(4.5min read)
Having gone through a great recession period between 2007-2009, Portugal has seen an increase of housing prices since 2010.
With 10% growth, Portugal ranks fourth in the ranking of countries with the largest increases in house prices in the European Union. Data referring to the 2nd quarter of 2019 was recently released by Eurostat (Official Institute of Statistics of the European Union / EU).
Who are the investors?
Even with frequent price increases, it is already possible to see the first signs of decreasing compared to the previous year's numbers, which has been welcomed by the market, as it shows a greater balance and maturity of the sector.
If we analyze the evolution of the house prices, it is necessary to take into account the purchasing capacity of potential Portuguese and foreign buyers. Having said that, only in 2018, the average number of buildings sold to foreigners rounds 171 thousand euros, 58% higher than the average of global transactions.
Know who the Foreign investors in Portugal are here.
Portugal is facing a cyclical period, and rising house prices tend to attract investors, leading to the promotion of this sector, where the trend is that new products start to appear more intensely, contributing to pricing relief.
The portuguese real estate market continues to live the best years of the last decade, because even with the continuous rise in property prices, the sector is still fueled by national, but especially foreign investment, since real estate in Portugal still has the lowest prices, compared to the prices practiced in cities such as London and Paris.
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Tax incentives are also an attraction for investors
The great search for real estate in Portugal by foreign investors is due to tax incentives and the Golden Visa programme, which acts as a residence permit, intended for citizens from countries outside the European Union or from the Schengen area, aimed for investment, job creation and/ or real estate acquisition worth 500.000€ or higher.
If you’re looking to invest in Portuguese Real Estate, know how to Buy a Property in Portugal here.
Source: listglobally.com
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