Orama Estates LLC and Portuguese real estate perspectives.
Orama Estates LLC experts denote growing real estate prices in Portugal despite current events. Numbers are surprisingly promising and may be worth attention.
Despite the expected decline of worldwide property prices due to the coronavirus epidemic, prices in Portugal have continued to rise. In 2021, the average price increased by 12% throughout the country, with Lisbon and Faro having the highest price per square meter.
The reason for this trend can be attributed to the growing interest in buying real estate in Portugal from international investors in recent years. Portugal's milder climate, high standard of living, safety, and the hospitable attitude of the Portuguese towards foreigners make it a more attractive option for year-round living compared to its more popular neighbor, Spain.
In 2020, real estate in Portugal rose in price by an average of 10%, with expensive and prestigious apartments in Porto seeing an average increase of 20% and starting at 300,000 euros per unit. The average cost per square meter for apartments in Portugal is 1,400 euros ($1,650), while houses cost 1,160 euros ($1,370), which is significantly lower than many other EU countries.
Despite the pandemic and turbulence in the global economy, the Portuguese real estate market is actively developing, with British, French, Brazilians, and Americans actively purchasing properties. To learn more about existing investment plans and how European markets can benefit you, please visit our homepage.
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