portugal property

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Positive News for Portugal Real Estate Market

Prices Rising in PortugalThe latest RICS Portuguese housing market survey shows positive news. Developers are seeing rising prices in Lisbon. This is perhaps helped by the influx of international buyers in the capital chasing property above €500,000 in order to obtain the golden visa.

New buyer enquiries increased for the 11th consecutive month. It follows recent news from Deloitte in its Property Index Report that revealed Portugal to be one of the most affordable residential markets in Europe along with Germany and Denmark as the top three top destinations.

Despite the positive news prices of property in Portugal remain well below their peak leading to a potential opportunity for today’s international investor seeking the residency visa.

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Lisbon Property Prices Lower Than Most Major European Cities

Prices for residential real estate in Lisbon are lower than most major European cities. Figures presented at Portugal’s 10th Property Conference held at the Jumeirah Carlton Tower Hotel in London last week showed Lisbon to be one of the most affordable cities for property investment. With an average price of €2600 per m2 Lisbon was lower than Barcelona (€4700 per m2) and Madrid (€5200 per m2). London toped the list with an average price of €21,800 per m2 more than 8 times that of Portugal’s capital city. There were 3500 foreign buyers of property in Portugal during the first quarter, many of them encouraged by the residency visas now on offer for purchases above €500,000.