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Gold Coast, Oct 3: Amidst Australia’s rising interest rates, Australian homebuyers have been snapping up property in Portugal.
Investors have been taking advantage of the country’s Golden Visa Program to enjoy Portugal’s warm sunny climate, lower cost of living and the chance to secure a European passport.
“The Portuguese Golden Visa Program is a fast and affordable way to gain EU citizenship, and we have seen a surge in Australian investors taking advantage of this and purchasing the quality homes on offer,” Chris White, CEO, Ideal Homes Portugal said.
“The generous Golden Visa Program lets participants obtain a visa by investing at least 500,000 euros in real estate.
Through the program, investors and their dependents can obtain a Portuguese passport after five years without relocating to Portugal,” he added.
Once you have a second passport through being a citizen of Portugal, you can live, work and study anywhere in the EU.
Significantly, applicants do not have to reside in the country at any point.
Applicants and their family need only to visit Portugal for two weeks every year to renew the visa.
“This means people can be granted citizenship without actually living in the country, which is different to many other countries worldwide,” said White.
Access to Portugal’s high-quality healthcare, education systems and first-rate job opportunities are other key drivers prompting Australian buyers to opt in for Portugal’s Golden Visa program.
“With its warm climate, stunning beaches, fine cuisine and laid-back lifestyle, Portugal is one of the most attractive countries for overseas investors looking to live, work or retire in the EU.
“Savvy investors realise that the market is likely to get hotter and are jumping in now,” White added.
For more information on the Golden Visa Program and properties on offer go here.
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