In the last decade property prices in Portugal have increased more than 16%, showing some of the highest growth rates in Europe behind the likes of Germany, Austria and Ireland. There is no doubt that this is largely to do with the Golden Visa programme and the surge of foreign investment it has attracted into the country.
Lisbon, the capital city of Portugal, has always been the most popular destination amongst foreign investors, closely followed by Porto. Recently named as one of the ”Best European Cities to Invest In For 2020” by Forbes, Porto is now proving itself as a strong alternative to Lisbon. The charming city of Porto, originally famous for its production of Port wine, has become one of Portugal’s most sought after touristic destinations, consequently attracting a large proportion of Golden Visa buyers looking for promising returns. Price per square metre is slightly lower in Porto, yet rental returns are comparable to Lisbon, making it an ideal location for investment.
Porto is also a UNESCO world heritage site and abundant with cultural landmarks, stunning architecture, gastronomy hot spots as well as all the usual amenities you would expect to find in any major city; such as shopping hubs, cafes, bars and transport links. The city has excellent transport connections with Lisbon, with a train journey of approximately 2.5 hours between the two cities. In recent years there has been substantial public investment in Porto which is improving the city’s infrastructure such as roads, universities, libraries and more. Porto is at a similar stage to where Lisbon was 5-6 years ago, meaning there is still an excellent opportunity for capital growth.
MUREAL has a number of turn-key real estate options in both Lisbon and Porto, all in prime locations, offering promising rental returns. Despite potential changes to the Golden Visa programme, which may take effect in 2021, there is still plenty of time to secure an investment in a major city which will qualify. To learn more about your options, please do not hesitate to contact our team.