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. 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.
The first reason is that Portugal is one of the greatest countries to live in. 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 is known in Europe for ensuring that all its inhabitants have quality housing, health care and perfect work-life balance. Its tourism sector has also risen because of areas such as Lisbon and Algarve Lifestyle. Visitors are pulled to the mild climate of Lisbon and the beautiful beaches of Algarve.
Algarve is also known for its attractive villages. Because of these areas, Portugal receives tourists all year round, thereby making real estate very lucrative, especially for those with rentals.
The fact that Portugal accepts golden visas is another reason why you should consider investing in its rea estate. A golden visa is mainly for people who are not citizens of any European Union countries because if you are a citizen of a EU country, you can work without restrictions in the country because of the existing trade agreement among the member countries. If you are not an EU national, you can apply for a golden visa to give you 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. The current tax regime is quite favourable because your foreign income will not be taxed in Portugal if you choose to invest 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.