Portugal extends the “golden visa” program

1. New features of the “golden visa”


From November 26, 2017, new rules for obtaining a Visa by investment came into force in Portugal. Now foreigners can apply for a residence permit subject to an investment of € 350,000 in a new or existing Portuguese company for a period of three years. It is important to create or save five jobs.


Perhaps the authorities decided to expand the program to increase the flow of investors. Not so long ago, Portugal was overtaken by the popularity of the “golden visa” in Spain. And the volume of investments in Portuguese real estate under this program has decreased. Well, wait and see.


2. Exit dusk



The Minister of Sustainable Development and Tourism of Montenegro Pavle Radulovic said that the authorities are ready to launch a real estate legalization program. The government expects to receive at least € 40 million from it.


If the property is not legalized, its owners will pay heavy fines, and the buildings themselves will be demolished. The elimination of illegal objects is scheduled to begin at the end of the year. According to official statistics, there are 40,000 illegally constructed buildings in Montenegro. And according to unofficial information, this figure reaches 100,000.


3. Students are more profitable than tourists



Uniplaces conducted a curious survey. According to the data obtained, the rental income from students in the medium and long term is higher than the rental income from tourists.


The average cost of renting a room to a student in Spain is € 400 per month. This means a profit for a homeowner in the amount of € 4,780 per year, excluding fees and property taxes. And the average annual income from renting housing to tourists in the city in 2015 was € 4,120. Well, time to go on a “hunt” for knowledge seekers!


4. Faster, higher, stronger



According to the company Knight Frank, for the year to September 2017, the most expensive property in Iceland – by 20.4%. Hong Kong (+ 17.5%) and the Czech Republic (+ 13.2%) are next. That’s really not expected from the Czech Republic!


The top 10 also includes Malta, Canada, Turkey, Australia, Latvia, India and … Bulgaria. So investors are advised to look at the Bulgarian real estate now.