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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My property advisor, Mathew McGurn, was truly excellent! His knowledge, professionalism and attention to details was much appreciated. He worked hard to not only find a property that fit all my requirements, he negotiated successfully with agents making sure my offer won over other buyers bidding for the same property. In addition, his communication skills, prompt response time and general help with my getting settled in Portugal went above and beyond the normal.Investor from the USA
Dear Sérgio, thank you so much for arranging our 1º Esquerdo place. We love our place, and your attention to detail is very much appreciated.Tim Thronson - Investor from the USA
A full service, one stop opportunity. Very easy for us a foreigners. Ryan Dunn went above and beyond for us. We appreciate him and his work!Jose Arias - Investor from the USA
Everyone I met with and spoke with has been extremely knowledgeable and professional. Dealing with native English speakers who understand things from my perspective was very reassuring. Finally, knowing that I had Matthew in my corner gave me the confidence to proceed with the process of buying an apartment in Lisbon. Thanks very much.Investor from the USA
So far it has been great. Simon is very knowledgeable and friendly.Loay El Abiad - Investor from Saudi Arabia
It's fantastic how Ryan had complete knowledge regarding Lisbon and dealt with us in a great manner.Akbar Ali - Investor from Pakistan