Rents in Lisbon, a tourist hotspot, have jumped 65% since 2015 and sale prices have sky-rocketed 137% in that period, figures from Confidencial Imobiliario, which collects data on housing, show. Rents increased 37% last year alone, more than in Barcelona or Paris, according to another real estate data company, Casafari.
If you have any kind of concerns relating to where and the best ways to use mercan Grooup, you could contact us at the web-site. "With my salary, which is higher than the average salary in Lisbon, I cannot afford renting a flat because it's too expensive," said Nuncio Renzi, a sales executive from Italy living in the capital. ($1 = 0.9226 euros) (Reporting by Miguel Pereira and Pedro Nunes Writing by Catarina Demony Editing by Frances Kerry)
MADRID, May 8 (Reuters) - Spain could pull the plug on its so-called "golden visa" scheme that grants residency rights to foreigners who invest in real estate in the country, according to the leader of a left-wing party negotiating the issue with the government.
Iñigo Errejon told reporters on Monday his Mas Pais party had reached a preliminary agreement with the Social Security Ministry to put an end to the programme, which allows buyers of property worth at least 500,000 euros ($551,650) and their families to get three-year residency permits.
The Socialist government announced last month a housing package that, among other measures, ended the controversial "Golden Visa" scheme and banned new licenses for Airbnb properties but critics say it is not enough to lower prices in the short term.
Britain scrapped golden visas in February following the Russian invasion of Ukraine amid concerns about the inflow of illicit Russian money. Portugal suspended golden visas for Russians, but 431 had already benefited from the scheme since the time of its launch, according to SEF. ($1 = 0.9497 euros) (Reporting by Catarina Demony; Editing by Crispian Balmer)
The European Commission has urged EU countries to end programmes allowing investors to obtain citizenship and tighten checks when issuing residency permits, describing them as a security and money laundering risk.
Portugal is one of Western Europe's poorest countries, with government data showing more than 50% of workers earned less than 1,000 euros ($1,084) per month last year. The monthly minimum wage is 760 euros.
Vasco Silva, the CEO of Kleya, which helps foreigners move to Portugal, said his company had received many queries about what was going on, adding that some investors had rushed their decision just incase the programme was altered or binned.
The Portuguese branch of anti-corruption group Transparency International (TI) has said the programme could be used for money laundering, while the European Commission has said it considers such schemes a potential security risk.
Low wages and high rents make Lisbon the world's third-least viable city to live in, according to a study by insurance brokers CIA Landlords. Portugal's current 8.2% inflation rate has exacerbated the problem.
LISBON, April 1 (Reuters) - Thousands of people took to the streets of Lisbon and other cities across Portugal on Saturday in protest against soaring rents and house prices at a time when high inflation is making it even tougher for people to make ends meet.
The ministry would not confirm any plan to terminate the programme. An official familiar with the talks said no agreement had yet been reached as the ministry was still studying proposals made by political parties.
To apply, non-EU nationals must make a significant investment in Portugal, such as buying real estate. They are then given residency rights and are allowed visa-free travel throughout Europe's Schengen area.
"We are not allowing entrance to criminals or money for which we do not know the source," Silva said. "Exceptions can happen but it will be one in 10,000 or two in 10,000 and of course those are the ones that go public."
LISBON, Dec 11 (Reuters) - Investments through Portugal's "golden visa", which gives wealthy foreigners residence rights, jumped nearly 50% last month, data showed on Sunday, as the government considers whether to scrap the controversial scheme.
If you have any kind of concerns relating to where and the best ways to use mercan Grooup, you could contact us at the web-site. "With my salary, which is higher than the average salary in Lisbon, I cannot afford renting a flat because it's too expensive," said Nuncio Renzi, a sales executive from Italy living in the capital. ($1 = 0.9226 euros) (Reporting by Miguel Pereira and Pedro Nunes Writing by Catarina Demony Editing by Frances Kerry)MADRID, May 8 (Reuters) - Spain could pull the plug on its so-called "golden visa" scheme that grants residency rights to foreigners who invest in real estate in the country, according to the leader of a left-wing party negotiating the issue with the government.
Iñigo Errejon told reporters on Monday his Mas Pais party had reached a preliminary agreement with the Social Security Ministry to put an end to the programme, which allows buyers of property worth at least 500,000 euros ($551,650) and their families to get three-year residency permits.
The Socialist government announced last month a housing package that, among other measures, ended the controversial "Golden Visa" scheme and banned new licenses for Airbnb properties but critics say it is not enough to lower prices in the short term.
Britain scrapped golden visas in February following the Russian invasion of Ukraine amid concerns about the inflow of illicit Russian money. Portugal suspended golden visas for Russians, but 431 had already benefited from the scheme since the time of its launch, according to SEF. ($1 = 0.9497 euros) (Reporting by Catarina Demony; Editing by Crispian Balmer)
The European Commission has urged EU countries to end programmes allowing investors to obtain citizenship and tighten checks when issuing residency permits, describing them as a security and money laundering risk.
Portugal is one of Western Europe's poorest countries, with government data showing more than 50% of workers earned less than 1,000 euros ($1,084) per month last year. The monthly minimum wage is 760 euros.
Vasco Silva, the CEO of Kleya, which helps foreigners move to Portugal, said his company had received many queries about what was going on, adding that some investors had rushed their decision just incase the programme was altered or binned.
The Portuguese branch of anti-corruption group Transparency International (TI) has said the programme could be used for money laundering, while the European Commission has said it considers such schemes a potential security risk.
Low wages and high rents make Lisbon the world's third-least viable city to live in, according to a study by insurance brokers CIA Landlords. Portugal's current 8.2% inflation rate has exacerbated the problem.
LISBON, April 1 (Reuters) - Thousands of people took to the streets of Lisbon and other cities across Portugal on Saturday in protest against soaring rents and house prices at a time when high inflation is making it even tougher for people to make ends meet.
The ministry would not confirm any plan to terminate the programme. An official familiar with the talks said no agreement had yet been reached as the ministry was still studying proposals made by political parties.
To apply, non-EU nationals must make a significant investment in Portugal, such as buying real estate. They are then given residency rights and are allowed visa-free travel throughout Europe's Schengen area.
"We are not allowing entrance to criminals or money for which we do not know the source," Silva said. "Exceptions can happen but it will be one in 10,000 or two in 10,000 and of course those are the ones that go public."
LISBON, Dec 11 (Reuters) - Investments through Portugal's "golden visa", which gives wealthy foreigners residence rights, jumped nearly 50% last month, data showed on Sunday, as the government considers whether to scrap the controversial scheme.
