Updated: Aug 17, 2022
From over 50% historical share of the Portugal Golden Visa, the Chinese now make up less than 20% of the investors so far in 2022.
While this article in Bloomberg specifically analyses the reasons for this change in Chinese applications, it also points to the extremely dynamic scenario in the Residency By Investment space given the current geo-political climate. Rules are changing, priorities are changing, markets are changing....who woulda thunk that Americans would make such a beeline for a European home?
One could react in 2 ways -
a. become paralyzed by this fluid dynamism, or
b. become more agile and decisive with respect to your Plan B, while keeping a firm eye on the movements. And given the way the Portuguese Golden Visa programme is structured where the investment can be fully in your control with no lock-in, we believe it offers sufficient flexibility to change course, should the situation demand.
And for those worried that there may be a Real Estate Bubble thanks to the Golden Visa, "Golden visas now account for as little as 3% of property deals in Portugal, according to Paulo Silva, head of real estate consultancy Savills in Portugal." Another interview with the JLL Portugal CEO also points in the same direction - the current real estate market is not propped up by Golden Visa investments.
You can also read our report on what is the scenario on ground in Portugal.