Lis­bon is the New “It” Place

SLOW Magazine - - Contents - Text & Im­age © Pam Gold­ing In­ter­na­tional

With Por­tu­gal hailed as the “Cal­i­for­nia of Eu­rope” and named World’s Best Tourist Des­ti­na­tion in the 24th edi­tion of the World Travel Awards, the vi­brant cap­i­tal city of Lis­bon and coastal town of Cas­cais, just 20 min­utes away from each other on the Por­tuguese Riviera, have be­come prime global hotspots.

And, South African buy­ers are right on trend. Un­der­go­ing large scale re­gen­er­a­tion, Lis­bon is prov­ing a mag­net for buy­ers as a hard cur­rency in­vest­ment with solid re­turns and good long-term cap­i­tal ap­pre­ci­a­tion prospects, as well as for the op­por­tu­ni­ties it opens up for the free­dom to travel abroad.

Says Chris Im­mel­man, MD of Pam Gold­ing In­ter­na­tional: “As an op­tion, prop­erty in­vest­ment in the his­toric city of Lis­bon in Por­tu­gal stacks up in­creas­ingly well when com­pared with other pop­u­lar Euro­pean des­ti­na­tions – both for lo­cal and in­ter­na­tional buy­ers.”

“For South Africans, the ben­e­fit of be­ing able to ac­quire a Schen­gen Visa and Por­tuguese res­i­dency is a huge draw­card as it cre­ates in­ter­na­tional op­por­tu­ni­ties for their chil­dren, en­abling them to study, live, and work in a Euro­pean coun­try. There are ex­cel­lent ed­u­ca­tion fa­cil­i­ties in Por­tu­gal and in Lis­bon, in­clud­ing in­ter­na­tional schools and uni­ver­si­ties – like the renowned Nova Univer­sity where all classes are taught in English – as well as very good health­care fa­cil­i­ties.”

The Golden Visa scheme of­fers Por­tuguese res­i­dency in re­turn for a min­i­mum €500,000 real es­tate pur­chase, with per­ma­nent res­i­dency achiev­able in year six and cit­i­zen­ship in year seven.

Adds Im­mel­man: “With prices still 50% be­low cities like Lon­don and Paris, we see solid rental yields and long term cap­i­tal ap­pre­ci­a­tion con­tin­u­ing. Re­ferred to as the ‘new Barcelona’ with a nightlife to ri­val that of Ber­lin, Lis­bon has it all: a trendy am­bi­ence steeped in his­tory and cul­ture, a world-class air­port, qual­ity ac­com­mo­da­tion, and a place where English is widely spo­ken.”

“Ac­cord­ing to A Place in the Sun, the city ranks third on their 10 best places to buy abroad in their 2017 in­dex. Por­tu­gal is also en­tic­ing from a tax as­pect, with rel­a­tively low tax rates of about 28% and no wealth or in­her­i­tance tax or tax on over­seas pen­sions.”

“In­vest­ment prop­er­ties – apart­ment style, which re­quire very lit­tle main­te­nance – are eas­ily let­table, par­tic­u­larly as busi­nesses both big and small are tar­get­ing Lis­bon, fur­ther fu­elling a strong rental mar­ket for well-po­si­tioned prop­erty.”

For fur­ther in­for­ma­tion con­tact Theresa Fer­nan­dez of Pam Gold­ing Prop­er­ties In­ter­na­tional & Projects Di­vi­sion on por­tu­gal@pam­gold­ or +27 21 762 2617.

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