Property investment opportunities from Spain and Portugal were attracting the attention of Singapore property buyers at a series of events which took place last week.
More than 120 guests were treated to an evening of investment insight, flamenco dancing, as well as Portuguese and Spanish wine and tapas at the event, where Singapore real estate agency Premiere Realty and Panashco Singapore presented an analysis of the trends shaping property investment in the two European countries.
The event also covered an overview of requirements for the ’Golden Visas’ from both countries. These visas allow property investors who spend more than EUR500,000 on property investments to acquire long-term residency, as well as the chance of getting a passport after a specific period of time – which is six years in Portugal and 10 years in Spain. Applicants to the Golden Visa programme can also enjoy unrestricted travel to Schengen countries within the European Union.
Premiere Realty’s overseas property consultant Florence Ang told PropertyGuru that the opportunity for overseas property investors in Singapore is to find a well-priced property in Europe and take advantage of the strong Singapore currency.
She said: “We want to introduce premium properties that are less affected by the price pressure from oversupply, as these are definitely the type of properties that will have resistance against market conditions, and are truly attractive assets for owners to purchase.”
On Saturday, Premiere Realty also held its first public seminar featuring Portugal properties, and presented Lisbon 8 Building (pictured) located in the centre of the Portuguese city.
With average property prices in Lisbon starting from EUR2,200 per sqm, the apartments in Lisbon 8 Building are marketed at a premium of EUR3,750 to EUR6,000 per sqm because of its central location in the city centre, and because these luxury apartments come fully furnished and offer views of the Tagus River.
Despite Portugal being new to Singapore investors, there have been very positive interest expressed by buyers looking for trophy properties they know will have a secondary market.
Ang added: “Similar to Singapore’s Fullerton Hotel, Lisbon 8 Building was the former headquarters of Portugal’s General Post Office. The Lisbon 8 Building is truly a “one-of-a-kind” asset, and our clients are excited at the chance to own an apartment in a building of historical value.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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