The Wall Street Journal stated in April of last year that Americans are retiring to Portugal "in droves," attracted by "a low cost of living, healthcare, a sunny climate, and tax incentives."
Widely-cited data from Portugal’s SEF Borders and Immigration Service appears to confirm this. According to SEF figures, the number of US residents in this country is presently the highest in more than a decade, with the US overtaking China in the first half of 2022 as a top source of applicants for Portugal’s Golden Visa – one of the most popular residency-by-investment programmes in the world.
And it is likely in no small part thanks to Portugal’s appealing Golden Visa programme, the recent strengthening of the dollar (in 2022 the US dollar reportedly strengthened against nearly every other major currency), an eye-catching destination brand marketing campaign and an ever-growing number of direct flights between Portugal and North America, that the pull between the two is only expected to strengthen.
Ana Damásio, Director of Real Estate Sales & Marketing at the Wyndham Grand Algarve, says that certainly seems to be the case there. She explains that, if in 2020, North Americans accounted for 15% of sales of the brand’s premier apartment-style residences, that number is on track to at least double by the end of this year.
More supporting evidence, she says, is that one-third of attendees enrolled in an upcoming Wyndham Grand Algarve ‘Moving to Portugal’ webinar are from the US and Canada. The hotel itself has also seen a growing number of North American guests.
Located in the Algarve’s prestigious Quinta do Lago neighbourhood, less than 25 minutes from Faro International Airport, the Wyndham Grand Algarve residences comprise 132 one and two-bedroom apartments and three-bedroom penthouses. All are fully equipped and furnished to Wyndham’s highest standards. They offer a ready-to-go solution for investors looking to take advantage of Portugal’s sun-kissed lifestyle, combining a five-star concierge service with all the modern conveniences expected of high-end contemporary living.
The residences offer competitive Return on Investment options as well as being Golden Visa-eligible. Prices start from €550,000.
For more information, see website: wyndhamgrandalgarveresidences.com, e-mail email@example.com, or call (+351) 289 000 300.
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