The Portuguese property market is often considered a safe haven for foreign investors. The current climate might attract even more foreign investment than ever to the country, with the drop of major currencies.
Georg Chmiel, executive chairman of Juwai IQI, says that “In almost every market where Hong Kong buyers are significantly active, they can buy property for much cheaper now than just a couple of weeks ago. (...) The economic fallout is pushing other currencies down as investors fled to the safety of the US dollar.”
According to Bloomberg Market numbers, the dollar was appreciated by between 4.7% and 15.5% this year against top major currencies, like the British pound (£), Canadian dollar, Australian dollar, Euro (€), and Singapore dollar. Many are, therefore, looking to emigrate from the city, but also in hopes to escape the ongoing political and social turmoil since 2019.
Ever since the Fed made its first cut on March 3, South Korea, Australia, and the UK also had their benchmark rates lowered so they could sustain their economies.
According to collected data, since the outbreak, the main cities of attraction have been Lisbon, London, and Sydney.
Considering the current situation and uncertainty, foreign investors must take a medium-term view of 3 to 5 years, instead of short-term gains. In fact, queries about foreign investment have risen significantly, compared to the previous year, being Australia the most sought after country, as the currency offers “a golden chance for those who want to leave to buy a home or make an investment”, said Tina Cheng, director of the strategy at Midland Consultancy.
Portugal’s capital, Lisbon, is a trendy hotspot when it comes to foreign investment. Having been considered Europe’s hottest real estate market, more and more foreigners are flocking into the country for a quality lifestyle and advantageous tax and citizenship benefits.
Despite facing turbulent times, our teams at Portugal Homes are still working and closing deals over the phone, showing and selling property through videos, using every digital touchpoint to help our avid investors, as well as, bringing liquidity to many developers and private vendors in Portugal’s core cities.
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
Extremely helpful and professional. A pleasure to meet you!Li Sze Ki and Man Chi Ning from Hong Kong
Ryan is fantastic. Very helpful, nice and professional. He provides swift responses to me whenever I raise him a question.Rubby Lee from Hong Kong
Thank you. Lovely experience with all of the staff. George was very helpful, knowledgeable and had a good grasp of the financials. Will recommend Portugal Homes to friends. Also excellent experience with the After Sales - very helpful.Nadia Webb
Very knowledgeable and professional, able to provide clear advice that meets my need such that I can make decision quickly. Efficient and energetic team.Tang Wing Yun from Hong Kong
Simon has been wonderful to work with. We did not feel pushed in any way.Andre & Lena Jourdan from USA
Portugal Homes is very customer-oriented. Mr. George Hobson epitomizes professionalism and dedication. This in addition to his amiable and congenial attitude.Saadeddine Taleb from Algeria