GV property investments in Lisbon and Porto booming

Almost eighty percent of the properties purchased this year, under the Golden Visa regime, are located in the districts of Lisbon and Porto.

According to Jornal de Notícias, contrary to the plan from the government to attract investment away from the cities and the coast, only 61 (i.e. 7.5 percent) of the properties purchased through the Golden Visa programme are located in sparsely populated regions, while 465 are in the district of Lisbon and 178 in Porto.

Since January 1, the Government was aiming to make it challenging to issue residence permits to anyone buying houses in the two largest cities and on the coast. However, the data shows just the contrary - that the Government's objective of making it difficult to issue residence permits to those who bought houses in the two largest cities and on the coast was not achieved.

Portuguese government fails to promote Golden Visas in rural areas.

In fact, going by the available data, the less populated areas did not attract the type of investors the Government was looking out at all. Of the 808 properties acquired, only 61 (7.5 percent) are located in sparsely populated areas. Conversely, the city of Lisbon alone has almost half (49.4 percent) of the properties transacted until October, totalling three hundred and ninety-nine properties.

Likewise, there were other municipalities of Greater Lisbon district where more properties were purchased with the coastal town and municipality of Cascais leading with 37 transactions, followed closely by Sintra with ten property transactions and Oeiras with nine.

In the northern Porto district of Portugal, the municipality and city of Matosinhos which is bordered in the south by the city of Porto had the highest number of transactions with twenty property deals successfully completed, followed by Marco de Canaveses with nine and Gaia and Amarante with five each.

In the Algarve region, Lagos led with fifteen properties purchased, followed by  Loulé with fourteen and Albufeira with eleven.

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