Thanks for posting this. I think the net result will be that this is going to cause a panic in the short term of both people looking to move to Portugal and then sellers of homes in Portugal. From my observations of preowned home sales, it appears that prices may be starting to drop as sellers realize that they may be stuck with properties that they had planed on selling. In the long term I think that the Portuguese government will realize that that eliminating the NHR didn't really have the affect that they wanted and just reduced the some of the flow of cash in to the country. A lot will depend on what the other EU countries do too.
I'm probably typical of D7 applications at the moment but if I don't get NHR I will go to Spain where houses are much better value and tax will be lower
Thanks for this. Where are you keeping track of home sales/prices as the basis of your analysis? I am interested in finding motivated sellers rather than slow footed ones.
Also, Portugal doesn't appear to have something like the MLS or Zillow. So real time actual selling prices are delayed, which may mean it takes much longer for people to see that pricing and demand has really been effected
I think that most expats aren't rich and will have some problems, but people like myself who lives in one of the most expensive states in the US will have no problem at all and it will actually benefit us as the housing market will crash and they will get great deals on real estate. Remember the prices here for healthcare and property taxes alone are more than what people live on monthly there. I pay 1500 USD a month just for property taxes, add healthcare and everything else and your're looking at 9-11k a month.
I have seen people buy before and after they moved. Part of it comes back to how long you intend to keep the house as well and the financial impact of potentially selling under NHR or other programs in the future
@@chadwilliams6150 there are services that can register you at an address by the way, so you can still get your NHR…let me know if of interest, can point you in the right direction
How about if you have a D7 before 31/12/23 but are awaiting for a SEF appointment? Can you apply for NhR after receiving D7 which is effectively a residence visa but before SEF
People who want to live in Portugal can still live here. They just have to pay taxes like everyone else. It’s not the end of the world. It will hopefully get rid of the ones who were just here to avoid taxes.
One of the main reasons people were moving to Portugal is to be able to afford better quality of life than they could afford in their native countries. I don’t think majority of them were millionaires . They brought plenty of money into the country as is. Now that stream of money will evaporate
Bad enough I have to pay US taxes, if you think I will in addition pay Portuguese taxes guess again. I’m bring $ to the country already, but no longer.
Thanks for posting this. I think the net result will be that this is going to cause a panic in the short term of both people looking to move to Portugal and then sellers of homes in Portugal. From my observations of preowned home sales, it appears that prices may be starting to drop as sellers realize that they may be stuck with properties that they had planed on selling. In the long term I think that the Portuguese government will realize that that eliminating the NHR didn't really have the affect that they wanted and just reduced the some of the flow of cash in to the country. A lot will depend on what the other EU countries do too.
I'm probably typical of D7 applications at the moment but if I don't get NHR I will go to Spain where houses are much better value and tax will be lower
Hi David which areas in Spain look like a good option to you?@@davidwebber6956
Thanks for this. Where are you keeping track of home sales/prices as the basis of your analysis? I am interested in finding motivated sellers rather than slow footed ones.
Northern and central Portugal.
Also, Portugal doesn't appear to have something like the MLS or Zillow. So real time actual selling prices are delayed, which may mean it takes much longer for people to see that pricing and demand has really been effected
I think that most expats aren't rich and will have some problems, but people like myself who lives in one of the most expensive states in the US will have no problem at all and it will actually benefit us as the housing market will crash and they will get great deals on real estate. Remember the prices here for healthcare and property taxes alone are more than what people live on monthly there. I pay 1500 USD a month just for property taxes, add healthcare and everything else and your're looking at 9-11k a month.
Excellent video.
Thank you!
wondering if a tax of 10% for pension like SS remains or if this is pension at higher tax rates .
This change has caused my wife and I to cancel our purchase. An extreme disappointment.
Which purchase did you cancel? (We’ve been looking to move to Portugal also)
I have seen people buy before and after they moved. Part of it comes back to how long you intend to keep the house as well and the financial impact of potentially selling under NHR or other programs in the future
the house is located in central Portugal. We are now in process of negotiating our deposit back.
@@chadwilliams6150 very sorry to hear that. Such bad news for Portugal…slow motion decline pending I imagine…
@@chadwilliams6150 there are services that can register you at an address by the way, so you can still get your NHR…let me know if of interest, can point you in the right direction
If I’m asked to pay tax again on my earnings, we will be gone…
That's the idea.
That's fine by me. @@ste7193
After I have registered for NHR with my initial address can I move to another house without losing NHR?
You should check with your tax advisor, if you have one in Portugal
How about if you have a D7 before 31/12/23 but are awaiting for a SEF appointment?
Can you apply for NhR after receiving D7 which is effectively a residence visa but before SEF
I think yes, you can
People who want to live in Portugal can still live here. They just have to pay taxes like everyone else. It’s not the end of the world. It will hopefully get rid of the ones who were just here to avoid taxes.
One of the main reasons people were moving to Portugal is to be able to afford better quality of life than they could afford in their native countries. I don’t think majority of them were millionaires . They brought plenty of money into the country as is. Now that stream of money will evaporate
Bad enough I have to pay US taxes, if you think I will in addition pay Portuguese taxes guess again. I’m bring $ to the country already, but no longer.
Go home people and vote Bernie Sanders
Rumor has it that Michelle Obama will be running for the presidency.
I cancelled my plans
Hope the place goes skint, run by idiots
She better hurry up, the elections not that far away..