The new project is part of the renovation program. Portugal will renovate 89 apartments of the residential complex, which is located 200 meters from the Atlantic Ocean. Near the complex, there are six picturesque beaches and 30 golf clubs, open restaurants, fitness centers, and stores.
Sales will start June 1, 2021. But you can book the property even today: studios or apartments with two bedrooms.
The complex will have a swimming pool, a gym, and a terrace on the roof of the building. If you invest in a two-bedroom apartment, you can buy a furniture package for €12,000 and a parking space for €20,000.
Property options in the new residential complex
|Criteria||Studio||Two Bedroom Apartments|
|Square||From 47 to 54 m²||From 81 to 113 m²|
|Cost of service||From €150||From €220|
This is what the Sagres apartment complex will look like after the renovation
The apartments will have a view of the Atlantic Ocean or the inner garden with a swimming pool
Residents will be able to exercise for free in the gym of the complex
In order to obtain a residence permit in Portugal, investors buy any property worth €500,000 or a building over 30 years old under renovation for a value of €350,000 or more.
From July 1, 2021, the conditions of the program will change. Investors are more likely to choose real estate in Lisbon, Porto, and resort towns. From 2022, buy housing will be allowed only in the Azores, Madeira, and inland regions. The minimum investment amount will increase on four of the eight options.
The new project is located in the resort city, but it is one of the two areas where the current conditions of the program remain. The price to buy the property will remain the same while construction is in progress.
What an investor will get by investing money in a new residential complex
Residence status in Portugal. The property of the new residential complex is suitable for participation in the residence permit program in Portugal by investment.
Together with the investor, his family can obtain a residence permit status. Residents can study, work and open a business. Portugal has a strong economy and a high standard of living. After 5 years, the investor and his family are entitled to apply for citizenship.
Free travel to the Schengen countries. A residence permit in Portugal allows you to visit Schengen states without a visa. Investors have the right to stay there for 90 days out of 180.
Optimization of taxation. A new resident of Portugal can receive a special tax status of Non-habitual resident and tax holidays for 10 years.
Why investors buy real estate in Portugal
Buying real estate is the most popular option among investors over the life of the program. 91% of investors bought real estate in 2020 to obtain a residence permit in Portugal.
Portuguese real estate is a liquid asset. Property prices in the country are constantly rising. According to analysts PwC, prices are rising at an average of 7% a year. In 5 years, investors will be able to sell real estate profitably and return the money invested.
Income from renting a property in Portugal is 2-5% per annum. In the high season, the income can increase up to 9% per annum. In a new property in Sagres, the income is fixed and is 3% per annum.
Immigrant Invest is a licensed agent of the residence permit program in Portugal. If you want to buy real estate, move to Portugal and travel to Schengen countries without visas, seek advice from experts in investment programs.