Real Estate Portugal
Portugal is currently experiencing a resurgence in tourism and immigration. When it comes to real estate Portugal property prices are relatively cheap compared to other places in Europe. While not exactly the lowest, Portuguese real estate could be a good investment either as a summer home, a flip or a tourist rental. Whatever the reason, Portugal is a culturally, historically rich and exotic country. Portuguese real estate goes for about 1,200 euros per square meter or 120,000 for a 100 square meter residence. Prices could go lower for island or rural areas. Beware however as those properties are mostly fixer-uppers.
Nevertheless, in real estate Portugal can be a wise investment thanks to the increased tourism (which could bounce back as soon as the world health crisis is over) as well as the dynamic Portuguese real estate market. It’s easy for foreigners to purchase properties as Portugal has little restrictions. The real-estate industry in the country is well-developed and many foreigners are already well-settled. As for settling, the country has a reasonable cost of living where a couple can live comfortably on a budget of 2,200 dollars a month.
Portugal’s Algarve region is currently popular for its low prices of about 700 to 1,000 euros per square meter and can sometimes go lower than 700. The region has many seaside properties available perfect for retreats, or tourist rentals. City dwellers meanwhile can settle in the Portuguese capital of Lisbon where properties can cost on average for 1700 euros per square meter, which is not bad compared to the urban prices of other European countries. Lucky buyers can get a good sized 100 square meter urban property for 200,000 euros. Prices aside, a good tip is to ask the agent if the area is being developed or gentrified.
For those who have an affinity with Portugal’s climate, culture and cuisine, of Portuguese descent or just looking for a wise European investment, purchase real estate Portugal is waiting.