Buying Property In Portugal: Location, location, location…
If you’re thinking of buying a property in Portugal, the price you pay will be influenced significantly by the location.
The capital; Lisbon, and the Algarve coastal areas are the most popular places for expats looking to settle in Portugal. Prices are fairly similar in these two areas, but as large apartments are at a premium in the capital city, these tend to be more expensive than along the coast.
Each region is unique and offers different advantages. It is best to first consider your motivations for purchasing. Ask yourself is it for investment or commercial purposes or for permanent living. Property in Lisbon has seen a sharp increase, so buying there is now quite expensive compared other parts of the country. The Algarve attracts lots of expats from retirees to second homeowners to holiday rental investors. It is one of the most popular holiday destinations in Portugal, known for its sunshine, stunning coastline, fresh seafood, top class golfing and innate natural beauty. If you would like to know more, take a look at the property listings we have for the Algarve. There are many English-speaking homeowners in this part of Portugal who own properties such as holiday homes, villas and beach houses.
Porto is one of the oldest European centres and also a bustling commercial city with a rich historical and cultural heritage. It is a popular tourist destination within Portugal and home of the famous Port Wine. In terms of property, Porto offers good bargains in many of its districts, such as like as Ribeira, Foz do Douro, Vila Nova de Gaia and Vila do Conde. If you would like to know more, take a look at our listings for Lisbon’s sister city, Porto
Cascais has seen a great influx of Europeans as well as non-EU nationals buying property, as it is a popular alternative to buying a property in Lisbon.
Of course, where there are winners, there are also losers, and some towns showed much lower growth. Guimaraes (0.9%) and Coimbra both came in with price growth under 1% but therefore offer some less expensive purchasing options. It does show it pays to choose your location location location wisely!