers its permanent settlers as well as those on holiday in the country. This country is unbeatable in Europe when it comes to services such as quality housing for all its inhabitants, quality health care services and perfect work-life balance for all its citizens. Its tourism sector has also risen because of areas such as Lisbon and Algarve Lifestyle. 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. 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. A golden visa gives residence to any non-EU national seeking to live 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. However, it is important to note that tax laws are constantly changing and it would be best to ensure that you are up to date before you make any investment.