The city of Porto is among the best places in the world to consider to live, visit and invest gathered in the Global Luxury Landscape 2021. "Porto is a city on the rise, which appeals to those looking for a relaxed and unpretentious place to live and where there is still much to develop," said Andrés Jennings of Berkshire Hathway HomeServices (BHHS), the real estate network of multi-millionaire Warren Buffett that developed the study.
Porto has received several distinctions in recent years. This year it was elected the 9th best city in the world by Time Out's index. And it was considered the 2nd best city in Europe by the readers of Condé Nast magazine, in the 34th edition of the Readers' Choice Awards. Furthermore, it should be noted that the city's historic centre was declared a World Heritage Site by UNESCO.
Analysing the trends in the real estate and luxury markets in the four corners of the world, the BHHS put together a list of 14 places not to be missed in 2022. And in this list is Baixa do Porto, along with other regions such as Colli Piacentini in Italy, Puerto Cancun in Mexico and Virginia Beach in the USA, they said in a statement.
But what makes Porto special? According to the 2021 Global Luxury Landscape study, "Baixa do Porto and Cedofeita areas offer a setting of bars, restaurants and art galleries, as well as palaces and palaces that were built by nobility in the 19th century, which have attracted foreign investment, particularly from markets such as the United States and Israel", reads the publication. These buildings are now being rehabilitated and converted into houses and flats.
These areas of the city Invicta that are chosen to live, but also to visit. "Baixa and Cedofeita had a price increase of 10% compared to 2014, the year from which Porto began to see increasing levels of tourism," said Andrés Jennings quoted in the document. As far as tourism is concerned, "the city of Porto is an unavoidable destination and one of Portugal's stars," believes Pedro Trezentos, head of operations at BHHS Atlantic Portugal.
And it's not only among tourists that the city has made a splash, as real estate investment has also climbed in recent years. "Today, with an offer of high quality commercial and residential assets - able to satisfy the needs of the most demanding national and international investors - Porto has been consolidating its position in the real estate market and is now the first choice of many investors in Portugal," explains Pedro Trezentos.
Combining modernity and tradition, Porto is known today for the "authenticity and hospitality of its people, and has to offer an architectural, artistic, cultural, historical and gastronomic wealth without parallel," he also underlined.
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