<p>2022 was a record-breaking year for Prime
Central London (PCL). Buyers spent almost &pound;5.2
billion on homes last year, 9% higher than in
2021, already a strong year, and the highest
amount spent for more than ten years. Even in
2014, when sales reached &pound;4.94 billion, 5% less
was spent than in 2022.</p><p><a href="https://res.cloudinary.com/drt5ol8ck/image/upload/v1673866400/videos/APAC%20Articles/JLL_PCL_Report_Q4_2022.pdf" target="_blank">Download report </a></p>

Prime Central London Report - Q4 2022

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<p>&nbsp;</p>
<p><strong>The JLL Big Six Residential Report compares activity, prices, and rents across six UK cities outside London: Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester. This report incorporates data from the JLL UK Cities index, comparing changes in prices and rents across mainstream and prime developments in each city. </strong></p>
<p>In the last ten years UK cities have recorded some of the highest increases in new residents. Figures from the 2021 census show that across England &amp; Wales more than 33.6 million people, over 56% of the population, lived in cities, 2 million more
    than in 2011. </p>
<p>With the pandemic accelerating the adoption of hybrid working some questioned the future of urban living. But the influx of new residents heading for our regional cities proves there is more to city living than just the attraction of a short commute.
</p>
<p>Demand for homes has risen across our Big Six cities this year. Back in 2020 and early 2021 we saw an acceleration in the number of households looking to leave urban areas and escape to the country. Yet 2022 has firmly signalled the return to the city.
    Students and young professionals are returning in their droves. Rents have risen this year across all our Big Six cities and the new homes market, both build-to-sell and build-to-rent has seen activity increase too. </p>
<p>Help to Buy has been a key source of demand for city centre new build over the last ten years. Across the four English cities, over 13,200 equity loans have been issued on Help to Buy homes since the beginning of the scheme. &nbsp;But with 31 October
    marking the end of Help to Buy registrations nationally we were already anticipating interest from first-time buyers would fall in 2023. Combine this with recent rate rises and we expect the number of first-time buyers could fall further.&nbsp;But
    with fewer households buying homes we anticipate demand for rental properties will increase. </p>
<p>Almost 100,000 homes have been completed in the city centres of the Big Six in the last ten years. </p>
<p>Demand for homes has meant prices achieved in the last three years have risen by an average of 14.6%. The JLL Cities index, which values new flats in each city shows prices have risen by between 4.9% and 17.6%. </p>
<p>Demand for rental properties has increased too. With rents rising by an average of 15.4% across the Big Six. Leeds recorded the highest annual increase in rents, with scarcity of stock pushing average rents for new homes in the city up by more than 20%
    in summer 2022 compared with the same period a year earlier.</p>
<p>&nbsp;</p>
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Big Six Residential Development Report

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The JLL Big Six Residential Report compares activity, prices, and rents across six UK cities outside London: Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

