According to the latest statistics issued by SEF, the Portuguese Golden Visa programme appears to remain untouched by the global pandemic. By the end of August 2020, Portugal had already issued more than 900 residency permits to main applicants this year. This is 73% of the total for 2019 in just eight months. If issuance levels continue at this pace for the rest of 2020, Portugal is on track to exceed last year’s figures by 10% or more.
Not only are application approvals running high, but the amount of investment being generated each month is substantial too. May 2020 proved to be the most impressive month so far this year, generating a staggering €136,913,745 of real estate investment in just one month, despite being in the depths of a global pandemic. Figures remained high in June, with over €83 million in property transactions and more than €50 million in July. This is a remarkable outcome considering the negative impact that the Coronavirus outbreak has had on other economies and real estate markets across the world.
To date, Portugal’s Golden Visa programme has generated over €5.5 Billion worth of investment since its inception in 2012, and more than 15,500 residency visas have been granted. This programme has proved to be an extremely popular and resilient programme for investors looking to gain access to Europe. For more information on the programme, please contact our team.