For the first time in two decades, the US dollar and the Euro hit parity in July 2022. The currency, shared by 19 European countries, has slumped more than 11 per cent since the beginning of this year.



But the weakened Euro holds great economic significance for businesses as well as individuals, especially those earning and spending in US dollars, or in currencies pegged to the dollar. In terms of real estate too, while certain property values have gone up, the cost in plenty of areas has come down from what it was two years ago.


“June 2022 alone recorded the highest figures with over €78 million investments in the Portugal Golden Visa program, a first since 2020.”


Rise in numbers:


  1. More than €78 million investments in Portugal Golden Visa in June.
  1. Real estate in Lisbon growing at a rate of 2.5% annually since 2016.
  1. Santa Maria da Feira experienced an annual growth of 12%.
  1. Demand for properties has grown by 20% in Porto and Sintra.
  1. 83% of investors in Portugal foresee a rise in demand from tenants for sustainable properties.


This certainly also makes it the best time to invest in a long-term residence permit in Europe. June 2022 alone recorded the highest figures with over €78 million investments in the Portugal Golden Visa program, a first since 2020.


Jeremy Savory, founder and CEO of Savory & Partners – a leading global residency and citizenship by investment (RCBI) company headquartered in Dubai, says, “If I can talk about the impact in the context of the RCBI industry, it’s an excellent opportunity for those earning in dollar-pegged currencies. Right now, many investors see everything turning red in terms of stock, crypto, and real estate. Now is the time for people to invest in something that is already discounted, diversifies their currency, and with interest rates that don’t directly affect their investment.”


June 2022 alone recorded the highest figures with over €78 million investments in the Portugal Golden Visa program, a first since 2020

Real estate boom


Savory points out that the Portuguese Golden Visa program is one of the best ways for investors to access this market. Adding, however, that time is of essence here. Cyprus has closed down its citizenship program and the Montenegro citizenship program is expected to close by the end of the year, Turkey has increased its investment threshold and Greece is expected to follow suit.


“I think we have some months before it comes into effect. Portugal only changed their legislation nine months ago, so I can’t see them changing it again so soon. Increased threshold does not mean higher fees. It means you just end up buying more real estate and there’s nothing wrong with buying more property.”


Best places to invest in real estate in Portugal


As a long-term resident of Portugal himself, Savory says Portugal’s golden visa gives the investor the opportunity to be part of one of the most progressive real estate destinations in the world.


Three popular neighbourhoods across Portugal that according to him are the best for families to choose to buy a home in are Melides, the Municipality of Oeiras and Belem. “Melides, right next to Comporta, is fast becoming one of the most expensive price per sqm attracting ultra HNW Europeans and Americans”, he says, adding that you can invest in an office space in Oeiras, get a Golden Visa, and you would get very high-quality tenants too.


A personal favourite of Savory, Belem, with its beautiful parks, beach-front restaurants and cultural landmarks is a preferred real estate investment.


Jeremy alongside his wife, Helena Savory, expanded the family business with the RCBI company, and with just the two of them in the beginning, Savory and Partners has now grown to become a global corporation with over 60 industry experts worldwide.


Helena Savory, Managing Director of the company and a mother of two young boys says access to exceptional education, high quality healthcare, low cost of living, safety and its amazing climate made Portugal a preferred option for her to gain residency in as a family and businesswoman.


“As an example, a coffee and the much-loved pastry, Pastel de Nata, would cost you not more than €1 (equivalent to $0.96 cents), which shows you the unbelievably low cost of living in Portugal.” – Helena Savory


Helena adds that Portugal’s education sector is impressively expansive. Its higher education system is ranked as the 35th best in the world. Public education is free and compulsory until the age of 18. She notes that the country occupies the sixth position in the ranking of countries with the highest percentage of women entrepreneurs, ahead of countries such as Spain, Italy or Ireland. “Women are making their way to the top of the business ladder, and investment migration can help them take their success to a global stage.”


Portugal is witnessing an increased interest in investors looking for property and recently, the Green Visa scheme was introduced through which investors can obtain the Portuguese passport with an investment in environmental projects.


Savory and Partners has a strong bilingual team in Lisbon and offices across the world to help investors find the best residency option for themselves. Find out more by visiting

Leave a Comment

Your email address will not be published.

You may also like

Business Economy Events News Society Sponsored Tourism Travels

EMEC EXPO, the International Exhibition of Digital Transformation is back for its 3rd edition and will be held on May 10th & 11th,2023 at the Hyatt Regency Hotel, Casablanca-Morocco





The EMEC EXPO Exhibition is an event dedicated to Digital Transformation, focusing on e-marketing, e-commerce, hosting & cloud, mobile internet, social networks, internet of things and technology.

EMEC EXPO 2023 responds to the urgent need for businesses to embrace DIGITAL TRANSFORMATION by allowing them to discover the latest breakthrough technologies that are revolutionizing the world, as well as the tools and solutions that will better equip them to face this dynamic of permanent transformation.

Digital transformation represents a strong lever of competitiveness and a great opportunity for growth and productivity. Therefore, companies are obliged to provide themselves with the means to adhere to this mutation, which will allow them to accelerate the achievement of their development objectives by taking advantage of the opportunities offered by information technologies.


International Exhibition of Digital Transformation Consecrated to e-marketing, e-commerce, hosting & cloud, mobile internet, social networks,…

Read More
Business Economy International News

Business support groups poised to drive African integration


Regional and continental business support organizations can help Africa’s private sector benefit from the continent’s free trade area, after a webinar that highlighted progress the Agreement has made.


Business support organizations can play a crucial role in the success of the African Continental Free Trade Area (AfCFTA).

