The Algarve, Costa de Plata and more recently Lisbon: the domestic housing market is red-hot and more and more foreigners are investing in Portugal, a scenario that should continue in the near future, predicts Colm Wilkinson, regional manager of PortugalProperty.com Lisbon, in an interview with idea
Lisbon has definitely entered onto the radar of foreign investors, a scenario that is not just a passing trend, but seems to have come to stay. Colm Wilkinson, Regional Manager of Lisbon PortugalProperty.com, moved to Lisbon 13 years ago and says he is in love with the capital.
Too much demand and too little supply – it’s a scenario that continues to fuel the rise in the property prices. In the last year alone, prices have increased by 12.8%, the largest increase since 1992, according to data from Confidencial Imobiliário (Ci).
Interest rates for mortgages are relatively low right now, and it’s possible to can earn more than 7% each year if you invest in a property in Portugal.
The French are still top of the list for the nationality which invests the most in the Portuguese property market, making up 29% of the total. Even so, Brazilian investment keeps growing and already accounts for 19% of property purchases by non-Portuguese.