Portugal may be gaining ground as the new destination of election for thousands of British. For a long time, and according to the Spanish newspaper HuffPostit was Spain who occupied the top of preferences, thanks to the mild climate, quality of life and affordable costs. However, this scenario seems to be changing.
For decades, several Spanish regions have been used to receiving a constant flow of visitors from the UK, especially in the hottest months. Extended beaches, favorable climate and Mediterranean cuisine were part of the package that enchanted thousands of British.
The incentives that attracted investors
In recent years, one of the great incentives for the installation of foreigners in Spain was the so -called “Golden Visa” program, created in 2013. This regime allowed citizens outside the European Union to obtain a residence permit by purchasing a property of at least 500,000 euros.
With this measure, the Spanish authorities sought to attract foreign investment and streamline the real estate sector, which still resented the financial crisis. The result was a significant influx of buyers, including many British.
Change in Spanish policies
Despite economic benefits, the Spanish government has recently decided to end this mechanism. The decision was taken to the Council of Ministers in November 2024, ending over a decade of benefits directed to foreign investors.
Access to housing in question
The main advanced justification for the end of the program is impact on the local housing market. The Spanish executive considers that the mass acquisition of homes for non -residents has faced prices and made it difficult to access the population.
Portugal takes advantage of the moment
With Spain out of the equation, Portugal is highlighted among the most sought after destinations by British for this type of investment. In addition to geographical and cultural proximity, the conditions offered are still advantageous for those interested in obtaining residence through investment.
Unlike Spain, the Portuguese Gold visa regime remains in force and has been optimized. Several measures have been taken in recent months to streamline processes and reduce bureaucracy, making the procedure more transparent and swift.
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Numbers that prove growth
Administrative modernization has contributed to a significant increase in demand. Recent data show that by 2024, the number of properties purchased from the Gold Visas in Portugal rose 165% over the previous year.
These numbers show that our country is taking the opportunity to capture new investors. According to the same source, the regime has already allowed to attract more than £ 6.200 million to Portugal, a relevant contribution to the national economy.
Other countries follow the same line
However, other countries also begin to follow the same path. Greece, for example, is evaluating ways to facilitate access to residence for foreigners, promising simplified processes and decisions in just 60 days, according to the.
Benefits for various sectors
Programs like Visas Gold are effective to stimulate foreign investment and boost sectors such as real estate and tourism. By maintaining this model, Portugal is strategically positioned in the European context.
A growth that requires balance
Although the arrival of more foreign investors represents an economic opportunity for Portugal, especially in regions such as the Algarve, the debate on the effects of this phenomenon on local communities is also growing.
Like what happened in Spain, critical voices begin to emerge that warn of the impact of intensive tourism and real estate speculation on access to housing and the quality of life of residents.
Change can benefit the Algarve
With Spain closing the doors to this type of investment, it remains to be seen whether neighboring countries will be able to host investors looking for alternatives. The change of scenario can represent a competitive advantage for destinations such as the Algarve. If the trend remains, Portugal could take an even more central role on the European residential investment map.
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