The drop in interest rates will attract Britons and Irish, particularly retirees, to invest in property in Portugal, according to Ricardo Costa, founder and CEO of LUXIMOS Christie’s. According to the economist, “these investors can benefit not only from a lower cost of living but also from tax incentives and the pleasant climate the country offers.”
“Portugal has long been considered an attractive real estate market, and with the reduction in interest rates, our country could become even more competitive for international investors, including Britons and Irish, even though the vast majority of our clients do not rely on bank loans,” the executive said in a statement.
The CEO of the real estate company also highlighted that, in a context of lower interest rates, property investment stands out as a solid alternative. “Investing in real estate is a safe option, especially in a country with strong tourism popularity and ongoing appreciation of property values,” he adds.
With this in mind, LUXIMOS Christie’s will return to the UK from 20 to 22 September, and to Ireland from 4 to 6 October, to participate in the ‘A Place in The Sun’ property fairs. The events, which will take place in Birmingham and Dublin, are dedicated to investors seeking opportunities to acquire property abroad.
During the fairs, LUXIMOS will present “a selection of luxury properties, strengthening its international presence in the real estate sector and attracting potential clients interested in investing overseas,” it continues.
