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Lisbon’s property market boosted by incentives
29 May
A recent real estate report revealed that Lisbon’s property market has been boosted by international developers and government incentives.

PropertyWire reports that the golden visa scheme, the most popular incentive of all, has led to 7,291 residence permits being granted to non-EU residents since its establishment in 2012.

Real estate firm Knight Frank showed that Lisbon’s prices are attractive to foreign buyers. Purchasing €1 million worth of property will buy you 125 square metres, while London, for instance, would only provide 43 square metres.

However, it isn’t just the affordable prices that draw in foreign buyers – who mostly originate from Brazil, Turkey, France, the UK and China – but also the low cost of living, improving global transport connections and investment growth.

Lisbon’s attractive qualities include three tech parks, 90 institutions for higher education, two universities and a an environment well suited for start-ups.  

Besides the golden visa scheme, the Government’s Non-Habitual Residency (NHR) initiative is one of great popularity. The incentive enables anyone who has no been resident in Portugal for the past five years to receive pension and rental income, capital gains on real estate and non-Portuguese income tax free – and it is valid for 10 years.

Lisbon boasts a variety for those looking to purchase property. Each neighbourhood offers its own quirky qualities. One could choose the Avenida da Liberdade in central old town, or Baiza, the historic quarter that allows residents to be in close proximity of several entertainment options.

There is also the upmarket district and cultural hotspot of Chiado, which makes some of the highest premiums in all of Lisbon. Those who seek a more peaceful district would turn to Belém, which offers various relaxing, green spots.  

As the report states, rental stock is lacking and consequently leading the investment sector with around 6% achievable of gross residential yields in the city centre, and 8% in the city’s outskirts.

Additionally, as the report noted, the Monitjo Airport is set to open in 2020 and will service 50 million passengers on a yearly basis – forming part of Lisbon’s latest initiatives. Furthermore, a €210 million metro project is currently in the works, which will further boost transport in Lisbon and open new routes.

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