Porto, the second-largest city in Portugal, is a hotspot for South Africans investing in property to acquire EU citizenship via Portugal’s Golden Visa Programme. Picture: 123RF/OLENA KACHMAR
Chris Immelman, who leads Pam Golding International, says: “It’s not surprising that Lisbon features strongly on the radar of such investors as, according to the Emerging Trends in Europe 2019 report, it is now the top-rated city in Europe for overall investment and development prospects in 2019, after leapfrogging 10 places to number one.
“Over the past few months, there’s definitely been an uptick in enquiries and sales, mainly for properties in the price band between €500,000 and €1m to meet the minimum investment criteria. “Most of our SA investors in projects such as these are from the major centres, as well as the Boland region in the Western Cape. Apart from all the benefits of a Golden Visa, investors also enjoy rental returns of about 4% gross per year. This compares favourably with other European cities — with Lisbon the best-performing city in Europe over the past three years and still with about upside in the next few years, albeit with slightly lower growth.
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