Based on Beyond the Purchase Price by Lei Chen, Founder & Co-Founder of Santheos, originally published on 9 September 2026.
What happens after the purchase?
The purchase price is only the entry point of a property investment. Chen examines how capital can continue through renovation, engineering, skilled labour, materials, professional services, taxation and ongoing property management.
His central argument is that the economic contribution should be assessed by what happens after acquisition. Lawful redevelopment of suitable underused buildings can create usable residential space and support a wider domestic value chain; ownership transfers alone do not establish that outcome.
Illustrative calculations, not measured totals
25,000 investments multiplied by the historic €250,000 threshold produce a €6.25 billion benchmark. Applying 3.09% gives approximately €193 million. These are arithmetic scenarios—not audited Golden Visa investment totals or measured government revenue. Permit counts do not prove an equal number of separate property purchases, and investors entered under different rules and values.
In a hypothetical €250,000 transaction, 3.09% would equal €7,725. The article also compares this with a proposed effective rate of 15.45%, or €38,625. That comparison reflects the September 2026 announcement and analysis; it does not confirm enactment, current applicability or a buyer’s actual tax bill. Construction expenditure, fees, VAT and contingencies must be assessed separately.
A practical verification checklist
Verify the investment category, property use, permits, completion requirements, applicable taxes and payment evidence with the appointed legal and technical professionals. A scenario is not a guarantee of eligibility, approval or returns.
Read Lei Chen’s full article and official source references on Santheos.
This account represents Santheos. This English summary preserves the original analysis date, expert interpretation and scenario limitations.
