With a robust economy, attractive mortgage rates and a vibrant property sector, Portugal is emerging as a destination for property investment. Measures taken by the Portuguese government, such as the Golden Visa programme and the Non-Habitual Resident scheme, coupled with a thriving tourism industry, have added to the country’s appeal. These factors have attracted international interest, resulting in increased demand for high quality, new-build properties and boosting the overall vibrancy
of the Portuguese property market.
Increasingly popular
According to the Instituto Nacional de Estatística (INE), the average property price in Portugal is €1,187 per square metre, making it
an increasingly popular choice for many. According to Eurostat, the cost of housing in Portugal is set to increase by an impressive 157% between 2020 and 2021, while rental prices are set to rise by 112% between 2015 and 2021. Lisbon is now the most expensive region,
with properties costing an average of €3,464 per square metre. The Algarve, particularly the coveted ‘Golden Triangle’ area, is also attracting significant foreign investment with an average price of €3,102 per square metre. Luxury properties in Cascais, Lisbon
and the Algarve can range from €1.6 million to a staggering €20 million, illustrating the continued rise in property prices in Portugal.
International Investors
The allure of Portuguese real estate extends to a wide array of international investors. British buyers, for instance, favor properties in the Algarve, while French and Brazilian investors often opt for Porto. Lisbon and Faro are preferred by German investors, whereas Chinese buyers show significant interest in the Golden Visa scheme, making Portugal the fifth most popular destination for Chinese property buyers. The country’s diverse range of residents includes Americans and South Africans as well.
Portugal’s flourishing economy, combined with enticing government incentives, competitive property prices, and extensive renovation potential, makes it an ideal destination for many interested in the real estate market. This trend looks set to continue, further solidifying Portugal’s position as a prominent player in global real estate investment.
