Lisbon and the Golden Visa ~ This is one of my favourite cities in Europe and I could easily see myself living there one day. The arrival and development of tech companies transformed the city in recent years. Today, a mix between culture, heritage, charm, quality of life and hype brought by Gen Z and Millennials new tech entrepreneurs.
Real estate wise, the market has been quite healthy in recent years consistently delivering YOY capital growth of 4% to 6%. This has been mainly driven by international buyers and the Golden Visa scheme, which gives anyone access to the Schengen area (visa wise) for a €500k investment in property. However, this international money and price growth did market out local buyers and the government decided last year to stop the Golden Visa scheme for Lisbon (still available in other areas of Portugal). This came into effect on the 1st of Jan.
How that might affect the property market? With international demand dropping (very likely without the GV incent...
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