Portugal’s famous Golden Visa’s most preferred option is to invest in abandoned or old real estates in Lisbon or Porto. The investors then refurbish the homes and move in or rent those. The squad-meter costs in Portugal are rising very fast. In 2018, the rate was +17% year on year, and now you can buy a squad-meter in Lisbon’s centre for € 4,263.
Greece still offers the most profitable real estate investments. During and after the financial crises, between 2008-2017, the average property list 42,3% of its value. However, the market wakes up quickly, and in 2019 the real estate prices rose by 4%. It’s clear that beautiful summer homes on the exotic Greek islands will sell well. But there is a secret hint: try to look for winter holiday homes! This segment is developing faster than the seaside property market. Only in 2019, the home sales prices increased by eight per cent on average. Prime winter locations as Arachova near Delphi enjoyed a rise of 9,5%! Greece also plans to launch a citizenship by investment program and compared to the similar schemes of Cyprus and Malta, the Greek property market has more to offer.
Cyprus’ real estate market also suffered high losses during the crisis; the prices constantly fall for eight years. However, 2019 changed the market. Wealthy foreigners can invest in exchange for a residency permit or even citizenship. However, the applicants for citizenship faced the recent strengthening of criteria on the CIP (citizenship by investment program). During the last two quarters of the year, their hunger for investing in Cyprus significantly decreased. Luckily, the ESRB (European Systematic Risk Board) assessed that the probability of risks on the Cypriot market is limited.
In Malta, the average squad-meter price reached the €4576 limit in 2019, according to the Statista. The government plans to cool down the overheated housing market. According to the Maltese budget 2020, the stamp-duty exemption is essential to mention. On the other hand, all contenders in the race for the Maltese Prime Minister post announced that they plan to change the citizenship by investment program, and it will naturally affect the high-end real estate market.
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