The temporary suspension of the Golden Visa program is being given as the primary reason behind the 4.7% fall in property sales in Portugal in the second quarter of 2015. However, property sales this year are still up 25% compared to 2014, thanks to a strong first quarter.
Portuguese officials had announced the suspension of the country’s “Golden Visa” program on July 14 pending an adjustment to its immigration laws. The suspension was lifted in September when key updates to the Golden Residence Permit Program were officially written into law. The changes included an expansion to the scope and terms of investment, and included a reduction in the minimum qualifying capital investment.
Following the revisions, the Portuguese residence-by-investment program has become the most affordable residence program in the EU, with permanent residence granted by investing as low as 200,000 Euros.
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Source: theportugalnews.com