Luís Lima, president of the Portuguese association for real estate agents (APEMIP), recently spoke of a lack of high value property for sale in parts of the Algarve, which could threaten the future of the Government’s Golden Residence Permit Programme: Meravista, the Algarve’s biggest property portal, disagrees.
The Government’s Golden Residence Permit Programme was launched in 2012. One requirement to qualify for a Permit is the investment of €500,000 or more in Portuguese property. So far, a total of 1,649 'Golden Visas' have been issued. Of those, 1,563 were via property investments and 80% of investors were Chinese.