CONTINUOUS REAL ESTATE GROWTH IN PORTUGAL

CONTINUOUS REAL ESTATE GROWTH IN PORTUGAL
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Published: 20th June 2018, 4:10pm

After almost a decade during which the value of real estate in Portugal stagnated at best, comes news that house prices have recorded their biggest increase in 26 years. 

Latest numbers out this week show that the cost of buying a house in Portugal has risen by 14.2 percent in the space of just one year. 

According to the Residential Price Index, published by Confidential Imobiliário this increase recorded during the first quarter of the year, is the biggest since 1992.  

The cost of housing has now climbed for 11 consecutive quarters, with urban areas seeing the biggest rises. This latest increase also brings the average price of properties to above the highs recorded in 2007, shortly before the financial crisis.

According to the Bank of Portugal, overall foreign investment in real estate in the country in 2017 represented 80 percent of all transactions. Foreign buyers, encouraged by the Golden Visa rule and the non-habitual residence programme, have been buying up properties across the country.

With increased tourism again across the main regions of Porto, Lisbon and the Algarve Portugal is becoming the go-to destination for many Europeans with an average 15% increase month on month for over a year, there seems to be no end to how popular the country is becoming as a holiday destination. 

With increased rents for locals and the property market increasing substantially its becoming difficult for locals to find affordable housing, the Left Bloc of whom the socialists government rely on to stay in power are currently calling for an end to the Golden Visa and Non-Habitual Residents programmes. 

With this in mind the government has introduced a scheme for middle-class citizens to get a guaranteed rent in the major cities that only increase with inflation over the next 30 years, however, they are relying on investors to take up the option of buying the buildings from the government and freeing them up for the middle class.

Its a smart move from the Socialist Government who benefit hugely in property taxes from both the GV and NHR, its impossible for the Portuguese economy to keep recovering without this investment into the country and this move to protect the middle class should buy them a few more years of both programmes.

In the short term I don’t think there is any reason to panic however if you are thinking of taking up the option of either programme my advice would be to do it sooner rather than later, with government elections in the 3rd quarter of 2019 they may start to add some restrictions to either or both programmes as they compete for re-election, although any party that’s elected will find it difficult to give up hundreds of millions in taxes each year.


David Poston
Managing Director
Portugal Homes

Phone: +351 213 471 603

Email: info@portugalhomes.com 

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Comprar uma propriedade em Portugall

A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.

Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!

Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.

É fantástico como o Ryan tinha um conhecimento completo sobre Lisboa e nos tratou da melhor maneira.

Akbar Ali - Investidor do Paquistão

Ryan é muito profissional, mas também amigável e conhecedor do mercado Golden Visa. Também se mostrou flexível, pois, com um curto aviso prévio, viajou do Algarve para me se reunir comigo em Lisboa e substituir 1 colega.

Investir do Reino Unido

A Portugal Homes fez um excelente trabalho mantendo-me atualizado sobre o progresso da compra da minha nova casa, fornecendo relatórios regulares e abrangentes. Isto ajudou-me a aliviar a ansiedade sobre a compra de uma casa durante a pandemia.

Investidor dos EUA

Embora através do Zoom, estabelecemos uma grande confiança na integridade do George. [Foi] importante para nós ter confiança na capacidade do staff em se sentir alinhados em visões.

Donald Collie de Austrália

O processo foi bastante rápido e claro. Obtive toda a informação que precisava na primeira hora de conversa. A experiência foi perfeita.

Tomoko Inoue do Japão

Overwhelming. Luisa has exceeded our expectations on all levels. Trust was established immediately. Enhanced by super friendly professionalism. The networks to banks, accountants, lawyers was seamless. there is not enough space here to write all the positives, enough to say we are making an offer and we only arrived 4 days ago. Its impossible to improve from perfection!

John Mulroe and Wiebke Bock