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<p>&nbsp;</p>
<p>The last 15 years have seen UK house prices reach new highs on the back of a period of record low borrowing costs. Never prior to 2008 had the UK base interest rate dipped below 2%. But in the period since the Global Financial Crisis (GFC) it has averaged
    0.5% and hit a low of 0.1% during Covid.</p>
<h2><strong>Interest Rates</strong></h2><iframe src="https://flo.uri.sh/visualisation/11644913/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<p><br />A spike in borrowing costs &ndash; and an anticipated further steep rise in mortgage rates - alongside continued high inflation and a rising cost-of-living have prompted predictions from the most bearish forecasters of 20%-30% falls in UK house
    prices. </p>
<p>But UK house prices have never fallen by more than 20%. And this prompts a question of whether the underlying market prospects are now truly worse than the early 90s recession where house prices fell 20% cumulatively between 1989 and 1993; and the GFC
    where prices fell by 15% between January 2008 and May 2009.&nbsp;&nbsp;</p>
<p>&nbsp;</p>
<h2><strong>House price crashes have been rare in the UK</strong></h2><iframe src="https://flo.uri.sh/visualisation/11645505/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<p>In the early 90s, inflation was high (like today) and GDP was low and falling into negative territory (like today). But, a key differentiator was that unemployment was extremely high at circa 10% in the early 1990s &ndash; today it is at a record low
    of 3.5%. And while unemployment is expected to rise in the coming 18 months, it is expected to hit 4.9%, below the average of 6.7% since 1971 and the past 10-year average of circa 5.2%.&nbsp;</p>
<p>Meanwhile, the GFC was fundamentally a credit crisis built on poor lending practices through the early 2000s which saw people with poor credit history and no equity lent sums of money they could ill-afford to repay. Ultimately the &lsquo;house of cards&rsquo;
    collapsed, banks failed, millions lost their jobs and people were forced to walk away from mortgages they could never afford in the first place.</p>
<p>In the period since, lending practices have been tightened significantly &ndash; and the housing market is now built upon much stronger foundations.</p>
<h2><strong>Absence of distress</strong></h2>
<p>JLL analysis of the Bank of England Mortgage and Lending Report found that 62% of the UK&rsquo;s 8.4m mortgaged owner occupier households have at least 25% equity in their house. Another 34% have between 10-25% equity and 4% have between 5% and 10% equity.</p>
<p>Just 0.2% or circa 17,000 owner occupied households in the UK have less than 5% equity &ndash; and, statistically at least, there are no households with zero equity. Meanwhile, more than 95% of the circa 3m UK buy to let landlords who own with a mortgage,
    own at least 20% in their property.</p>
<h2><strong>Mortgage affordability</strong></h2>
<p>But ultimately the amount of equity the UK&rsquo;s homeowners possess only tells half of the story. An era of cheap borrowing is ending and mortgage affordability is about to become squeezed. However, mortgaged households in the UK have the highest incomes
    by tenure &ndash; averaging &pound;80,000 per annum. Before the recent rise in UK interest rates, the average household income spent on a UK mortgage was equivalent to 18%. With the average two-year fixed rate mortgage cost having risen to circa 6%,
    that income to mortgage expenditure percentage has risen to circa 27% - the level it was around the time of the Global Financial Crisis. And if mortgage rates hit 7%, the average household income to mortgage cost ratio would hit 30% - the rate it
    was in the early 1990s. But merely spending 30% of a household income on housing costs is not a reason to assume a collapse into distress. With low unemployment and the highest average incomes, the UK&rsquo;s mortgaged households have a more stable
    financial footing than the GFC or the early 1990s recession.</p>
<p>The vast majority should be able to ride out a squeeze on their household incomes avoiding the need to sell their home to make ends meet. But it will be a further extension of the current cost of living crisis.</p>
<p>Circa 1.1m households were on the current Standard Variable Rate coming into this recent rate rise. Another 1.2m households will come to the end of their fixed term over the next year. JLL calculates that those 2.3m households combined will be spending
    an additional &pound;8bn on mortgages by Q4 2023. This could ease some of the current high inflation, but it could also hamper GDP growth. The customers spending that extra on their mortgage would perhaps most likely be transferring that from their
    previous savings/investment allocations or from their typical discretionary spend on food, leisure and entertainment.</p>
<h2><strong>Low repossessions</strong></h2>
<p>Furthermore, banks currently have a low appetite for repossessions. In the early 1990s, banks repossessed circa 100,000 homes per annum. In the GFC the rate was about 50,000 per annum. Currently there are about 4,000 repossessions per annum which out
    of the UK&rsquo;s circa 11m mortgage properties represents a rate of about 0.04% per year. It takes two years to repossess a home &ndash; and in the current cost of living crisis, it could be a difficult public profile position to be seen to be adopting
    a repossession strategy. However, banks are a regulated entity so they cannot turn a blind eye to customer defaults. But there are other options that can be explored such as tracker rates or interest only periods and it is highly likely banks will
    exhaust all these options before pursuing a route of foreclosure.</p>
<h2><strong>Opportunistic buyers</strong></h2>
<p>Ultimately, we expect that there will be far less distress in the market as there was in previous crashes &ndash; as long as there is no sharp rise in unemployment.</p>
<p>But JLL predicts there will be a steep fall in UK housing transactions.</p>
<p>The number of First Time Buyers (FTBs) before the GFC typically totalled 400,000 per annum out of a total of circa 1.5m annual transactions.</p>
