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Why invest in Portuguese real estate?
The significant increase in tourism in recent years (10% to 20% growth per year) has made the country more attractive, especially since the State is making every effort to promote the development of tourism with the help of a significant investment in transport infrastructure to make the country as accessible as possible. This strong growth in tourism generates, of course, an increase in the costs of hotels and seasonal rental accommodations. Lisbon has been one of the 5 favorite destinations of the French for several years, and it keeps climbing up the ranking every year!
Portugal is a country that offers a beautiful quality of life, wonderful landscapes, a sunny climate year-round, a rich cultural and historical heritage, as well as its friendly inhabitants. All of these qualities have conquered the hearts of the many foreigners who’ve chosen to settle in Portugal or invest in its real estate.
In regards to taxation, the advantages are also interesting: NHR (Non-Habitual Residents), benefit from a significant tax reduction, in some cases for as long as 10 years. Retirees who have invested in a secondary home are exempt from tax if they have resided in Portuguese territory for 183 consecutive days. In addition, Portuguese legislation provides a perfect framework for the market and protects foreign buyers. This allows investors to conduct real estate transactions safely.
Where to invest in Portugal?
In Lisbon, the Portuguese capital and leading tourist destination, the price per square meter rises on average to 4,000 euros for a brand new property and to 2,000 euros for resale. Investments in the capital is the safest on a medium to long-term basis ... Some have said that the rate of return reaches to 25% per year!
The prestigious properties in Lisbon are numerous. For example, an apartment in Lisbon, with a size of 200 m2 in a modern duplex condominium with a terrace, pool, and sea views is for sale for a price of 1,400,000 euros. An apartment for sale in Lisbon with 4 bedrooms, a terrace, and concierge is for sale at a price of 1,800,000 euros. A charming luxury house, 850 m2 in size, located in the heart of Lisbon’s city-center, with a swimming pool and garden, sells for 5 million euros. Lastly, a 300-m2 house with a swimming pool in the Comporta district sells for 2,200,000 euros.
Tourism is very developed in the Portugal's southern Algarve region, attracting many retirees who come to enjoy its sun and peaceful way of life. Algarve has several seaside towns such as Faro, Albufeira, Portimão, Lagos that are easily accessible thanks to the Faro International Airport.
The price per square meter in October 2016, averaged at 1,700 euros for an apartment and 2,000 euros for a house in Albufeira. And for a renovated property, it’s an average of 2,500 euros per square meter.
A house in Albufeira with sea view, terrace, and pool is for sale at a price of 219, 000 euros. A 145-m2 apartment in Algarve near all amenities and the beach sells for around 625,000 euros.
Now you understand, Portugal's unique circumstance makes it an ideal place to invest!
In order to help your project come to life, the BARNES Portugal agency’s mission is to identify and select the most prestigious properties in Portugal, in additiothe most exclusive and the best business opportunities in Lisbon.
Located in a privileged location in the heart of Lisbon, close to the Teatro Nacional de São Carlos, our agency offers you a tailored and highly qualified service to show you the most exclusive real estate opportunities in the Portuguese real estate market. Contact our agency.
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