Where do the rich live in Portugal? Lisbon, Oeiras, Cascais, Sintra, Porto and Vila Nova de Gaia are the municipalities with the highest concentration of population with the highest income in the country.
The property market in Portugal and on a larger scale has already proved its resilience, first in the pandemic crisis and now in the context of inflation marked by the war in Ukraine.
Portugal is home to a new 4 star eco-resort consisting of 55 villas and apartments with 1 to 3 bedrooms (T1 to T3). The White Shell is located in Porches, in the Algarve, and is a project by Vanguard Properties with an investment of 24 million euros.
Buying a second home in Portugal is an option for many foreigners, either to live, to spend the holidays, or even to do business such as renting out an apartment and using it as Local Accommodation.
Renting a home has been getting more expensive in Portugal since at least 2017. In a context of supply pressure and a shortage of property for rent in Portugal, the value of rents has not stopped rising in the last five years and reached 6.25 euros per square metre (euros/m2) in the last 12 months.
From time to time, we like to open the doors of a dream home in Portugal, and today we are travelling to the Azores to discover a luxury villa project.