<p>Post GFC, FTBs fell to 325,000 and total transactions to 1.2m. JLL predicts there will now be circa 200,000 viable FTBs with sentiment among aspiring homeowners taking a hit, mortgage affordability becoming stretched to new homeowners and the ending of
    help to buy, which typically helped circa 50,000 FTBs onto the ladder per annum. This cocktail of transactional headwinds will see overall transactions fall to circa 1m in 2023.</p>
<p>The transactions that do occur will be dominated by slightly more motivated sellers (but not financially distressed) faced with a higher proportion of &lsquo;opportunistic&rsquo; buyers (such as cash buyers who will account for about 25% of all transactions,
    up from the current 18%). These opportunistic buyers will not expect to pay asking price. But the vendors who are not distressed will only accept a fall in values to a certain level &ndash; ie more of a discount than a fully blown correction and certainly
    not a crash.<strong></strong></p>
<h2><strong>Sluggish market</strong></h2>
<p>This dynamic will create a sluggish market in which buyers and vendors haggle over price and ultimately less transactional activity occurs with the supply of new homes for sale gradually becoming constrained.&nbsp;</p>
<p>Against this backdrop, JLL is forecasting that UK house prices will fall in value in 2023 by 6% which equates to an average discount of &pound;17,500 from the average UK house price of circa &pound;290,000.</p>
<p>Of course, as in any market, there will be winners and losers. Not all types of home, cities or regions will be impacted to same level.</p>
<p>On a regional level JLL&rsquo;s forecasts falls ranging from circa 4% across Greater London to around 8% in Wales, the North East and Yorkshire &amp; the Humber.</p>
<h2><strong>But transactions are forecast to fall sharply with price falls to follow</strong></h2><iframe src="https://flo.uri.sh/story/1729166/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2><strong><br />Falling supply</strong></h2>
<p>However, in many of the housing supply constrained UK city centres, where there is a greater concentration of equity rich buyers, price growth is still expected.</p>
<p>Ultimately new housing supply is expected to fall even further behind target as a result of the tightening market conditions.</p>
<p>JLL forecasts that there will be a national shortfall of 610,000 homes over the next 5 years alone &ndash; up from JLL&rsquo;s previous expectations for an already stark shortfall of 500,000 homes. In London private new home starts are forecast to average
    circa 16,000 per annum &ndash; well below the Greater London Authority target for 52,000 new homes per annum.</p>
<h2><strong>And UK housing supply will continue to fall well short of targets</strong></h2><iframe src="https://flo.uri.sh/story/1729214/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2><strong><br />Rental market</strong></h2>
<p>The current supply demand imbalance across the UK rental market looks set to endure as fewer households move across into owner occupation and demand for rental properties increases further.</p>
<p>We expect that prospective buyers, as well as those who would under normal circumstances have transacted under Help to Buy, will remain in the rental market. This adds further fuel to an already constrained rental market and will, we expect, mean the
    supply demand imbalance and resulting rental growth will continue. Rental growth is expected to be particularly strong at the front end of the five-year period before falling back in line with historic norms of circa 2% - 3% as inflation is brought
    back under control.</p>
<p>The outlook for investors is mixed. Demand for rental properties looks set to continue, and forecasts of rising rents and falling prices suggest we could see a rise in yields across the board. But the cost to service debt will remain a key issue for more
    highly indebted landlords.</p>
<p>The purpose-built UK BTR sector is expected to outperform the wider UK rental market in terms of rental value growth.</p>
<h2><strong>Economic Forecasts</strong></h2><iframe src="https://flo.uri.sh/visualisation/11646570/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:400px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<p><br /><br /></p><iframe src="https://flo.uri.sh/visualisation/11646658/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:250px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2><strong><br />Forecasts</strong></h2>
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            <div style="max-width:540px;">
                <h2><strong>UK House Price Growth (%pa)</strong></h2><img src="https://cms-resi.eu.jll.com/images/default-source/agency/picture3c661fa16-e344-4166-b880-888d9a918512.png?Status=Master&amp;sfvrsn=69cedcd0_1" sf-size="100" alt="" /></div>
            <div style="max-width:540px;">
                <div>
                    <table class="table table-borderless k-table" align="center">
                        <tbody>
                            <tr>
                                <td style="min-width:50px;width:20%;text-align:center;">2023</td>
                                <td style="min-width:50px;width:20%;text-align:center;">2024</td>
                                <td style="min-width:50px;width:20%;text-align:center;">2025</td>
                                <td style="min-width:50px;width:20%;text-align:center;">2026</td>
                                <td style="min-width:50px;width:20%;text-align:center;">2027</td>
                            </tr>
                            <tr>
                                <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">-6</td>
                                <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">1</td>
                                <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">4</td>
                                <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">5</td>
                                <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">5</td>
                            </tr>
                        </tbody>
                    </table>
                    <h2><strong>Cumulative Growth</strong></h2>
                    <p><strong>8.9%</strong></p>
                </div>
            </div>
        </div>
        

