The new rules for Golden Visa, defined on the Decreto-Lei n.º 14/2021 - DRE, will come into effect after 1st of January 2022.
Until then all remains as it is.
Q. What changes on the 1st of January 2022, then?
Not much, besides the eligible areas where buying a property is acceptable to apply for Golden Visa (or ARI Residence Permit).
Referring specifically to the Algarve and South Alentejo, after 1st of January 2022, see below the eligible areas to buy a property. All the circumstances and amounts will remain the same as the previous law.
a) Acquisition of real estate with a value of 500.000€ or more (-20% = 400.000€)
b) Acquisition and realization of real estate rehabilitation works, for a total amount equal to or greater than 350.000€ (-20% = 280.000€)
Both situations can be reduced by 20% if the properties are located in Low density areas as the eligible areas listed below.
Eligible Algarve Counties:
Vila do Bispo
Eligible South Alentejo Counties:
Ferreira do Alentejo
So, if you wish to apply to the Golden Visa program you still have until the end of the year to do so, without the geographical limitations.
Here are some suggestions of properties:
Sources: Martinez-Echevarria Ferreira & Rivera and Idealista