Thursday, June 8, 2023

Bloomberg resports Americans Are Leaving Portugal as Golden Visa Honeymoon Ends. Is it true? what are the reasons?

 Yes, it is true that some Americans are leaving Portugal. The reasons for this are varied, but some of the most common include:

  • Rising housing costs: Portugal's real estate market has been on the rise in recent years, and this has made it more difficult for some expats to afford to live there.

  • Bureaucratic hurdles: Some expats have found the Portuguese bureaucracy to be difficult to navigate, which has made it challenging to get things done.

  • Language barriers: Portugal is a Portuguese-speaking country, and this can be a challenge for expats who do not speak the language.

  • Lack of community: Some expats have found it difficult to make friends and build a community in Portugal.

The Golden Visa program, which allowed foreigners to obtain Portuguese residency by investing in real estate, was also a major draw for Americans. However, this program was suspended in February 2023, which has also contributed to the decline in the number of American expats in Portugal.

Despite these challenges, Portugal remains a popular destination for American expats. The country offers a high quality of life, a low cost of living, and a warm climate. However, it is important to be aware of the potential challenges before making the move to Portugal.

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