CGD finances luxury house purchases in Brazil auction

Over 40 properties in Portugal, worth an estimated €50 million, went under the hammer on Thursday in São Paulo.

The four dozen properties worth between €1 million and €6 million or more, including houses, shops and farm estates were auctioned to rich investors attracted by a discount of 20% and Portuguese citizenship through the Golden Visa scheme.
The buyers are also being awarded attractive payment conditions with a Portuguese bank: state-owned Caixa Geral de Depósitos (CGD).
The 44 properties were auctioned at Leilão VIP with starting bids at €150,000 (an apartment in Fátima or Santarém) up to €6 million (an estate farm in Avis, Portalegre).
But the lion’s share are luxury apartments in Lisbon and Cascais, including town houses and luxury apartments worth over €1 million in many cases.
“The time has come for the Brazilians to invest in Portugal and take advantage of the best in Europe”, states the auction house in its Portuguese property auction catalogue.
“Portugal is the third most secure country in the world, Lisbon is the second best city in the world in which to invest and Portugal’s systems of transport and health are efficient,” it adds.