The International Trade Centre (ITC) and the AfCFTA Secretariat held a webinar to update these organizations on the free trade bloc’s negotiations and implementation. The session also presented findings of their joint exercise to map business support organizations across the region.

The regional and continental business groups used the session to voice their priorities and needs, as well as to explore methods to update their services on the AfCFTA.

The collaborative effort is part of a broader joint commitment to make free trade work for Africa’s private sector.

Kicking off the session, the AfCFTA Secretariat explained its Guided Trade Initiative. The new scheme aims…

Read More
Business Culture Opinion Society




The Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE has said that the Agency has been implementing several initiatives and programmes aimed at bridging the gender divide that exists in the Information Technology sector.

The Director General made this disclosure through his Special Adviser on Innovation and Strategy, Mrs. Iklima Musa at a programme in Abuja organised by the African School of Economics, (ASE) in partnership with African Women Entrepreneurship Programme, (AWEP) to commemorate the World International Women’s Day with the theme “Embrace Equity: Cracking the Code”.

Inuwa informed that part of the programmes the Agency has embarked on to bridge the gender divide was a training organised on the 7th of this month where the agency trained 200 women in digital marketing, digital entrepreneurship and 3D painting and “we are planning to train another 200 women this month and the next,” he revealed.

He said that, “There is…

Read More
Business Economy Energy

Transmission Substation Groundbreaking: Minister Rallies Support for APC



The Minister of Information and Culture, Alhaji Lai Mohammed, has performed the groundbreaking ceremony for the installation of 1 x 60MVA Transmission substation in Oro, Irepodun Local Government Area of Kwara State, with a call on the people of the state to sustain their support for APC in the forthcoming governorship and House of Assembly elections.

Speaking at the occasion on Thursday, Alhaji Mohammed, who was accompanied by the Managing Director of the Transmission Company of Nigeria, Engr. Sule Abdulazeez, the Council of traditional chiefs and some APC stalwarts in the state, said the project would lead to improved power supply to Oro and its environs, boost economic activities, especially for artisans and small and medium scale businesses, and enhance the social development of the people.

He therefore implored the people of the community to ensure peace and security in order to enable the contractor to deliver the project within the…

Read More
Announcements Business Investments Software Technology

Hyperspace Technologies Introduces Keymaster VAULT: A Low-Cost, NFC- Based Hardware Wallet for the African Market 


Hyperspace Technologies (, a Lagos-based Web3 startup specializing in next-level smart security infrastructure and key management systems, today announced the launch of its groundbreaking product, the Keymaster VAULT (

Designed to cater to the African market, Keymaster VAULT is a secure, NFC-based hardware wallet that stores private keys offline, offering an affordable and user-friendly alternative to expensive and complicated traditional hardware wallets.

Leveraging the simplicity of Near Field Communication (NFC) technology, the Keymaster VAULT allows users to securely access their digital assets by merely tapping their NFC-enabled devices.

This eliminates complex installation processes, making the wallet an ideal choice for both cryptocurrency novices and experienced users. With offline storage of private keys, the wallet significantly reduces the risk of hacks and malware attacks associated with online storage.

“We wanted to…

Read More
Business Economy Investments News Opinion

Currency slump sees surge in demand for dollars assets in West Africa despite greenback’s ongoing strength (By Abiodun Adebimpe)


The Russian-Ukraine war and the lingering impact of the COVID-19 pandemic have severely weakened West African economies and currencies – but businesses and investors are looking to dollar assets to mitigate the damage.


As most West African economies are commodity-driven, any development within the global economy that affects the supply and/or demand of commodities imports and exports portends significant currency weakening effects on the economies.


Recent and ongoing global events have created massive demand destruction in crude oil, agricultural products and precious metals such as gold. Supply chains are also still to recover.


As a result, most West African currencies such as the Nigerian Naira (NGN) and the Ghanaian Cedis (GHC) have significantly weakened.


It is a major source of concern – and an ongoing challenge- for most Nigerian businesses and those in other West African countries.


Fiscal and monetary imbalances compound the problem.


The import-dependent nature of most West African markets implies huge demand…

Read More
Business Culture

Appearance will give you a leg in the room – Fola Daniel Adelesi



Several years ago, a company was going to run a corporate event at one of the prime hotels in Lagos. You probably already have an idea of the location or possible locations. You may understand the fanfare that will accompany that kind of event. We all know that half of the activities will not be needed or noticed but they still go into the event anyway.

Sometimes, the organizers are scared of failure and you can tell from their facial expressions or tones when they talk to you over the phone. They want a perfect event and they sometimes want to see that perfection in you as a vendor. The implication is that you have to be the one allaying fears by demonstrating the perfection they want to see.

I saw the ad for this company’s event and decided to bid to compere the event. I had experience on my side…

Read More
Announcements Business Economy Events Fintech International Technology Technology Trends Telecoms Travels Trends

Global tech pioneers and innovators look to supercharge double-digit business growth across Africa



International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy

Global tech pioneers and innovators are preparing to supercharge double-digit business growth across Africa, as they eagerly anticipate the debut of the continent’s largest and most inclusive tech and start-up event in Marrakech, Morocco.

GITEX Africa will open doors for the first time from 31 May-2 June 2023, welcoming 500 exhibitors and 400 start-ups from 95 countries, with regional and international companies exuberant about the potential of the world’s rising tech continent, and the opportunities amplified by Africa’s ongoing Digital Transformation Strategy.

Among those spearheading the charge into African tech’s showpiece event is Japanese headquartered Epson; American giants Autodesk, Honeywell, Hewlett Packard, Dell, ESRi, Nutanix, Cisco and Shure; Lenovo, Huawei, and TP Link from China; along with DP World and the Technology Innovation Institute from the UAE.

With the African Union’s bold…

Read More