In recent years, people from across the globe have been increasingly buying properties in Portugal, in order to use them not only as vacation homes but also as an official place of residence. Other investors, however, have taken advantage of increasing property prices and invested in properties to enjoy higher returns on their investments.
The best cities to invest in Portugal real estate today are Porto and Lisbon.
Portugal has historically been the home to a large variety of cultures. Multiculturalism is still evident in many parts of the country. People of different cultures have settled all over Portugal and are actively contributing to the cultural diversity of the region, promoting a healthy exchange of traditional values and cultural norms. This Lusitanian nation is known for its hospitality to foreigners and utmost respect for foreign cultures and values.
In addition to that, Portugal has one of the best climates around the world with an average of 220 days of sun. What makes it unique is that it is the European country which sees the sun the most. However, it is not correct to assume that the weather remains monotonous. You can leave a blue panorama and enter into white snowy weather in a matter of just a few hours!
The beauty of such a varied climate allows diverse natural landscapes to come into existence. As a result of this variation of climate, here you will be able to observe the most enchanting beaches across the globe, a wide variety of lush green plains, spectacular mountain ranges of abundant vegetation and also a beauty of mystical nature in its wildest form.
A culture of dynamic cities, frequent walks and stays on the beach, countryside bike rides or boat rides on the high seas and the possibility of enjoying cool drinks on a promenade at the end of every day. These little pleasures may not seem like much to the locals but they mean a lot to foreigners who are looking for a place to feel safe and sound while enjoying their vacations and experiencing their dreams come true.
The government of Portugal has been promoting its real estate market for a long time now, in order to attract foreign investment. The national economy and the inherent beauty of the country make it feasible to focus on foreign investment in real estate to create local jobs. The country breathes confidence, aspiration and vitality. A low cost of living, a stable real estate market and magnificent tourist spots make investments in the Portuguese real estate the best choice for foreign investors.
Last but not least; foreign investors enjoy large tax benefits if they buy property in Portugal. Investors are offered tax benefits for 10 years on pensions along with reductions in their personal income tax rates for “non-habitual residents”. Non-European investors have the option to apply for the Golden Visa Program. This golden opportunity also allows foreign investors to roam around in Portugal and the whole Schengen area without any hassle. To benefit from this opportunity, investors have to make a real estate investment of €500,000 or more. It is a wonderful opportunity for foreigners looking to obtain residence permit in a European country as beautiful as Portugal.