Not only is Porto in fashion, it's on the radar. Whose radar? That of investors and international markets. That's not all: "Porto is positioned as an attractive area for large real estate transactions," says Juan Magalhaes, CEO of Predibisa, a real estate consulting firm specializing in northern Portugal.
The real estate market is boiling and the numbers are revealing. The consulting firm Predibisa grew by 50% last year, closing transactions with a total value of 150 million euro. Of all the business areas, the residential area stands out, which is intrinsically linked to the development and urban regeneration of the bay of Porto, which registered significant growth between 2016 and 2017 (125%).
The residential sector is the one that registered the highest growth in the last year. However, "transactions were also closed with investment clients looking for income in the restaurant, retail, office, hotel and catering sectors, but particularly in the short term," the company points out in a press release. "This dynamic was due in large part to the increase in tourism and the promotion of Local Accommodation (Alojamento Local or AL)," he adds.
"Porto, with a very attractive area for large real estate transactions, is increasingly on the radar of the international market. The appearance of real estate products, in line with the quality of the offer, explains this reality," explains João Magalhães.
Throughout 2017, Predibisa added important businesses to its portfolio. Among them are the commercialisation of residential developments such as the Leica building located in Rua Sá da Bandeira, the Flores 77 project in Rua das Flores, the Palácio dos Príncipes in Cedofeita and the Starbucks in Rua Mouzinho da Silveira.
"We believe that 2018 will be an exciting year, as we see a lot of interest in investing in Porto. The transactions that have already been made and those that we already have in our portfolio are proof of this," he says. "It is clear that Porto is attractive to investors, since it is not just a matter of being fashionable. More and more multinational companies are choosing the city to establish themselves in rather than other European cities," concludes the Director General of Predibisa.
Portugal's new Prime Minister plans to scrap “bad housing measures”
The Portuguese government has confirmed that it will revoke the measures of the country's Mais Habitação (More Housing) programme that it considers "wrong", including forced rentals, rent freezes and "penalising measures" for local accommodation.
Property for sale at auction in Portugal
Property auctions in Portugal, like in many other countries, are a method of buying and selling real estate through a competitive bidding process. These auctions can involve a variety of properties, including residential homes, commercial buildings, land, and even distressed properties such as foreclosures or bank-owned assets.
Shortage of properties in Portugal causes house prices to soar by 10%
Portugal continues to be an attractive country to live in, as well as invest in, despite the uncertain economic and political context. But the lack of homes for sale is a structural problem with no end in sight, as new home construction is not keeping up with demand in the country. This is precisely where the housing crisis in Portugal lies: even with house sales falling 25% in 2023, prices increased by more than 10%, reflecting the scarcity of properties, reveals a study by multibillionaire War
Where did foreigners buy the most houses in Portugal in 2023?
Last year, all Portuguese regions saw an increase in the contribution of foreign buyers to house purchases, both in terms of the number and value of their total housing sales. But one region stood out in terms of investment by buyers with tax residency outside Portugal: the Algarve.
The best property for sale in Madeira and the Azores
If life on an island sounds like your idea of paradise, come with us to discover the often-underrated Portuguese islands of Madeira and the Azores. Both Madeira and the Azores are picturesque archipelagos known for their stunning landscapes, mild climates, and unique cultures. As for properties for sale in these regions, a flourishing real estate market presents excellent opportunities for investing in a holiday home or even for long-term residency. On top of this, Madeira is making a
Portugal's first 3D printed house
Could 3D printing be the future for housing? Today we're taking a look at what will be the first Portuguese house "built" using a 3D printer in Portela da Villa, in Torres Vedras. It will be built by Litehaus.
Property for sale in Portugal with gardens
Portugal offers a diverse range of properties for sale with gardens, catering to various preferences and budgets. Portugal is renowned for its stunning villas and quintas (country estates), many of which feature expansive gardens. These properties often offer a combination of privacy, space, and natural beauty. For those who don't have a luxury budget, in cities and towns across Portugal, you can find charming townhouses with small gardens or courtyards, and even swimming pools on some occasions