Goldcrest Properties and Global Citizen Solutions launch a guide with a step-by-step for foreign investment in Portuguese Real Estate
Real Estate Market in the jewel of the Iberian is growing strong amidst the pandemic, with sales in the first quarter of 2020 over 50% of previous two years Portugal may be a small European nation nestled in the Iberian Peninsula, but its spectacular beauty, thriving culture, and history attracted over 70.000 expats to its Atlantic shores in 2019, an increase of 68% from 2018. And with a number of awards under its belt, including being elected the best country to retire in by the Annual Global Retirement Index, it’s no surprise the Portuguese real estate market is booming, with over €20mi invested in properties in the 3rd quarter of 2020 alone (Bank of Portugal).
Whether investors are retiring or just looking for a home in the sun, acquiring property abroad requires rigorous research. Portugal-based buyer’s agency, Goldcrest, is now sharing years of experience in the market with their brand-new e-book: Your Expert Guide to Buying Property in Portugal.
The comprehensive guide will provide readers with an up-to-date account of the real estate market in Portugal, in the context of COVID-19 and Brexit whilst highlighting the most desirable locations to buy a property. As a local buyer’s agent based in Portugal and a division of investment migratory agency Global Citizen Solutions, Goldcrest shares insightful expertise and strategic advice based on years of experience from sourcing to property acquisition. The book was designed as an easy six-step guide to the house purchasing process, highlighting potential pitfalls to watch out for and practical information on what a move to Portugal will be like for retirees, investors, and individuals interested in a second citizenship. Priced at USD 10.59, the e-book is now available for download via Amazon, directly through the Goldcrest website
An attractive growing market, even in times of a pandemic Portugal has built a strong reputation as a safe and stable country, and international buyers are attracted by its investment opportunities and tax-friendly policies. In the 1st quarter of 2020 alone, real estate investment in Portugal was almost 50% of the total volume of investment experienced throughout the two previous years (Savills Portugal, 2020), indicating that the market is on an upward trend. While average house prices in Lisbon fell during 2020, they continued to increase in Porto and the Algarve.
Internationally sought-after real estate market
The Algarve has long been known for its strong community of British expats accounting for 33% of foreign purchases of property in the Algarve in 2019, but they are not alone in the south. “The French, German, Dutch and Swedes also making purchases in the south. In Lisbon, it may be interesting to see that the largest European buyers of properties are the French. It is a similar story in Porto, with the French purchasing over three times more property than any other European country, although Swiss and British nationals are also snapping up properties here.” says Patricia.
However, when it comes to investments to gain a residence permit, through Portugal’s Golden Visa scheme, China, Brazil, and USA are topping the charts. “With an investment of €350,000 or more in the country, Chinese, Brazilian and North American investors are seeking to gain EU rights and an entryway to the rest of Europe. But these rules are due to change in 2022, and we are also covering these aspects in our e-book.” – concludes Patricia.
About Global Citizen Solutions and Goldcrest Properties
Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship planning for individuals wanting to secure their future and become global citizens. In 2018, Global Citizen Solutions launched their dedicated real-estate division: Goldcrest Properties, a buyer’s agency specialised in Portuguese real estate. With offices in Portugal, UK and Brazil, our multicultural and multilingual team will guide individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.