Madeira to benefit from Golden Visas

Madeira to benefit from Lisbon and Porto “overheating”

The Diario reports again from the same conference as the economist quoted in the previous post as saying that the introduction of a tourist tax was inevitable in Madeira. This time Eduardo Garcia e Costa, executive director of the real-estate company KW Portugal, speaking yesterday afternoon at the Annual Tourism Conference offered the opinion that the real estate market in Lisbon and Porto is suffering from “overheating”, with prices rising and Portuguese residents being forced from the centres of these cities.

Asked by one of the moderators of the conference, José Bizarro, on the assumption that the Government of the Republic will limit or cut tax advantages for real estate investment in Lisbon and Porto, Eduardo Garcia e Costa admitted that “someone will have to take advantage of these Gold Visa opportunities (offered to wealthy foreign residents)” and that “Madeira and the Algarve can position themselves for such customers”.

3 thoughts on “Madeira to benefit from Golden Visas”

  1. Thats a great idea,

    Replicate what has happened in London and have wealthy foreign investors launder their money into property in stable western economies
    Who cares whether local residents who actually LIVE and work in said areas are pushed out right?

    Why should anyone give a damn how dark central London gets at night due to all those foreign buyers? Let those long standing businesses and social goings on fall to the wayside I say!

    What we need to do is listen to all these property companies and help them make extortionate amounts of money at the cost of the plebs
    We also need to welcome those 60 million Chinese buyers chomping at the bit and help them launder their socialist loot

    Golden Visas? This is not Willy Wonka…..

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