Considered a “prime pocket” of Portugal, Algarve’s Golden Triangle offers buyers access to the country’s stunning coastlines and golden visa program.
Golden Triangle Becoming Hot-Spot for
Relocators
Always popular with holiday seekers, the Golden Triangle and Algarve overall are becoming hotter and hotter with international seekers of beauty.
After all, who can resist the charm of small fishing villages and breathtaking Atlantic coastlines? And, by the way, west of Portugal‘s Faro, capital of the Algarve region, there are two renowned golf resorts with a third coming to the inland town of Loule.
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Many Existing Homeowners Now Establishing Residency via its Golden Visa Program
According to a recent report from Quinta Property (QP) Savills, more than 65% of this brokerage’s existing clients and buyers are looking to increase their time spent in Portugal with the intention of using Portugal’s golden visa program.
Begun in 2012, Portugal’s Golden Visa Program is one of the most popular residence by investment programs in Europe and the world.
In summary, Portugal’s Gold Visa Program offers:
- Residency permit for investment activity for 5 years.
- Within 5-6 years, opportunity to become Portuguese citizen
- Up until 2022, people can qualify for residency via real estate investments in Portugal and/or capital transfers into the country – beginning in 2022, investment thresholds increasing some 50% (check for dollar amounts with your nearest lending institution/embassy)
- Visa-free access to 188 countries in Europe
Resort Developments Seeing Increased Demand for Housing
According to the Quinta do Lago Real Estate sales team, one of several existing high trending resorts in the area, demand increased an eye-popping +29% in the first half of 2021 compared to the same period in 2020 despite a three-month lockdown. Property inquiries have doubled.
Quinto do Lago has approximately 560 homes on 2,000 acres; Vale do Lobo has approximately 1,5000 residences on 1,111 acres; Quinta Verde has nearly 60 villa residences and Fazenda Santiago in Loule is home to traditional architecture, whitewashed houses, and outdoor markets.
Who’s Buying?
Golden Triangle buyers come primarily from Europe however, an American presence is growing as more and more people take advantage of remote working opportunities.
Currently, most buyers are buying into Algarve’s warm climate, natural environment, surfing and wind sports, good international schools, great dining and nightlife and in Faro specifically, Moorish and Roman ruins and landmarks.
According to Kerstein Buechner with AP Savills, buyers have confidence in investing in the Golden Triangle. “The Algarve…has a long history and prices have never dropped during economic times.”
Thanks to Mansion Global.