        <div class="column-four height-100">
            <div style="max-width:540px;">
                <h2 style="color:black;"><strong>UK Rental Value Growth (%pa)</strong></h2><img src="https://cms-resi.eu.jll.com/images/default-source/agency/picture2a3722ef1-673e-4ce1-bb95-44b6dae7a33a.png?Status=Master&amp;sfvrsn=cdbed46_1" sf-size="100" alt="" /></div>
            <div style="max-width:540px;">
                <table class="table table-borderless k-table" align="center">
                    <tbody>
                        <tr>
                            <td style="min-width:50px;width:20%;text-align:center;">2023</td>
                            <td style="min-width:50px;width:20%;text-align:center;">2024</td>
                            <td style="min-width:50px;width:20%;text-align:center;">2025</td>
                            <td style="min-width:50px;width:20%;text-align:center;">2026</td>
                            <td style="min-width:50px;width:20%;text-align:center;">2027</td>
                        </tr>
                        <tr>
                            <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">4</td>
                            <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">3.5</td>
                            <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
                            <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
                            <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
                        </tr>
                    </tbody>
                </table>
                <h2><strong>Cumulative Growth</strong></h2>
                <p><strong>15.9%</strong></p>
            </div>
        </div>
    </div>
</section>
<p><strong><em><sup><br />Forecast disclaimer -&nbsp;</sup></em></strong><em><sup>Forecasting is a complex task at the best of times, but with so many moving parts making predictions in the past six months has been made all the more difficult. As always, we at JLL will continue to revisit our forecasts on a regular basis.</sup><strong></strong></em></p>
<p><sup>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved. Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</sup></p>

JLL UK House Price Forecasts - Housing set for a correction, not a crash

correction not crash

Housing set for a correction, not a crash

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JLL Residential Research Report | August 2022

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<p><strong>JLL &ndash; Do properties close to Crossrail stations command a premium?</strong></p><p>The Crossrail Bill was introduced to Parliament in February 2005. Three and a half years later, in July 2008, the Bill completed all the Parliamentary stages and received Royal Assent to become the Crossrail Act. Works officially began on the project in 2009 with tunnelling starting in 2012. A decade on, JLL have undertaken new research to assess the impact on property values along the line.</p><p><em>Since 2012:</em></p><ul><li><em>Growth in average prices in areas surrounding 76% of Crossrail stations outperformed the regional average.</em></li><li><em>18 stations have experienced sales price growth of over 70% since 2012.</em></li><li><em>Largest premiums typically found along the Eastern lines.</em></li></ul><p>New research from JLL shows that the price of homes surrounding 76% of Crossrail stations have outperformed the wider market over the period 2012-2021.</p><p>&nbsp;</p><p><img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/graph-image-1.jpg?Status=Master&amp;sfvrsn=1fe25a91_1" sf-size="100" /></p><p>&nbsp;</p><p><img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/cross-rail-body-image.png?Status=Master&amp;sfvrsn=e6b74248_1" sf-size="100" /></p><p><strong>2005 &ndash; 2009</strong></p><p>Between 2005 and 2009, when savvy buyers were hoping to capitalise on lower prices and higher growth, the average increase of property values across all stations was 15%. At the beginning of the project, between 2005 and 2009, 20% of properties along the line saw higher house price growth than the regional average.</p><p><strong>2012 &ndash; 2021</strong></p><p>Between 2012 and 2021, average property values rose 73% in the areas surrounding Crossrail stations; 19 percentage points higher than the growth seen across London over the same period.&nbsp; 84% of stations recorded higher house price growth than the regional average. &nbsp;With work started fuelling confidence in those looking to invest.</p><p>Since 2012, investors have continued to support price growth in these areas. At the top of the list, properties located near Forest Gate have outperformed the regional average (London) over the period 2012-2021, with growth 67 percentage points higher. Properties close to Forest Gate benefit from journey time savings of 11 minutes to Canary Wharf and 16 minutes to Paddington.</p><p>Some of the largest premiums over regional averages are found along the Eastern lines. Despite this, previous JLL research has found time savings are typically the greatest from Slough and the Western section into central London.&nbsp; Over the past decade, house prices in Slough have increased by 25% more than the regional average.</p><p>Rising values have not been restricted to the western and eastern ends of the line though. Bond Street, Paddington, Farringdon and Tottenham Court Road have all seen their average house price more than double since works began in 2009</p><p>&nbsp;</p><p><strong>After over a decade of house prices surges, have house price premiums peaked, or is the best yet to come?</strong></p><p>When large regeneration or infrastructure projects are proposed certain buyers pounce, but others want to see the improvements in place before they commit. The speculators buy in early, purchasing homes in the anticipation that investment will lead to additional growth in house prices. They are likely to have capitalised on lower property values between 2005 and 2009 when the Crossrail bill was accepted and subsequently, when works began.</p><p>Certain occupiers are more likely to wait and be willing to pay a premium, once improvements are in place, or in the case of Crossrail, stations open and trains begin to run. Landlords will be the first to benefit, as improved travel times and increased capacity makes the areas more attractive to prospective tenants.</p><p>Senior Research Analyst at JLL, Meg Eglington says&nbsp;<em>&ldquo;The promise of greater capacity and faster commutes have meant housing markets surrounding Crossrail stations have outperformed since the scheme was announced. But with trains starting to run across the network we could see further growth, now appealing to a new group of investors, homeowners, and tenants, waiting for the project to complete before moving in.&rdquo;</em></p><p><em>&ldquo;As Crossrail nears completion, residential areas at stations along the line have re-emerged on people&rsquo;s radars, shorter commute times meaning areas previously less well connected can now compete with higher value commuter hotpots. Even with people now working more flexibly we expect a comfortable, fast, and reliable commute when they do need to travel, will ensure that property values continue to benefit from the Crossrail &lsquo;effect&rsquo; for years to come&rdquo;.&nbsp;</em></p><p><strong>About JLL</strong></p><h5>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing, building management and sales.</h5><h5>LL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare and student housing.</h5><h5>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</h5><h5>Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</h5><p><img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/2nd-graph---crossrail.png?Status=Master&amp;sfvrsn=312e7f15_1" sf-size="100" /></p>

