Toying with the idea of invest in property in Portugal? Over the past decade, the international property market has seen many destinations across the globe flaunted, but none are as rewarding and popular as Portugal. A favourite destination for many South Africans, Portugal is an incredible country to live and invest – and here’s why!
A steady and reliable property market
One of the most appealing benefits of investing in property in Portugal is that it has a steady and reliable property market with an average property growth of 15% per annum. The tourism industry in Portugal has proven to be an all-year-round financial windfall. In fact, in 2013 Portugal brought in over 6 billion Euros from tourism alone, which is brilliant for a rental income in high rent areas such as Cascais, Estoril and Sintra in Lisbon. These prime areas not only offer high rentals, but they also offer lucrative resale opportunities with a profitable return on investments.
A safe and superior quality of life
While Portugal offers South African offshore investors a superior quality of life, it is also one of the safest and most beautiful cities in Europe with the lowest crime rate. A free-market economy that boasts an all-year-round mild Mediterranean climate, a breathtaking coastline, green landscapes, great nightlife, a wealth of golfing resorts, a cosmopolitan café culture, excellent schools and universities, and a low cost of living – Portugal has it all. It’s easy to see why real estate in Portugal is one of the most attractive offshore investments of the world today.
Freedom to travel, study and live in Europe
Another benefit that is causing quite a buzz is the freedom to work, travel, study and live throughout the EU and UK. While Portugal has excellent international connections and is a member of the European Union, the Eurozone and the Schengen Space, there is also the option of qualifying for the Golden Visa program. This is an enormous benefit for South African investors who want to give their children the option of international education with greater career and travel opportunities.
Investing in property in Portugal has become a major draw for South African investors, and with South African citizens now able to access a mortgage, jobs, travel and education, it’s worth looking into!