Looking for Property for sale Portugal – Portugal Golden Visa Changes Put on Ice?
The Portuguese federal government’s proposed Golden Visa plan changes in February 2020, which would have blocked financiers from purchasing residential or commercial property in central Lisbon and Porto from 2021, has supposedly been suspended due to the COVID-19 pandemic.
“The modifications are not a concern at the minute,” a source from the Ministry of Foreign Affairs presumably informed the media outlet Dinheiro Vivo.
The changes were proposed to drive financial investment in low-density zones, evenly balance out the home market and motivate foreign investment into other areas of the nation, relieving pressure from city locations. Experts from the residential or commercial property sector have expressed issues that the Golden Visa scheme changes might damage the home market.
For Global Resident Solutions Director Patricia Casaburi, the federal government’s costs in favour of limiting Golden Visa realty financial investment in Portugal’s key cities could come “as a blow to a growing market.” The causal sequences have begun already.
And combined with the COVID-19 pandemic, which has actually plunged the world into an unmatched economic downturn, implies that people searching for property for sale in Portugal and foreign investment has actually slowed down in Portugal, with the variety of Authorisations of Residency for Investment cutting in half in February alone.
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