The Government’s “golden schemes” are working wonders on the property market. In the first two months of this year, estate agents saw 30% more people looking for properties than for the same period in 2013 – and, in the main, they are people with ready cash.
According to property agents association APEMIP, the areas most sought-after are in and around the cities of Lisbon and Porto.
Talking to Dinheiro Vivo website, APEMIP president Luís Lima explained the surge of interest was spurred by the golden visa scheme – which has already seen millions of euros ploughed into the economy – as well as the new tax regime for non-habitual residents, which allows retired people 10 years’ freedom from paying tax.
But the internal market is also showing signs of recovery, he stressed, with rural properties – meaning land – being one of the most buoyant sectors in terms of recovery.
Sales and interest in land are rapidly returning to the rhythm of the 80s, said Lima – but the “greatest interest” is coming from investors who don’t need to resort to any kind of credit.
Elsewhere, recent statistics from the Bank of Portugal show that the number of mortgages requested by families is, not surprisingly, on the way down. Nonetheless, the volume of new loans conceded by banks in January this year totalled €149 million.
Property market: buoyant start to 2014
