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Huge Demand for Portuguese Properties from Wealthy French Buyers


Huge Demand for Portuguese Properties from Wealthy French Buyers

 Are you planning to sell your property in Portugal fast? There is a lot of demand for properties for sale in Portugal, especially from French nationals who are looking to invest in Portugal in a big way. A number of older French nationals, especially those in their 50s and 60s, have been moving to Portugal following their retirement.

The reason is the low rate of taxes in Portugal compared to France, and the more relaxed, laid back lifestyle that appeals to them. They also like the fact that Portugal is a safe country, with a very low crime rate, perhaps one of the lowest in the world.

Claude Berda, a major French businessman who recently sold his company AB Group, explains why he has chosen to move to Portugal like many other French nationals of his age. He also talks about this decision to buy property in Portugal online.  

Mr. Berda said, “Portugal is definitely my next big project. I’ve spent some time with real estate brokers and they’re looking for properties to sell. They don’t have enough product. The market is very good and strong.”

Taxes are perhaps the most important reason why the French are moving to Portugal. As Lisbon real estate agent Paulo Silva explains, outgoing French President Francois Hollande should be thanked for the massive interest in Portuguese property from French nationals.

"The French president's taxes are prompting many to flee their country. Many of these wealthy French are coming to Portugal to take advantage of a series of tax benefits that are better than in other countries," Mr. Silva said.

Geoffroy Moreno is a 35-year old Frenchman who has moved to Portugal and invested in a big way in real estate here and has been calling upon his compatriots to do the same. Mr. Moreno said, "I have many French friends calling me about properties in Lisbon. The French, especially those with money, are looking to escape Hollande's aggressive fiscal policy and taking advantage of Portugal's generous tax benefits for foreigners."

Portugal has certainly benefited from the Golden Visa program through which the country offers residence permits to non-EU nationals who invest 500,000 EUR or more in properties here.

Of course, the Golden Visa does not benefit French nationals who are already granted residency permits in Portugal as citizens of the European Union, but it has found a plenty of takers from emerging economies such as China, Russia, Brazil and Malaysia as well as from a number of wealthy people from the Middle East.

Fernando Neves, a real estate agent based in Lisbon emphasizes this point. He says, "You see a lot of French and Chinese potential buyers here these days. We're telling these clients that tax benefits and golden visas are like golden opportunities, they won't last forever."

Portuguese Economy Minister Antonio Pires de Lima says that his country has been served well by providing tax breaks and golden visas to foreign investors looking to buy properties here. He says that such have "attracted a lot of foreign investment.” 




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