Gary Hersham’s super-prime estate agency has made its fourth major international expansion move this year, rolling into the Portuguese market with Tamea International.
Beauchamp, which was set up by Gary Hersham in Mayfair 40 years ago, has been on something of an international expansion drive since Jeremy Gee joined as Managing Director last year. This is the agency’s fourth major international expansion activity in 2020.
The firm has established outposts in Israel, set up two operations in the South of France, and has fingers in the Mykonos and New York property markets. Hersham recently told PrimeResi that he has also “always desired a USA West Cost office, and a partner in South America and Asia.”
The move into Portugal aims to capitalise on the country’s Golden Visa program, which started in 2012 and has led to ultra-high-net-worth individuals investing more than £3.4bn (€3.7bn) in Portugal’s real estate market. Individuals can bag Portuguese EU citizenship for £454,000 (€500,000) – which can be invested in real estate – alongside seven days of stay in Portugal per year.
Gary Hersham, Founding Director of Beauchamp Estates: “We are delighted to be working with Tariq El-Asad and the team at Tamea International. Our agreement will allow us to have a local office partner to share with clients from across the Beauchamp Estates network, introducing them to the benefits that Portugal offers as an investment opportunity and lifestyle destination.
“More and more individuals and organisations are choosing Portugal as a destination, whether to relocate or to invest, not solely for the attractive Golden Visa route to citizenship, but the lifestyle and its strategic geographical location.
Changes to the Golden Visa programme restricting real estate investment to inland municipalities, Madeira and the Azores that were due to come into effect in 2021 have now been suspended and are not currently seen as a priority at this time by the Portuguese authorities.”
Tariq El- Asad, Founding Director of Tamea International: “We are excited to be working with Beauchamp Estates, who share our values and passion for exceptional client service. We are passionate about property and about Portugal, so we enjoy what we do. The partnership will give us access to Beauchamp Estates multi-national office network and through our team, in Lisbon, we will offer our partner’s clients an efficient turn-key service to ensure that the experience of investing in Portuguese real estate is straightforward and efficient. Tamea International has access to some of the finest properties in Lisbon and countrywide, from the Algarve to Porto; and through our network of partners and professionals, we can ensure the process is seamless.
“Portugal has had a meteoric rise to global prominence in the last five and has developed high-quality real estate product and service offerings to meet the heightened levels of expectation both from domestic and international clients. This is something that we believe is set to continue.”
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