South Africans are buying property offshore and Lisbon is one of the most popular spots

Wed 6 Nov 2019

Pam Golding International says that increased demand for international property by South African buyers is being fuelled by a desire to diversify investment portfolios with a rand hedge.

The need to diversify, coupled with demand for offshore citizenship, has seen increased uptake by buyers investing in residential Portugal property via the Golden Visa Programme as well as a surge in interest in the US EB-5 Programme for access to a Green Card and the Grenada Citizenship-by-investment programme, it said.

Notwithstanding this, property in Mauritius and the UK remain firm favourites with SA investors, Pam Golding said.

“It’s not surprising that Lisbon Real Estate features strongly on the radar of such investors, as according to the Emerging Trends in Europe 2019 report, it is currently the top-rated city in Europe for overall investment and development prospects in 2019, having leapfrogged 10 places to number one", the estate agency group said.

“In Portugal buyers invest mainly for EU Residency, while in Mauritius – which has retained its pole position as first on the African continent in The World Bank ‘Doing Business 2020 report, it’s a combination of residency and leisure or second home acquisitions.”

In the UK it is purely for investment in hard currency, a hedge against political instability and diversification, Pam Golding said.

In Portugal, the €350,000 Golden Visa developments in Lisbon, Porto and Cascais remain the most popular, the group said.

Read the original article here.

Photo by Alex Paganelli on Unsplash

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