Since the confinement period, due to Covid-19, demand for luxury properties has been changing. Families and investors are now looking, above all, for houses and farms outside the city centre, especially on the Cascais, Sintra and Alentejo Lines. Within large cities, such as Lisbon, demand is now centred on penthouses and apartments with large terraces and close to green areas.
There is a variation in the demand for properties, compared to the recent past. The tendency, at this moment, is for the growing demand for luxury properties outside large urban centres, with prevalence in areas such as the Cascais line, Sintra, Herdade da Aroeira and also properties in the Alentejo.
Houses, farms and estates are in the sights, whether of investors or of families who seek to avoid large centres. Demand within large cities, such as Lisbon, focuses on penthouses and apartments with large terraces and close to green areas. The properties that were allocated to tourism, such as local accommodation, are being placed on the buy/sell and ‘long term rental’ market with great success.
If the Portuguese Government, contrary to what it intended to do, acts to defend not only the real estate market but also the country’s finances, the Golden Visa and tax benefits for non-habitual residents must be maintained, and if access is processed in a faster and more transparent way, we may be able to face the uncertainty that may come in the future.
Relieving the huge tax burden for companies by the Government would be a priority measure. It would benefit investment, create jobs and more distributed wealth, which would generate a stronger and more dynamic economy, capable of facing future crises such as the one we have been experiencing.
In a recent interview with Pontos de Vista Magazine, David Poston, Portugal Homes’ founder and CEO stated that:
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