Portugal is a small country, but extremely welcoming and abounding in natural beauty.
The people are receptive and always willing to help, and there are reasons linked to the reduction of bureaucracy and to the simplicity of the laws that stimulate the purchase of apartments or a property in Portugal.
An important consequence of the decline that occurred in Portugal was a notable fall in real estate prices. The price of some houses or apartments all over Portugal and in Lisbon are said to have fallen by around 25% to 30%.
However, we are currently in the throes of a recovery linked to a facilitation and indeed almost an invitation to foreigners (including the French, Italian, Chinese, Spanish and, of course, Brazilian and Angolan), proposing an investment in the indisputable beauty of Portugal, Lisbon or in the Algarve … but, especially, as it is cheaper than in many countries of the euro zone, the purchase of a second home or a veritable main residence in Portugal.
Why investment in real estate in Portugal
The real estate market in Lisbon has expanded over the last three years and there will certainly be a gradual increase during the next 3 to 5 years.
Renting out your own apartments in the short, medium or long term has never been so easy.
Rent from tourism increases every year by about 10%. Lisbon City Council, and similarly in other cities in Portugal, continues to invest in improving the city and making it more attractive for tourists.
The result: There are increasingly more tourists who want to visit Lisbon and discover the charms of this very attractive city. Tourists who received an excellent hotel service tend to come back, swelling the demand for apartments in Lisbon. While there is good growth in this market segment, it is still insufficient to satisfy the growing influx of tourists.
During the holiday periods throughout the year, Lisbon simply does not have sufficient housing to accommodate all the tourists who want to visit the city.
As for administrative steps, Portugal has made this much easier. Just declare your apartment as “Local Accommodation” and indicate your income from that property.
Concerning the tourist management of the apartment, there are many professional agencies that may be proposed to take care of everything for a percentage.
Investing in Portugal is now a minimal risk.
Lisbon, as a European capital, implies a safe investment, because there will always be people interested in renting or buying your property.
Nowadays, Portuguese laws are directed at being a real help to foreign investors.
Portuguese law is extremely clear on the purchase of property. The legal and administrative procedures are transparent in overall terms and similar to what may be found in Italy
Of course, it is always advisable to contract a lawyer to make sure that the necessary legal documents are signed when buying a house in Portugal, and even in Lisbon.
For further information on how to buy property in Portugal and if you want any interesting contacts (lawyer, real estate agency, tax adviser, etc.)
please contact us, without obligation, write to us asking for specific information for your particular case.