Real Estate Investor Magazine South Africa December 14/ January 15 | Page 56

FOREIGN

BY ANDREW RISSIK

Portugal’s

Recovery Plan Attracts Investors:
Looking to Secure a Foothold in Europe

I

nternational property purchases through Portugal’s
Golden Residency Permit Programme have given
many South Africans a route to European Union
residency that were not traditionally open to them.
However, these properties have not offered a large
return on investment. While estate agents do their best
to ensure properties are fairly priced, the investment is
predominantly a means to an end. Recent developments
show that this is changing, at least in the short term.
A combination of tax and residency visa incentives
are driving an increase in direct foreign investment in
Portuguese real estate, in and around the capital city
of Lisbon, as well as in certain pockets on the Algarve.
It seems like property investment via the Golden
Residence Permit Programme is now offering m ܙB