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Changes to the Golden Visa and why the Algarve is your best investment!

Changes to the Golden Visa and why the Algarve is your best investment!

Changes to the Portuguese Golden Visa scheme have been announced this week and it is good news for the Algarve! In changes proposed by the government, it will no longer be possible to obtain a Golden Visa by investing in the country’s two biggest cities, Lisbon and Porto, meaning that the Algarve will become one of the most attractive locations in the country for investors looking to secure the best return on their investment.

 

Since the launch of the Golden Visa scheme in 2012, of the 4.5 billion euros that has been invested into Portugal through property purchases, two-thirds has been in Lisbon and Porto. The government has been forced to make changes though as the success of the scheme in these metropolitan areas has seen property prices being driven up to the detriment of the Portuguese people.

 

Until now, many people seeking a Golden Visa have been keen to invest in the big cities as that was where they were likely to see the biggest return on their investment but, with these changes, more will now be looking towards the Algarve where holiday rentals are in high demand. 

 

As well as already offering lower investment rates for Golden Visa than other places in Portugal (from 280,000€ instead of 350,000€), one of the main attractions of the Algarve is it booming tourism industry. Here it is easily possible to invest in resorts and properties suited to holidays and receive a good rental income in return. As an added advantage, investment into these types of properties encourages spending by holiday makers which in turn benefits the local community. 

 

With a fantastic array of properties in the Algarve to choose from and a successful rentals and property management service, Ideal Homes International is well placed to help anyone looking to obtain a Golden Visa to choose the most lucrative investment property for them. Also, with the onset of Brexit, this will now also apply to British people who are keen to retain their access rights within the EU. 

 

Find out more about the Golden Visa requirements here or get in touch now for more information.

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