Crossrail - May 2022

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<div><div id="block-system-main"><article id="node-721" about="/news/2021/12/10/uk-residential-forecast-2022-2026" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1639115417/olmwebcontents/ip/prod/btcfa2vlso31cg2l1sjx.jpg" width="1240" height="1754" alt="" /></div></div></div><div><div><div property="content:encoded"><p><a href="https://internationalresidential.jll.com.sg/download?pdf=720&amp;return_to=news/2021/12/10/uk-residential-forecast-2022-2026" target="_blank">Download Report</a></p><div><br /></div></div></div></div></article></div></div><div>&nbsp;</div>

UK Residential Forecast 2022 – 2026

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<div><div id="block-system-main"><article id="node-714" about="/news/2021/10/21/tokyo-demographic-movement-and-residential-market-report-september-2021" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1634793693/olmwebcontents/ip/prod/xmchscec6zmaqcjwbex6.jpg" width="1240" height="1753" alt="" /></div></div></div><div><div><div property="content:encoded"><p><a href="https://internationalresidential.jll.com.sg/download?pdf=713&amp;return_to=news/2021/10/21/tokyo-demographic-movement-and-residential-market-report-september-2021" target="_blank">Download Report</a></p><div><br /></div></div></div></div></article></div></div><div>&nbsp;</div>

Tokyo Demographic Movement & Residential Market Report – September 2021

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<p><strong>1st&nbsp;Phase of St William&rsquo;s Poplar Riverside launching in Singapore</strong></p><p>St William, part of the Berkeley Group, will be unveiling the first phase of their latest riverside homes in Singapore on the weekend of 21 August 2021. Located on the banks of the River Lea, Poplar Riverside will offer over 2,800 homes, complemented by world-class residents&rsquo; facilities, a beautiful new 2.5 acres park and a host of retail services.</p><p><strong>An Exciting New District</strong></p><p>Poplar Riverside is set to become one of East London&rsquo;s most vibrant neighborhoods. Strategically located between Canary Wharf and Stratford, Poplar Riverside&rsquo;s locale will allow future residents effortless accessibility to an abundance of East London&rsquo;s most exciting social, cultural, and educational offerings.</p><p>Set within Zone 2/3 it is ideally placed for commuting to Canary Wharf or the City. Canary Wharf which holds an enormous collection of shops, bars, and cafes, alongside the United Kingdom&rsquo;s largest inland fish market, Billingsgate Market as well as Canary Wharf the global business headquarters, both just 12 minutes cycle away.</p><p>The development is well connected via various public transport options that includes the East London&rsquo;s DLR, London Underground services, and an extensive bus network. Poplar Riverside is also within 45 minutes by tube to United Kingdom&rsquo;s top 16 universities such as the Queen Mary University of London, University of Greenwich, and King&rsquo;s College. There are also secondary schools, primary schools, and pre-schools within the vicinity, catering to families with children of all ages. Poplar Riverside will even be delivering its own school in later phases.</p><p><strong>A Green Haven</strong></p><p>With over 500m of river frontage and accompanied by a 2.5-acre riverside park, Poplar Riverside offers ever changing views and proximity to nature. With half the park dedicated to open spaces, park users can expect facilities such as playgrounds, lounge areas, and spaces that can be used to host social gatherings. Connecting the park squares and gardens, The Green Link runs the length of Poplar Riverside and features over 6,000 sq ft of plantings and provides a beautiful green frontage for the on-site caf&eacute;s and restaurants.</p><p>Residents are truly spolit with the environment around them as there are countless outdoor activities such as paddle boarding at the Lee Valley Country Park, a boat cruise along the River Lea, cycling through the Hackney Marshes or a tour of the Walthamstow Wetlands.</p><p><strong>A Vibrant Place to Call Home</strong></p><p>Poplar Riverside aims to provide its residents with a healthy balance between work and play. Located in the center of Poplar Riverside, Shelduck Square is a 10,000 sq ft public square for performances, remote working spaces, and outdoor dining.</p><p>The Riverside Club within Poplar Riverside is a 16,000 sq ft space with a mix of premium social and work facilities. Entertainment rooms such as the cinema room and games room provide a space for residents to relax and unwind. With WiFi throughout, facilities like The Workspace, The Great Rooms, and meeting rooms provide conducive workspaces for residents. A 20-meter pool on the first floor includes spectacular pool facilities such as a salt room, experience shower, steam room, and sauna.</p><p>The first phase of Poplar Riverside will launch 643 riverside studios, one, two, and three-room apartments, with a 24-hour concierge to cater to the needs of the residents. All homes will enjoy a balcony, many with beautiful views of the park, city, and river.</p><p><a href="https://internationalresidential.jll.com.sg/poplar-riverside">Join</a>&nbsp;JLL at the Singapore launch of Poplar Riverside at Berkeley&rsquo;s Office in Marina Bay Financial Centre Tower 2. The exhibition will run through 21st to 22nd August 2021 from 11 AM to 6 PM, strictly by appointment only. Virtual and one-to-one appointments are also available for&nbsp;<a href="https://internationalresidential.jll.com.sg/poplar-riverside">booking now</a>!</p>

