Portugal’s property market gains from Hongkongers looking for golden visa, safe haven amid protest chaos
- An increase in demand from Hongkongers has prompted property agents from Lisbon to travel to the troubled city to pitch to potential buyers
- About half of the buyers from Hong Kong are aiming to obtain permanent residency under Lisbon’s golden visa programme, according to property agents
Hong Kong is tipped to become one of the top sources of foreign investment in Portuguese property as residents seek a European haven from the violent protests that have consistently reduced their city to something resembling a war zone.
An increase in demand from Hongkongers has prompted property agents from Lisbon, the Portuguese capital, to travel to the troubled city to meet clients and make a sales pitch to them.
About half of the buyers from Hong Kong are aiming to obtain permanent residency under Lisbon’s golden visa programme, according to property agents.
“I believe the current protests have created a strong interest in property markets in Europe,” said Luiz Felipe Maia, director at Maia International, a property agent based in Lisbon.
“I also work with properties in Spain, France and London, however the focus for foreign investors is Portugal where yields for rental run between 4 and 7 per cent.”