Demand for neighboring countries is absolutely surged when Spain is set to Wolop Britt, who buys a house there with a 100% property tax.
Organizations moving to Portuguese shows and seminars are interested in jumping to a third in six months.
It appears that Spain, a long-loved holiday destination for Britons, will crack down on tourism following a wave of protests in various cities.
The country's socialist prime minister, Pedro Sanchez, has since sought various measures to limit the impact on the housing market.
He announced plans to limit home purchases by non-resident British people in January, suggesting a new tax burden for second-storagers with up to 100% of the value of their property.
Now in a press release, the Portuguese Chamber of Commerce in the UK is holding a free event. Algarve.
Christina Hippisley, general manager of the association, said:
“The interest in opportunities for Portuguese entrepreneurs is also very strong right now, and the Portuguese government is keen to attract talented and creative businessmen,” she added.
Pre-event registration for the tournament to be held in London on April 3, 2025 was up 33% compared to the October 2024 show and 195% compared to the March 2024 show.
The shows and seminars cover domestic relocation, property, investment, and visa and residency options, taxation, healthcare, schooling and more.
According to the Portuguese Real Estate Professionals and Business Association, foreign buyers accounted for around 12% of sales volume in 2024, with an average annual price growth rate of 8% between 2019 and 2024.
Currently, more than 47,000 British citizens live in the country, with the foreign population growing by 37% between 2011 and 2021.
The release of the Chamber of Commerce speculates that the rise in interest in Portugal is because the country's relative stability appears to be more attractive when compared to Spain's uncertainty.
Twenty-five years ago, the Spanish government welcomed British property buyers, believed foreign investment was economically beneficial, bringing investments into popular tourist hubs like Malaga and the Balearic Islands.
However, in recent months, there have been fierce anti-tourism protests in Barcelona, Madrid and Malaga, and locals have denounced what they see as allowed on the stage of holiday property and living prices. .
As of December 2, 2024, new strict rules for tourists have also been enacted, and the Spanish government is now stating that hotels will collect a wide range of personal information from visitors, including family details, bank card details, addresses, and more. I'm requesting it.
Last year, the government would remove the country's famous Golden Visa scheme, which would normally provide non-EU citizens' residence rights in exchange for an investment of £420,000 in property and remain planned to close on April 3. It has been decided.