1st Phase of St William’s Poplar Riverside launching in Singapore

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<p>Despite a turbulent year, the UK property market has performed exceptionally,&nbsp;<a href="https://www.theguardian.com/business/2021/apr/21/uk-property-sales-at-16-year-high-as-house-prices-soar" target="_blank">soaring to a 16 year high for its property prices</a>. As the global outlook improves, foreign investors are looking for their next property investment opportunity.</p><p>Since the Covid-19 Pandemic, most companies have evolved their working model. Tech firms and establishments have relocated from the big cities to promising new estates. Remote work has displaced working in offices. Now, tenants &amp; buyers re-evaluate what they want out of their property - their ideal work-home environment.</p><p>Touted to be the future of smart cities, Reading&rsquo;s a hot commodity to buy a home in the UK.&nbsp; meets the evolving needs of tenants and buyers and is expected to reap handsome returns. Here are 5 Reasons Why Reading Is The Choice Real Estate Investment.</p><h2>1.&nbsp; Fastest Growing Economy in The UK</h2><p>For aspiring startups or angel investors, Reading&rsquo;s the place to be. Second only to London, Reading has the&nbsp;<a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank"><a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank">largest concentration of SMEs and businesses</a></a>&nbsp;(364.6% per 10,000 population).</p><p>Its economic outlook continues to rise with a forecasted 1.1% increment per annum. Reading was rated as the&nbsp;<a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank">2nd best place for work productivity</a>&nbsp;(&pound;83,801 per job) and the 6th highest employment rate in the UK.</p><p>Reading&rsquo;s performance and potential growth has got it the deserving accolade of being the top 10 most attractive European cities for Foreign Direct Investment in the FDI European Cities &amp; Regions of the Future.<br /></p><ul><li>Today, Reading is home to 13 of the world&rsquo;s top 30 brands (including Microsoft, PepsiCo, Cisco, Symantec, Oracle Corporation, Prudential, Verizon, Thales and Bayer). You can expect an increase in property value as more multinational companies move in over the next decade. Invest in UK properties today through the&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/30/may/2021/huntley-wharf-reading" target="_blank">latest Huntley Wharf development</a>.<br /></li></ul><h2>2.&nbsp; New Transport &amp; Infrastructural Developments</h2><p>There&rsquo;s a reason why Reading has the&nbsp;<a href="https://livingreading.co.uk/key-facts" target="_blank">2nd highest housing stock growth in the UK</a>. Thanks to the &pound;900 million investment for the Reading station, you can get to London city within 30 minutes via a direct line, or to Heathrow Airport in under 40 minutes.</p><p>Reading currently holds the title of&nbsp;<a href="https://www.thamesvalley.co.uk/reading-forecast-fastest-growing-city-country/" target="_blank">Fastest Growing City in the UK</a>&nbsp;with newly minted and upcoming business parks. These include:</p><ul><li>Forbury Place - 370,000 sq ft of international HQ space</li><li>Station Hill &ndash; 900,000 sq ft office, residential, and retail</li><li>University of Reading&rsquo;s Science and Innovation Park</li><li>Thames Valley Park - 1,500,000 sq ft office, residential, and retail</li><li>Winnersh Triangle<br /></li></ul><p>Expect better infrastructure to facilitate efficient freight capacity and transport. The Network Rail plans to modernise the Great Western route, as well as a 3.8km rail tunnel as part of a new Western Rail Link to London Heathrow Terminal 5 to be operational this year.</p><p>With The Crossrail, commuters can travel from Reading Station (10 mins walk from&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/30/may/2021/huntley-wharf-reading">Huntley Wharf</a>) to London Paddington in 23 minutes! Furthermore, Reading Station will be upgraded with a 600 lot bicycle parking hub.</p><p>The Royal Elm Park development will host new transport measures, such as subsidised local public transport, a new transport hub, and shuttle bus services to help relieve congestion.<br /></p><h2>3.&nbsp; World-Class Education &amp; Tech Facilities</h2><p>Reading defends their title for the&nbsp;<a href="https://livingreading.co.uk/reading-schools-top-a-level-league-tables" target="_blank">best A-level results in the country&nbsp;</a>for the fourth consecutive year. Reading University ranked 30 in the World University&rsquo;s ranking. 54% of the working population holds a<a href="https://www.centreforcities.org/city/reading/" target="_blank">&nbsp;degree level</a>&nbsp;or equivalent.</p><p>True to its reputation as the Silicon Valley of the UK, Reading has transformed from a manufacturing centre into a hub for IT, telecoms, tech. and digital businesses within the last few decades. They continue to attract real estate investment with the increased demand for tech/digital jobs.</p><p>Thanks to a strong performing tech sector, Reading&rsquo;s gross value added forecast (2.2%) surpassed the UK's average of 1.7%. Multinational &amp; tech companies continue to offer well-paying jobs to recruit the best talent.</p><p>It&rsquo;s a strategic time to buy a home in the UK at Reading. Reading&rsquo;s rental market is booming with tenants like these having more spending power. Most rentals are&nbsp;<strong>let within one week of being marketed</strong>. Should you be interested,&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/30/may/2021/huntley-wharf-reading" target="_blank">check out the Huntley Wharf project in Reading</a>.<br /></p><h2>4.&nbsp; The Forefront of Green &amp; Sustainability Initiatives</h2><p>As a smart city, Reading is primed to be a green city. Most facilities are designed to reduce environmental impact and for sustainable living. These include energy-efficient heating systems, high levels of insulation, incorporating the advancements in technology to improve driving efficiencies and reduce fuel wastage.</p><p>Marina and nature reserves will be an integral part of the city. Some residential areas would also incorporate acres of ecological areas, including ponds and reed; for residents to observe wildlife living in its natural habitat.</p><p>Under Reading 2050, Reading aims to become a city that can adapt to climate change.&nbsp; As a self-replenishing and self-reliant ecosystem, Reading will have all its resources locally sourced and consciously educate all its residents of their responsibility to live within their limits.<br /></p><h2>5.&nbsp; Ethnic &amp; Cultural Diversity</h2><p>In an environment where ethnic and cultural diversity is highly valued, Reading paves the way for its counterparts. McKinsey reported&nbsp;<a href="https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters" target="_blank">companies with diverse gender and ethnic executives are likely to perform 27% better than their counterpart</a>s.</p><p>Across the Borough, Reading residents speak 150 different languages in their homes. Reading is also the&nbsp;<a href="https://www.centreforcities.org/city/reading/" target="_blank">10th city in the UK with 18.6% of the population born outside the UK</a>.<br /></p><h3>Conclusion</h3><p>If you are looking to buy a home in the UK, or make a real estate investment for rental purposes, Reading is your choice location. It&rsquo;s a property investment bargain with relatively cheaper prices in the South East region and property letting yields at 4.6%. No doubt you can reap handsome returns. Just in the past 25 years,&nbsp;<a href="https://www.getreading.co.uk/news/reading-berkshire-news/reading-house-prices-grown-five-18113160" target="_blank">Reading properties have quintupled in their value.</a></p><p><br /></p><p>Interested in Reading&rsquo;s real estate? Check out the&nbsp;<a href="https://internationalresidential.jll.com.sg/apartment-new/reading/huntley-wharf">latest development</a>&nbsp;to find out more.</p>

