Gold visa uptake 50 per cent higher than expected

The amount of golden visas issued to foreign investors during 2013 was 50 per cent higher than had been predicted, deputy prime minister Paulo Portas announced.

According to theportugalnews.com, the 471 gold visas issued to foreign investors had brought in an estimated 300 million Euros worth of investment to the country. The Deputy Prime Minister revealed that this amount of investment was double the amount of the predictions made by his office.

A large proportion of the investment came from China, Russia, Angola, Brazil and South Africa, which has given the Portuguese economy the considerable boost that it needed. Many of the properties that were sought out by overseas investment were in prime rental locations in Lisbon, or in resorts in the Algarve area.

The Deputy Prime Minister told portugalresident.com that all the recent figures indicate that the golden visa scheme has had a huge impact on the Portuguese property market, helping to get it moving again.

Mr Portas said: "The fact that we have captured more than 300 million Euros worth of investment through golden visas in just one year is a very practical sign that Portugal is back on the GPA of countries in which it is interesting to invest."

Posted on Friday, January 3, 2014

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