No More Golden Visa In Portugal (+ AirBNBs & more...) (Copy)
The Portuguese government recently unveiled POSSIBLE new measures to combat the country's housing crisis and high cost of living. The changes include ending the controversial golden visa program, which some argue has driven up housing prices. The government is also considering a ban on short-term rentals such as AirBNBs, which have further contributed to the housing shortage. To incentivize landlords to rent to locals, the government is offering tax breaks to those who convert their properties into long-term rentals.
While not everyone may support these measures, they could be interesting and potentially crucial steps toward addressing Portugal's housing crisis and making affordable housing more accessible to locals. By discontinuing the golden visa program, the government hopes to reduce housing prices and improve the quality of life for Portuguese residents. The proposed ban on short-term rentals aims to boost the supply of available housing, potentially leading to lower prices. The tax incentives that could come for landlords who convert their properties from short-term to long-term rentals could make it more appealing to rent to locals in need of affordable housing.
For current and prospective expats, these changes could significantly impact decisions regarding living in Portugal. As the country works to address the housing crisis. Finding affordable housing in Portugal may become easier. However, some have criticized the tax incentives, arguing that they may benefit landlords who have already profited from the housing market. It is essential to monitor developments to make informed decisions about living in Portugal.
Overall, the Portuguese government's new measures might prove to be a step in the right direction toward addressing the housing crisis. While it remains to be seen how effective they will be, the government seems to be taking the issue seriously by looking at implementing measures to tackle it. If you're an American or expat in Portugal, or if you're considering moving abroad, keeping up with these developments could help you make informed decisions about your future in the country.