Last year Lisbon was seen as one of the top six cities in Europe in which to invest, but most of the best property deals have now been snapped up and the next trendy place to invest in Portugal is Porto, where house prices are still 30% less than those in Lisbon.
Forbes also highlights the importance of Portugal’s Golden Visa programme in attracting overseas property investment.
Since being declared a World Heritage Site just over a decade ago, Porto has seen a sharp increase in direct foreign investment (FDI). A trend which is set to continue.
Porto has 301 foreign multinational companies and 872 corporates in the city’s Metropolitan Area alone with an increasing number of large corporations across various industry sectors investing in real estate developments.
Some of the well-known international brands that have chosen to set up business units in Porto over the years include Adidas, Microsoft, IBM and Bosch.
“Porto appears to be the destination with the greatest number of new investments and jobs created,” Ernst and Young stated in its 2017 Attractiveness Survey on Portugal.
According to InvestPorto, an initiative established by the Porto City Council in 2015 to support foreign investment attraction, Porto saw an impressive 154 investment projects. Of these, 75 were international, attracting over €400 million of investment and creating more than 11 000 jobs.
Portugal’s second capital is also experiencing a sharp and steady uptick in the number of entrepreneurial ventures and start-ups. Currently, new companies in the technological field are the biggest entrants into Porto, accounting for 36% of total national investments.
The manufacturing and distribution of textiles, footwear, machinery, pottery and electrical goods, as well as the production of medical devices, pharmaceutical, biochemistry and biotechnology goods also contribute to Porto’s vibrant economy. Although Port wine continues to be Porto’s biggest export product, there are other attractive investment opportunities include the agri-food, tourism, health, biotech and real estate sectors.
Property prices in Porto are now at the point Lisbon’s were five years ago with investors (individuals and corporates) looking to diversify their portfolios with investments offering higher yields, long leases and excellent capital growth.
In urban development, the new transport interchange Intermodal Terminal Campanhã (ITC) started in 2018 and the €6.36 million the bus terminal project “hidden” by a new urban, green park that will link the eastern part of Porto with the railway station are two key projects.
With its booming economy, rich cultural legacy; safe, affordable and vibrant lifestyle, it is not surprising that Porto, recently voted Best European Destination for the third time, should be high up on the Forbes’ best place to invest in Europe list.
About Portugal Homes
PortugalHomes.com specializes in investments through Real Estate and Golden Visa. We help buyers find the right property overseas, whether it be for Golden Visa, NHR, Investment or simply a place in the sun. Our properties are selected with great thought in mind to give our clients the best opportunities. We offer the complete service from introducing them to the Legal Representatives, Currency Exchange, Mortgage Advisors, Property Management, Rental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario. Portugal Homes provides the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.
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!
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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