en 
According to Pedro Fontainhas, the Government is "wanting to put an end to something that ended a year ago when it removed the possibility of investing in urban centres with golden visas", noting that the executive now aims to end "what was left out, investment in trade and services units, as is the case of tourist units".
"The tourist units are not housing", he underlined, indicating that "they constitute a parallel real estate offer integrated" in a "set of tourist services and which is intended for temporary use and holidays for Portuguese and foreigners".
Instability
According to Pedro Fontainhas, "these units even have a positive effect, of reducing the demand for temporary housing", arguing that it is "an imprudent measure because once again we are showing the total instability of our legal and fiscal system", which "transmits a bad image of Portugal and the Government", he assured.
"Since this was announced we have had numerous customers, investors suspending their investments" and being "on the back foot" due to the Government's announcement, he said.
According to data released by Pedro Fontainhas, "in 2022, the year in which it was already impossible to invest in ARI [Residence Permits for Investment activities, or golden visas] for housing in urban centres, 534 million euros of investment, that is, a potential of more than three billion euros over five years".
The association leader also said that the measure "fails due to the disrespect for the heterogeneity of the country", highlighting that "Portugal is not just Lisbon and Porto".
"Even if the ARI were a problem in the lack of housing in Lisbon and Porto, which they are not, why punish all regions equally, and some regions" depend "heavily on tourism and the capture of this investment in the tourist product".
Proposals
The association is therefore working on a draft of various measures to be proposed in this context.
"The first measure is for the Government to set aside a period of reflection of at least one year to carry out independent studies of the objective impact of the pros and cons of the measure and not to do things on its own," said Pedro Fontainhas.
The association leader also suggested reviewing "the minimum allocation value of the ARI even in tourist units", given that "it may be the case that Portugal is a little below the competition in terms of the minimum threshold and the rise could create more barriers to entry and more taxes for the state".
For the association, it was also important "to create a special tourist surcharge for the acquisition of tourist real estate in return for a residence permit and which, for example, would finance the construction or lease of affordable housing" and move forward with an ARI "for investment in construction of affordable rental properties".
Finally, the association leader appealed to eliminate the use of the term golden visas, because "it has become completely toxic".
The association promises that it will participate in the public discussion of the measures, having already asked the Government for meetings.
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Why not be transparent and call it open for money laundering?
By K from Other on 02 Mar 2023, 19:31
Ending the Golden Visa is a good first step at reducing the amount of empty homes around the country. Portugal has seen the highest increase in property prices in Europe recently and as a result the Portuguese are struggling to either buy or rent in their own country. The government has sold its housing stock to wealthy foreigners many who are merely in it for the passport. It needed to stop
By Lisbon Resident from UK on 02 Mar 2023, 20:17
There is the age old saying “You can’t please all the people all the time”
With that said, I always look at the situations as a math problem. Draw a line under the said opinion and you’ll have the answer in the form of who gains $$ from stated opinions.
The government is charged with making policy based on the best collective outcome. Special interests are only interested in making $$ for business as usual.
By A V from Algarve on 02 Mar 2023, 20:30
Stop complaining. Your arguments are lacking merit. Nothing is preventing anyone from buying your precious overpriced tourist-oriented properties outside of Lisbon & Porto, whether for their own exclusive use or to generate rental income. If it’s a good investment, then Portuguese residency (and citizenship, after 5 years) doesn’t need to be used as an incentive. No one should be able to “buy” citizenship. If someone wants to be a resident here, leading to citizenship, let them qualify through any of the other mechanisms already in place. These mechanisms require substantial physical presence in Portugal to maintain official residency, as opposed to the golden visa’s 2 weeks per year.
Portuguese real estate is for sale. Portuguese citizenship should NOT be.
By Alexandre from Lisbon on 02 Mar 2023, 23:00
The solution to lower house prices isn't to stop wealth coming in; rather it is to build more houses. Also, with careful targeting, Golden Visas could bring much needed cash to less developed parts of the country.
By Alex from Algarve on 02 Mar 2023, 23:53
It’s a short term solution to a long term problem, and I think creates more problems down the road by selling out the country to the highest bidders.
By John from USA on 03 Mar 2023, 12:25
Will be fine....Good riddance!
By alex dias from Lisbon on 03 Mar 2023, 12:36
Too many houses stand empty here, due to family disputes. Requisition them and make them available.
But don´t let the corrupt take advantage of this scheme.
By Steve. from Algarve on 03 Mar 2023, 14:31
No more money laundering and tax avoidance by people who are living here on paper only in order not to pay tax in their country of origin.
By Mimi from Beiras on 03 Mar 2023, 14:34
Alex! You are correct, the solution is to build more houses.
Problem is, municipalities own building legislation. Basically what you can build and where. This country is full of "agricultural" land plots, but it's impossible to get a building license for those. So, those "urban" plots are expensive and rare. Even plot have ruin on it, it's not sure that you can get license.
By JussiJ from Other on 03 Mar 2023, 14:38
@Jussi, you are right! It's a question of vision and management - both which the Portuguese do not have nor are interested in having. Portugal is stuck in a time warp of inefficiency, only interested in easy money (e.g. tourism above all) and not investing in real productive work and solving problems. Easier to blame climate change and beg the EU for more money.
By S from Other on 04 Mar 2023, 14:19
JussiJ, exactly, the planning laws are way too restrictive for a below-average density country. This unfortunately translates into Portugal having one of the lowest levels of housebuilding in Europe.
By Alex from Algarve on 04 Mar 2023, 17:51
It is exactly the opposite: golden visas were the ones creating a "bad image" of Portugal.
By Diogo F. from Lisbon on 05 Mar 2023, 13:25