5 Reasons Why Reading Is The Choice Real Estate Investment For UK

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<p><strong>Portugal is one of Europe&rsquo;s hottest property markets in more ways than one. It is not only seen as a safe haven that rarely makes the headlines with a stable political and economic landscape; it also has thousands of people relocating to its sunny shores every year.</strong></p><p>Its golden beaches, 1,800 kilometres of coastline and world-class golf courses are major attractions, and Portugal ranks third in the world&rsquo;s most peaceful countries behind Iceland and New Zealand.</p><p>Portugal is also widely viewed as a safe haven for foreign investors, and since 2009, has offered generous tax incentives for foreign buyers which last for 10 years.</p><p>On top of this, it has a very popular Golden Visa programme which offers residency permits through buying property investments.</p><p>&nbsp;</p><p><strong>Golden Visa</strong></p><p>The Portugal Golden Residence Permit Programme is a five-year scheme which offers residency by investing in the country through a number of different ways. Property investment has by far been the most popular route. As a resident you can have visa-free travel across Europe&rsquo;s Schengen Area which includes France, Germany, Italy and Spain and a Portuguese passport grants you visa-free travel to 185 countries.</p><p>Foreign investors also like the fact that Portugal has a quick turnover time to purchase property.</p><p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p><strong>Asians flocking</strong></p><p>Since October 2012, 9,625 investors and 16,382 family members have benefited from the Portugal Golden Visa and 9,042 (90%) of Golden Visa Portugal applications were done through real estate investments. While the Chinese remain the largest single applicant cohort (over 50%), their share of the program is decreasing as other nationalities are applying for the program too.</p><p>The Portugal Golden Residence Permit Programme has been very successful and now the government is removing the cities of Lisbon and Porto from the scheme to focus on other parts of the country. The new rules, which also affect coastal areas, will come in from July 2021 although there is a transition period to complete sales by the end of the year.</p><p>&nbsp;</p><p><strong>Business buzz</strong></p><p>While foreign investors have Portugal in their sights, it is also attracting plenty of talent particularly in the technology sector. Many international companies have set up regional headquarters in the country, such as Google which built a technology hub near Lisbon in 2018. Car-making giant Volkswagen also has major manufacturing operations in Portugal.</p><p>Up until the Covid pandemic which affected tourism the world over, Portugal&rsquo;s tourist numbers had been very healthy given its high number of sunshine hours. In fact, the southwestern coastline of Algarve gets more sun each year than all of Europe. As its tourism sector grew, this led to a scarcity of rental properties which drove rental yields up. This is good news for investors with properties in tourist hot spots.</p><p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190836/olmwebcontents/ip/prod/cimz9jp5votc8qw1orez.jpg" /></p><p>Algarve, Portugal</p><p>&nbsp;</p><p><strong>Sun, sea and golf</strong></p><p>The Algarve is one of Portugal&rsquo;s most popular destination, drawing sun-seeking tourists, beach lovers and golfers alike. One tourist hotspot is the Algarve, home to one of Portugal&rsquo;s most prestigious golf resorts. The 5,000km stretch of coast is known for its golden beaches, golfing and picturesque fishing villages along with an array of bars and restaurants.&nbsp;</p><p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190845/olmwebcontents/ip/prod/b2gptva8jmvqunsr0lms.jpg" /></p><p>Douro, Portugal</p><p>&nbsp;</p><p><strong>Lisbon and Porto</strong></p><p>If the objective is exclusively housing, you need to meet your personal preferences. A house in the Algarve is compatible with warm climate lovers, Porto is for those who like a mild climate and Lisbon is the best city to develop a professional career.</p><p>If the objective is the return on investment, there is a clear advantage in one of the options.</p><p><strong>Portugal&rsquo;s two main cities, Lisbon and Porto, have been the main destinations of foreign investment given they are seen as a trendy hotspots while being far cheaper to buy property in compared to other cities in Europe. &nbsp;</strong></p><p>Lisbon is one of Europe's smaller capitals with properties there inexpensive in comparison to London, Paris or Madrid.</p><p>The main driver for investors used to be quality of life, its historical heritage, natural beauty and over 280 days of sunshine. But it&rsquo;s a very interesting market for putting your savings and investments now too. You can get a return both on rental yield and in capital appreciation.</p><p>Porto has the same dynamic in terms of lifestyle. But it&rsquo;s also the research and development hub of the country. It&rsquo;s where much industry is based, and most of the money from Portugal&rsquo;s wealthy families is concentrated here.</p><p>&nbsp;</p><p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190855/olmwebcontents/ip/prod/mvjzaojm0cvtucs64skt.jpg" /></p><p>&nbsp;</p><p><strong>For investors looking for extra capital appreciation from their investments, Porto is the natural answer. House prices there are still 30% less than those in Lisbon, it has a lower square metre price to buy, so you have higher potential for investment returns.</strong></p><p><em>&lsquo;Many investors start enquiring about Lisbon. But when they ask for something that has a higher yield or capital appreciation potential, we say: yes, we do. In Porto&rsquo;</em>&nbsp;&ndash; says Filippo Simonato, Residential Business Development Manager for JLL, based in Lisbon.</p><p>&nbsp;</p><p><strong>Property Market</strong></p><p>While property prices have been rising modestly during the pandemic, Portugal has seen above average increases. Prices rose by almost 6% during 2020, according to the Idealista Price Index.</p><p>According to JLL&rsquo;s research&nbsp;<em>&rsquo;Investir no Mercado de Arrendamento&rsquo;</em>&nbsp;<em>(Investing in the Rental Market),</em>&nbsp;the residential rental yields in Lisbon are almost always above 3% and in Porto 4%; proof of a market where supply is scarce and vacancies tends to be absorbed quickly. It is a market with enormous potential for growth and income generation.</p><p>&nbsp;</p><p><strong>Who is buying &amp; renting?</strong></p><p><strong>Portugal is still proving popular with overseas buyers, and 57% of purchases are currently made by international buyers. While Asian buyers have been very active, these foreign-buyer purchases are spread across 47 different nationalities</strong>.</p><p>Rental incomes have softened a little during the pandemic, although this is believed to be only temporary. Some landlords have put their holiday homes up for rent on the local market while they wait for tourism to return.</p><p><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190864/olmwebcontents/ip/prod/x42fhuyyqi4iiozgebnj.png" /></p><p>Conde de Lima, Lisbon</p><p>&nbsp;</p><p>When tourists start to return to the many holiday hotspots Portugal has to offer, property owners should be well placed to reap the benefits, along with the tax and residency perks the country has to offer.</p><p>If you are keen to find out more about investment opportunities in Portugal and learn more about the Golden Visa Program, please contact JLL International Residential at +65 9671 9583 or&nbsp;<a target="_blank" href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>.</p>

