To buy or to rent, that is the question. The answer to this question is in line with an existing reality in Portugal, as people in Portugal prefer to be owners of their properties rather than tenants. In 2016, 75.2% of the real estate market was made up of homeowners, according to data from Eurostat. High rental prices and the prospect of investment tend to shift the balance towards purchase rather than long-term rentals.
According to Jornal de Negócios, a Portuguese financial news portal, which relies on the results of a survey by Aximage, 54.7% of those surveyed conducted in 600 telephone interviews recommended buying a house, while 42.1% suggested they would rather rent their home.
The rationale for preferring acquisition over renting is mainly due to the fact that, in the end, the house belongs to you: 23.7% of the respondents who opted for the purchase option gave the justification “by buying, we pay more, but in the end the house is ours”. The second reason most often given by those who chose to own their own homes is that rents are very high in Portugal.
While the results of this poll are useful for understanding the state of the Portuguese real estate market, when you come to think about whether you prefer to buy or rent in Portugal, the cost-effectiveness depends on your personal circumstances.
As far as the respondents to the questionnaire who preferred the rental market are concerned, 8.6% argue that homeownership has too many costs.
Another interesting conclusion from the survey is that the majority of the participants (58.1%) preferred, if they were owners of a property, to let it out, whereas only 35% of respondents would choose to sell the house.
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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!
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Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!Investor from the USA
Very helpful. Work with his heart. Mark is a very nice advisor.Investor from Morocco
Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.Investor from the USA
The overall experience was great from follow up to After Sales. I would like to give special thanks to Mr. Simon, Ms. Francisca and Ms. Mariana.Investor from UAE
George Hobson is a pleasant young man, came across as knowledgeable, experienced, hardworking, honest & disciplined; I felt very comfortable in easily making my investment.Investor from UAE
Luísa is a very understandable person, she knew exactly what we were looking for and even showed us and gave us more choices to pick from. Very professional advice, hospitality and service.Roshana (Zulfiqar) Mian | Hong Kong