PORTUGAL REAL ESTATE – PRICES SKYROCKET AMID PANDEMIC

Portugal real estate. Portugal is a member country of the Eurozone which has witnessed a continuous increase in its real estate market since 2010. Regardless of the many devastating impacts brought by the Covid-19 pandemic which posing financial challenges all around the world, Portugal’s real estate sector is progressing towards the opposite pattern. 

An overview of Portugal’s real estate market 2020

It is fair to say that Portugal’s real estate market has “super-immunity” against Covid-19. Reports on pandemics and its devastating impacts on economy and social life are ubiquitous during the past couple of years, therefore, one might be surprised to learn that still there are things still thriving amid the pandemic. One of them is Portugal’s real estate market, which not only holds powerful resistance against Covid-19 but also sees a significant rise by 5,9%. 

More interestingly, in 2020, Portugal’s prices rise experienced an increase of 1,6% in the first quarter which followed by another growth of 0,5% in the next quarter. As for the third quarter, the figure remained unchanged at the point of 1% and then thrived by 2,7% in the last quarter. 

Portugal’s average house price in 2020: 

• Average house price in Lisbon: 3.017 EUR/m²
• Average house price in Porto: 2.949 EUR/m²
• Average house price in Northern region: 1.834 EUR/m²
• Average house price in Algarve: 2.368 EUR/m²

Trends that will shape Portugal’s future real estate market

By and large, house price rate in cities of Portugal appears to be increasing. The number of properties for sale has risen by 87,8%. The figure for property providers registers a twofold increase which rises by 101,1% compared with the same period last year. The current situation promises to bring in enormous commercial profits just within a short period of investment. This can be of great news for those who have and have not invested in properties in Portugal. 

As stated by theportugalnews.com, in the first quarter of 2021: 

• Number of properties for sale in Portugal rises 88% compared with the same period last year;
• Property for rent rises by 100% compared with last year;
• Lisbon continues to top the chart in terms of property value, with the average selling price is 353.000 EUR;
• This is the golden time for investors to grab the chance of owning a high class property in Portugal and getting European citizenship status for their entire family.

For further information about European citizens’ benefits, click HERE 

Investing in real estate – get the settled status in Portugal 

For the time being, Portugal continues to attract a great number of people buying properties in its country via the Golden Visa Program. Whereby, investors and their family members are entitled to receiving the Golden Visa for Portugal permanent residence. After the waiting period of five years, the Golden Visa holders are eligible to apply for Portuguese citizenship as well as European citizenship.  

Requirements for Portugal’s Golden Visa program. 

Investing in real estate

• New property with the value of 500.000 EUR at minimum;
• Properties must be constructed more than 30 years ago or located in urban regeneration areas: investing at least 350.000 EUR in the class – 1 urbans and at least 280.000 EUR in other areas;

Investing in investment funds, at least: 

• 500.000 EUR for the acquisitions of units of investment funds or venture capital fund;
• 250.000 EUR into Portuguese cultural heritage;
• 350.000 EUR into research activities;
• 1.000.000 EUR into capital transfer into Portuguese bank;

Since January 1st 2022, these investment options will not be applied in Lisbon and Porto. Investors who keen to invest in these two major cities have to make a decision as soon as possible. 

Potential real estate projects in Portugal 

Portico & Bridge is a corporation renowned for its seniority and reputation in the field of immigration. We are also pleased to have long-term partnership with Mercan – the investor of Marriot Lapa Renaissance Hotel. Our qualified service is always ready and willing to provide investors the most potential and reliable projects: 

Project information: 

The serviced apartment-hotel project Porto Art Suites is a product by Mercan Corporation. Together with its sister brand Porto Art Hotel, they are combined into a collection of “Porto Art Selection” that caters travellers to Portugal. Porto Art Suites is located at the historic centre of Porto city. 

Project details:

• Total project cost: 7,7 million EUR;
• Investment amount: 356.900 EUR
• Total apartment: 24
• Call for: 21 investors 

Why Mercan Group’s projects?

Reasons why you should chose Porto Art Suites: 

• Obtain freehold asset when purchasing the propert;
• Can sell at market price after 5 years – 100% return on investment;
• Expected annual income between 5 – 7%. 
• Occupancy rate of hotels in Porto is 77%
• Mercan Group commits to be the most reliable and transparent partner;
• Complimentary 7 nights stay at Porto Art Suites per year for investors and families;
• This project is qualified for Golden Visa program, enabling investors and their family members to obtain permanent residence permit on their application for the Portugal residence program via Golden Visa with a waiting period of 12-18 months;
• Residence permit holders are entitled to these following benefits: receive Portuguese citizenship status after 5 years if they meet all eligibilities, only have to be physically presenting in Portugal 7 days per year, enjoy the tuition-free education programs for your children, travel freely within 26 countries of the Schengen zone. 

Why should you choose Portico & Bridge to invest with? 

• We have leading experts of international real estate 

Currently, Portico & Bridge is the ONLY company in Vietnam having an immigration expert who is a Maltese citizen. Sir Trafford Busuttil – Portico & Bridge’s CEO is an experienced expert of immigration, settlement and international real estate. He has had a history of living and working in various countries all over the world, which makes him an irreplaceable asset of Portico & Bridge. Under Sir Trafford’s consultation and supervision, we are confident in being your most reliable partner on your every investment projects. 

• We have reputable staff attorneys and partners

Apart from Sir Trafford, we are pleased to be supported by experienced experts from Europe. Dr. Michaela Millo is certified by Residence Malta Agency with the AKM license whose number is AKM-MILLO-2. Dr. Michaela has been acting as a professional lawyer providing legal advice towards settlement applicants for many years. 

Besides, Portico & Bridge has an extensive network including reputable partners all over the world. We commit to providing our investors safe, quality and profitable projects. 

Conclusion – Portugal real estate 

To learn more about other potential real estate projects in Portugal, contact us right away to receive our down-to-details consultation. Our team of over 50 experts all over the world is ready and willing support you.

Call us at 0909.898.758

At PORTICO & BRIDGE, “Your Children, We Care”.