According to the latest report from the National Statistical Institute (INE), in the second quarter of this year, the average house price in Portugal showed a significant increase throughout the country.
Stressing that there is a tendency to announce prices in Lisbon and accelerate in Porto. Schengen VisaInfo.com reports.
A recent report by the SEF shows that foreigners who intend to settle in Portugal under the Golden Visa program may have to spend more on property in the country after an average rise in house prices.
Figures provided by INE show that average home prices rose between April and June this year in all regions compared to the same period last year.
In addition, the average price of family apartments sold in Portugal was 1,494 euros per square meter, up 2.8% from the first quarter. year, as well as an overall increase of 17.8 percent over the previous year.
According to a report provided by Portugal News, it was highlighted that the Algarve was the region that saw the most price increases during this period, with the rate of annual change exceeding the national average.
At the same time, the Lisbon agglomeration, the Porto agglomeration and the Madeira Autonomous Region also recorded an increase in average prices compared to the values of the previous year.
It was also noted that Alto Alentejo continues to have the lowest average selling price for a family home.
In the second quarter of 2022, homebuyers with tax residency abroad paid an average of €2,292/m2, which is €1,461/m2 more than homebuyers with tax residency in Portugal.
By making a financial contribution and fulfilling certain conditions, foreigners are eligible to obtain a residence permit in Portugal under the Golden Visa program.
Portugal is one of the most popular programs in Europe in terms of investment programs (PIR), despite being often criticized for being involved in many illegal activities such as corruption and money laundering.
This was recently reported by the Aliens and Borders Service of Portugal. 19.00 Applications for the extension of the Golden Visa are accepted. This is more than 60% of the total.
