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Thursday, 18 February 2021

Portugal : Golden visa scheme deadline extended to 2022


The Portuguese government has decided to extend the deadline from July 2021 to January 2022 to exclude investments in Porto and Lisbon from the country’s Golden Visa program. 


The Portuguese authorities tried to ban investment in two cities and regions in the Algarve in December last year to encourage investment in less popular areas, the announcement came before the Portuguese authorities. 


Some brokers believe that all applicants still have six months of investment time, which is expected to increase inquiries about housing, especially for Hong Kong citizens interested in permanent residence in European countries. 


Last year, in the context of the rapid spread of the coronavirus pandemic, housing prices in Portugal rose by 5.9%, which made housing expensive for many locals. 


In 2020, due to the devastating situation caused by the coronavirus outbreak, the unemployment rate increased by 6.8% from the 2019 figure (6.6%).

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