Portugal is rapidly becoming one of the most popular destinations for real estate investment in Europe. With a growing economy, favorable tax policies, and a high quality of life, Portugal offers a range of benefits for investors looking to get involved in real estate development. In this blog, we will explore some of the benefits of investing in real estate development in Portugal.
A Booming Tourism Industry
Portugal has become a popular destination for tourists from around the world, with a record-breaking 12.8 million visitors in 2019 alone. This has created a high demand for rental properties, making it a great time to invest in real estate development in Portugal. With tourism expected to continue growing in the coming years, there is a good chance that your investment will provide a steady stream of rental income.
Favorable Tax Policies
Portugal offers a range of tax incentives for real estate investors, including the Non-Habitual Resident (NHR) program. This program allows foreign residents to pay a flat tax rate of 20% on income earned in Portugal, including rental income from real estate investments. Additionally, there is no inheritance or gift tax in Portugal, making it an attractive option for long-term investments and passing on wealth to future generations.
High-Quality of Life
Portugal is known for its high quality of life, with a warm climate, beautiful beaches, and a rich cultural heritage. This has led to a growing number of ex-pats choosing to live in Portugal, driving up demand for high-quality rental properties. By investing in real estate development in Portugal, you can tap into this growing market and provide attractive living options for those seeking a high-quality lifestyle.
Portugal’s economy has been steadily growing in recent years, with a GDP growth rate of 2.2% in 2019. This growth has been driven by a range of factors, including increasing exports and a growing technology sector. As the economy continues to grow, so too will the demand for real estate, providing opportunities for investors to capitalize on this growth.
Government Support for Real Estate Development
The Portuguese government has been actively supporting real estate development in the country, offering a range of incentives for developers and investors. This includes tax breaks for developers who build affordable housing, as well as grants and subsidies for renovating historic buildings. This support makes it easier and more affordable for investors to get involved in real estate development in Portugal.
Investing in real estate development in Portugal offers a range of benefits, from a booming tourism industry to favorable tax policies and a high quality of life. With a growing economy and government support for real estate development, there has never been a better time to get involved in Portugal’s real estate market. By doing your research and working with experienced professionals, you can find the right investment opportunities to help you achieve your financial goals.