Investing in Portuguese real estate - a profitable choice? Let's consider the3 main points.
Moments of uncertainty and challenges are currently being observed in the real estate market in Portugal, with many industry players working in the residential segment requiring greater supply of homes. Demand continues to remain high, especially from foreign investors. So, is it worth investing in real estate in Portugal in the current turbulent economic conditions? There are arguments that will help answer this question.
"Competitive housing prices, demand for short-term rentals, and excellent investment opportunities for those seeking long-term income are the main reasons for investing in Portugal," the statement from Engel & Völkers (E&V) said.
"The combination of good weather, quality of life, proximity to beaches, and the fact that Portugal is the sixth safest country in the world makes it very attractive for foreign investment," the statement said.
According to a real estate agent, there are three reasons why investing in real estate in Portugal is a great opportunity.
1. Competitive housing prices
Despite the constant increase in demand for real estate in Portugal, prices remain very competitive compared to other countries in Europe. According to data from the National Institute of Statistics, in the last quarter of 2022, the average price per square meter in Lisbon was around 1,446 euros, which is considered "a very competitive price compared to other cities in Europe."
2.
In terms of profitability, Portugal continues to be one of the most sought-after destinations in Europe, with the tourism sector continuing to grow. "This leads to an increase in demand for short-term rental properties, which presents a great opportunity for those considering investments in Portugal," E&V stated.
3. Demand for short-term rental properties
“There has been a noticeable increase in demand for real estate for short-term rentals and investments in the hospitality business,” says the broker, noting that Portugal has “become one of the most popular and sought-after tourist destinations in Europe” in recent years. The increase in demand is linked to factors such as climate, safety, cost of living, and the possibility of remote work.
According to Vanessa Moreira, the sales director of E&V Portugal, the country has "undergone a significant rise in the real estate sector" and reminds us that in 2022 it was recognized as the 20th country with the highest quality of life in the world. This is due not only to purchasing power but also to the cost of living, climate, safety, and quality of the environment. "These factors make acquiring real estate a good and safe investment, whether it is a primary or secondary residence. Currently, Portugal is one of the most sought-after countries for foreign investments, which account for about 63% of all transactions in this sector," she notes.
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