Asian interest in Portugal property

By Andrew Batt: The introduction of a 'golden visa' with Portuguese property purchases of €500,000 has been attracting interest from Asian buyers and investors.

The scheme permits visas to be granted to any non-European Union citizen who invests minimum capital of at least €1 million, creates a minimum of 30 jobs or purchases real estate worth a minimum of €500,000.

Experts anticipate that this adjustment in legislation will cause an influx of Asian investors, a prediction reinforced by the delivery of the first golden visa to Muthu Nefamanimaran, an entrepreneur from India who has invested in three hotels in Albufeira and created more than 600 jobs in the process. He explained that Asian investors feel Portugal is a safe place to invest.

Pine Cliffs Resort (pictured), a luxury gated development on the Algarve Coast owned by United Investment Portugal, (UIP), is already receiving numerous enquiries from Chinese investors, many of whom are moving forward with the acquisition process.

Carlos Leal, General Manager of UIP, said: "We anticipated that the golden visa would boost investments made by non-EU citizens, and this is already evident from the increasing amount of enquiries we have received."

"We also have a number of investors from Beijing, Hong Kong and mainland China who have arranged to visit our beautiful and magnificent resort and expect this to increase further over the coming months."

Pine Cliffs Resort is a luxury destination offering lifestyle, leisure and investment opportunities, and is situated on the Algarve Coast. The resort has won more than 30 awards for its exceptional hospitality, along with its excellent beach, hotel and leisure facilities. Nestled at the heart of the 72-acre development is the Sheraton Algarve hotel and Pine Cliffs Residence which is managed by The Luxury Collection - one of the world's leading hotel groups.

Prices range from €725,000 for Residence Apartments up to to €1.65 million for Terraces. Private gated villas are priced at €4.5 million. Fractional and holiday ownership options are also proving to be popular. Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg Related Stories:  Iskandar to get six more theme parks

Renewed interest in France homes

Ascott launches Citadines Suites Louvre Paris

More from PropertyGuru:
Iskandar to get six more theme parks
Renewed interest in France homes
Ascott launches Citadines Suites Louvre Paris
$30m for penthouse in former box factory

  • Volkswagen brings new (ish) Jetta to New York along with Golf Sportwagen 30 minutes ago
    Volkswagen brings new (ish) Jetta to New York along with Golf Sportwagen

    With its new President and CEO of America, Michael Horn, on stage in New York after just 100 days on the job, Volkswagen debuted its 2015 Jetta. You'd be forgiven for noticing little differences compared to the outgoing model, and in the words of Horn himself, the changes are indeed subtle. The most notable of those subtleties is the all-new 2.0 liter turbo diesel motor, offering 45 mpg highway and a modest increase of 10 hp. For VW, diesel is where it's at.

  • With Vantage GT, Aston Martin races below $100,000 1 hour 8 minutes ago
    With Vantage GT, Aston Martin races below $100,000

    Aston Martin is going downmarket, sort of. The 2015 Vantage GT, a sport-styled variant of Aston’s legendary flagship car, draws style and performance tips from their GT4 race cars, which will be running in North America this year. It’s also priced at $99,900, which shows that the market for these kinds of consumer sports cars has boomed in recent years.

  • Ford plants a new Mustang on the Empire State Building in style 3 hours ago
    Ford plants a new Mustang on the Empire State Building in style

    Fifty years ago this week, Ford made history by staging the greatest car launch in history — building up the drama around its new Mustang with stunts like papering over dealership windows and landing on the covers of both Time and Newsweek magazine. To celebrate its anniversary, Ford re-created a stunt it last pulled off in 1965 — landing a new Mustang on the 86th floor of the Empire State Building.