Hong Kong citizens are increasing their investment in Portuguese Golden Visas. Find out why
The increase in demand from Hongkongers looking for a safe haven amid the protest chaos back home is hugely contributing to Portugal’s property market, especially in the last few months.
The Portuguese Golden Visa has been particularly attractive for Hong Kong citizens, has half of the buyers from this country aim to obtain permanent residency in Portugal under this program. This has been their backup plan in case they need to leave the country in a hurry in the near future.
The volatile environment in Hong Kong has led many to seek safety overseas, with Europe being one of the favorite destinations. As residents seek a European country to escape from the violence back home, Hong Kong is rapidly becoming one of the top sources of foreign investment in Portuguese properties, giving the combination of qualities Portugal has that can’t be found anywhere else.
What attracts them, besides the enormous variety of Portugal’s appealing qualities, is the fact that Portugal is one of the safest countries in the world. Among these are also the low cost of living, the excellent climate and rental yields ranging from 5,5% to 6%, especially in Lisbon.
This results in wealthy residents and investors seeking an alternative amid the escalating political tensions in Hong Kong. Adding to this, the relatively low entry requirements when compared to other countries are also a plus for foreigners seeking residency in Portugal under the Golden Visa program, adding up to the perks that this program grants investors.
This increase in demand from Hong Kong citizens has taken Portuguese real estate agents to travel to the city to meet with clients and better advise them in their decision to move to Portugal and on what property to choose.
This has led us to open our 3rd international office, this time in Hong Kong, run by Tanya Reda, the Chief Operating Officer of UrHome Portugal in Hong Kong. You can find us at Level 19, Two IFC Hong Kong 8 Finance Street, Central or call us at +852 3101 7436.