Reasons Why You Should Invest 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. Over the past few years, a lot of foreign investors have begun investing the real estate market in Portugal and this is one of the main reasons why the economy of Portugal has grown so much in the last year. There are a lot of factors that seem to attract foreign investors to Portugal. Discussed in this article are some of the reasons why real estate in Portugal seems to be so appealing to foreign investors.
The first reason is that Portugal is one of the greatest countries 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 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.
If you have a golden visa, there is good news for you because you will be easily accepted into the country. 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. A golden visa gives residence to any non-EU national seeking to live in the country. Portugal’s investment laws are not very strict because a foreign investor does not have to reside permanently in the country to be considered, rather they can choose to be in the country for as short a time as seven days per year.
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.