Why are Chinese property buyers attracted to Portugal?

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<div><div id="block-system-main"><article id="node-684" about="/news/2021/04/09/japan-residential-market-report-20202021-forecast" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1618294419/olmwebcontents/ip/prod/kffennhh97wowraxd7uh.png" width="3211" height="1730" alt="" /></div></div></div><div><div><div property="content:encoded"><p><a href="https://internationalresidential.jll.com.sg/download?pdf=683&amp;return_to=news/2021/04/09/japan-residential-market-report-20202021-forecast" target="_blank">Download Report</a></p><div><br /></div></div></div></div></article></div></div><div>&nbsp;</div>

Japan Residential Market Report 2020/2021 Forecast

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<p>Not only Portugal is ideal for investors looking for stable returns on investment at a range of property price points, but the tax regime is very attractive. It offers a low effective tax burden, combined with a special Non-Habitual Residents tax regime, the free remittance of funds, the absence of inheritance and gift tax and no wealth tax.</p><p>Moreover, the residence permit scheme (granting travels within the Schengen area) and the possibility to apply for Portuguese nationality and, consequently, a EU passport, make Portugal a very attractive location.</p><p>&nbsp;</p><p><strong>The most popular Golden Visa program in Europe</strong></p><p>In 2012, Portugal approved special legislation designed to attract foreign investment, by offering a fast way for property investors (non-EU citizens) to receive a residence permit, making it a privileged entry into Europe and allowing such permit holders free circulation in Schengen countries.</p><p>The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Since its inception in 2012, thousands of families have successfully relocated to Portugal. &nbsp;An investment of &euro;500,000 (or &euro;350,000 reduced option) in real estate in Portugal will gain a residency permit for a family including dependent children.</p><p>In 2019, more than half of all real estate transactions in Portugal were purchased by foreigners and Portuguese real estate agencies have been actively wooing Chinese and Asian buyers.</p><p>According to a South China Morning Post article, Hong Kong is tipped to become one of the top sources of foreign investment in Portuguese property as residents seek a European haven from the civil unrest that has rocked the city since May 2019.</p><p>&nbsp;</p><p><strong>What are the main advantages of the Portugal Golden Visa?</strong></p><p>The holders of a Portuguese Golden Visa have many advantages:</p><ul><li>You do not need a visa to enter Portugal or travel through Europe (Schengen Area).</li><li>You can live and work in Portugal, even with residency in a different country.</li><li>Portuguese residency can be extended to family members.</li><li>It has extremely low minimum stay periods compared to other residency / citizenship programmes.</li><li>You can attain permanent residency after five years.</li><li>You can attain citizenship after six years.</li></ul><p>The residence permit is granted for a period of one year, renewable for two successive periods of two years, and requires the maintenance of the investment for a minimum period of five years and the presence in Portuguese territory for 7 days (consecutive or not) in the first year and 14 days (consecutive or not) in the subsequent periods of two years. The authorization may be extended to the investor&rsquo;s family members and the residence permit may be granted on a permanent basis after the initial period of five years.</p><p>&nbsp;</p><p><strong>Investment types</strong></p><p>This type of investment includes:</p><ul><li>Commercial or residential properties.</li><li>Real estate acquired in co-ownership, as long as the investor&rsquo;s share is at least the minimum indicated value.</li><li>Properties that are acquired individually or through sole proprietorship companies in which the investor is a partner.</li><li>Leased properties.</li><li>Properties encumbered, by the amount that exceeds the minimum amount of the investment.</li></ul><p>&nbsp;</p><p><strong>Portugal Golden Visa Changes in 2021</strong></p><p><em>Source: Cruz Roque Semiao Advogados (CRS Lawyers)</em></p><p>Only this month, the XXII Portuguese Constitutional Government has finally established the revisions and changes on the Residence Permit for Investment Regime (Golden Visa), by means of the Law-Decree no. 14/2021 of 12th February, which represents the 8&ordm; alteration to the Law no. 23/2007 of 4th July (widely known as &ldquo;Foreigners Law&rdquo;).</p><p>The main goal, according to said alterations, is to make this regime more and more directed preferentially to the investment in the interior territories, to investment in job creation and to the urban and cultural heritage requalification.</p><p>With that in mind, the first essential and most relevant decision that was made was that<strong>&nbsp;these changes will only come into force/into effect on 1</strong><strong>st&nbsp;</strong><strong>January 2022</strong>, meaning that foreign investors have until 31st December 2021 to invest in the exact same terms and conditions, all over the country, towards their Golden Visa Applications.</p><p>As of 1st January 2022, the following changes, which will represent an increase in the minimum investment amounts, as well as affect the geographical area of application in the real estate investment for habitation purposes, will apply:</p><p>&nbsp;</p><p><strong>1. Real Estate Investment</strong><strong>:</strong></p><p>a. In the amount of &euro; 500.000,00, for habitation Purposes, will only be allowed in the interior of Portugal, Azores, and Madeira.</p><p>b. In the amount of &euro; .350.000,00, with rehabilitation investment, for habitation Purposes, will only be allowed in the interior of Portugal, Azores, and Madeira.</p><p>&nbsp;</p><p><strong>2. Capital Transfers</strong><strong>:</strong></p><p>a. The amount of investment for the Capital transfer with a value equal to or above 1 million Euros, changes to a minimum of 1.5 million euros.</p><p>b. The amount of investment for the Capital transfer for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system changes from &euro;350.000,00 to a minimum value of &euro; 500.000,00.</p><p>c. The minimum amount on the Private Equity Funds investments, changes from &euro; 350.000,00 to a minimum value of &euro; 500.000,00.</p><p>d. The minimum amount on the capital transfer for incorporation of a Company in Portugal, combined with the creation of five (5) permanent working jobs, OR for the reinforcement of the share capital of an existing company in Portugal, with the creation or maintenance of said jobs, changes from &euro; 350.000,00 to a minimum value of &euro; 500.000,00.</p><p>&nbsp;</p><p>In view of the above, and according to the remaining legal diploma that was published, it is essential to highlight that:</p><ul><li>Foreign Investors will have until 31st December 2021 &ndash; almost a whole year &ndash; to submit their Golden Visa application, taking advantage of the current Law as it is and was from the past years (with the same minimum amounts, on the same locations, and with the same requirements).</li><li>As long as these applications, by the Investors, are submitted before the 1st January 2022, client(s) can benefit for the same rules and have their residence permits granted, even if the actual approval of the process happens after that date.</li><li>The geographical limitations that will happen on the real estate investments, by &ldquo;pushing&rdquo; the investment for habitation purposes to the interior and the Islands, will still give a lot of interesting and potential possibilities in terms places to invest in Portugal, which will help on the development of those areas.</li><li>On the real estate investments, only the ones for habitation purposes will be affected, meaning that for commercial/services or other purposes foreign investors will still be able to invest in the whole country, namely in Lisbon and Porto, just like before, after the 1st January 2022.</li><li>Family members can still benefit from the Family Reunification applications and benefits, even after 1st January 2022, as long as their Main Applicant/Investor has submitted his/her application before that (under the same law).</li></ul><p>&nbsp;</p><p><em>Gustavo Machado Dias associate lawyer of CRS Lawyers</em></p><p>&nbsp;</p><p><strong>The new regime comes into force on January 1, 2022 and is applicable to all applications for Residence Permits trough an Investment Activity (ARI) presented from this date forward.</strong></p><p>But until the regulation takes off, there is still a window of opportunity to utilise the popular Golden Visa programme via property investment.</p><p>This new regime does not affect the processes in progress and which have been approved under the law currently in force. Meaning, existing renewal processes and granting /renewal processes for family reunification which associated investment has been made until the end of this year (still in the period of the current law).</p><p>&nbsp;</p><p>For more details please contact JLL International Residential at +65 9671 9583 or&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a></p><p>&nbsp;</p><p>To find out more about the Portugal Golden Visa program, &nbsp;join our live webinar &lsquo;Let&rsquo;s Talk Property. Portugal&rsquo;s Golden Visa &ndash; Residency Through Investment&rsquo; on Thursday, 22 April 2021 at 6pm.</p><p>Register&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/22/apr/2021/portugals-golden-visa"><span style="text-decoration:underline;"><strong>here</strong></span></a></p><p>&nbsp;</p><p>&nbsp;</p>

How to Invest In Portugal For Citizenship? Why is the Portugal Golden Visa so in-demand? And why are non-EU citizens applying in the hundreds?

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