Why invest in the Azores for the Portuguese Golden Visa in 2022?
Published at: 08/03/2022 10:55 am
After investing in the Azores, do you want an EU residency permit later Portuguese citizenship? Let's see the details!
With the same investment, you can buy more in the Azores than in Lisbon. The prices of real estate (and cost of living) skyrocketed in Lisbon, Porto, and Algarve, the traditional investors' centres for the Portuguese Golden Visa program (ARI).
Take a look at the most critical indicator for you: the price per square meter to buy an apartment in the city centre is 46 % cheaper in the Azores, according to Numbeo.com. Moreover, purchase real estate on the beach is 46% more affordable than beach properties close to Lisbon. And the real estate investment option is the most popular among the applicants for the Portuguese residency by investing program.
The entire Azores (and Madeira island) are high-density regions, so the €350,000 discount is not applicable when buying real estate. It means that you will need at least €500,000 to purchase a residential or commercial property!
What is the difference between the cost of renting in Azores and Lisbon?
In 2022, the average renting cost of a three-bedroom apartment in Lisbon was €1,664; meanwhile, in the Azores (Ponta Delgada), it is only €800. But these data apply only for long term rental. If you use your real estate to rent through Airbnb or other modern tools, short-term rental costs are almost the same. Summarising: you can get the same profit from the rental activity for half price.
Is the Azores a popular place?
Oh yes, of course. It is not only a beautiful archipelago but as it is in the middle between Europe and North America, What is the difference between the cost of renting in Azores and Lisbon?
Moreover, as the Azores archipelago is in the middle of the ocean between Europe and North America, it became a natural transfer location for hundreds of flights daily. As its weather resembles the eternal spring, thousands of tourists visit it for the beautiful view. And then they spend their time visiting and watching the unusual and rare plants and the unlimited number of whales, dolphins and other creatures of the ocean.
Suppose you are interested in becoming a resident, later citizen of the European Union through the Portuguese Golden Visa, from January. In that case, you must investigate the investment options of the Azores and Madeira. Please look at our detailed guide to the Portuguese ARI residency by investment program here!