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Property in Portugal has taken off in the past couple of years as Portugal is one of the resurgent countries of Europe and has gained in popularity immensely due to the formation of European Union (EU). The country has a rich legacy of historically significant events and places, which adds to the intrigue among the visitors here. A large coastline offers a perfect destination for locals and visitors to enjoy the pleasant chimes of Portugal. Add to that a rich sporting tradition in the country! You won’t find a place as giving as Portugal in terms of establishing a second home or holiday home in Portugal.
What Makes Portugal a Hot Investment Destination?
To be precise, the major USP of Portugal is its sporting history and culture. Golf is a big hit in the country with hundreds of picturesque golf resorts dotting the country’s landscape. With tournaments organized all the year round, the country is always abuzz with golfing news and views.
Part of the success of golf in Portugal is also due to the fact that the country is largely seen as a great retirement destination. People with ample time on their hands indulge in leisure activities including golf, and the younger generation benefit by picking up the skills required to play the game from their seniors. Resultantly, Portugal attracts large-scale investment from golfing enthusiasts who are looking for an ideal outlet to satisfy their golfing enthusiasm.
Another sport that has become synonymous with Portugal is football. Portugal is home to the legendary footballer, Luis Figo, and every football enthusiast and aspiring player worships Figo and his skills all around the world. Europe is mad about football and a football crazy nation is always on the radar as far as investing in property is concerned.
Besides sports, Portugal is also a hot investment destination due to its long coastline full of pristine sandy beaches and the offering of a relaxed coastal lifestyle. The coastal towns boast of luxurious holiday homes and resorts, including the infamous golf resorts.
Weather is another major factor that prompts investors from UK and other colder northern countries to flock to Portugal. Thanks to its pleasant climate, Portugal is now the third favourite second-home destination for the British, after Spain and France.
Portugal is very well connected with regular flights to and from the capital city of Lisbon. Major airlines have increased the frequency of flights due to tremendous demand from frequent as well as potential property buyers.
Portugal is a modern country with a rich heritage. The warm and friendly people signify the importance to hospitality, so much valued by the Portuguese. Since Portugal had so many colonies all around the world, the people from these colonial countries make it a point to visit the country at least once in their lifetime. This is because the Portuguese are known to have left an indelible mark on the cultural heritage of these colonial countries, and people have a unique connection with the place, which ruled them in the not-so-distant past.
Hottest Investment Destinations in Portugal
When it comes to property investment hotspots in Portugal, the southern coastal region of the Algarve wins hands down. Though the capital Lisbon remains a much sought after destination due to its cosmopolitan culture, the availability of property here is diminishing with an upward pricing structure and demand for property outstripping the supply in most major Portuguese cities.
Again, Algarve also owes its popularity to the golf enthusiasts, as it is their efforts that have borne fruit in the form of the prestigious ‘golden triangle’ of luxurious golf resorts like - Quinta do Lago, Vale do Lobo and Vila Sol. This pampered region of Portugal attracts investors galore in the £1-million-plus villas’ segment. Many rich and famous have bought prime properties in the region, including the celebrity DJ Chris Evans who boasts of a £2-million property here. If you are a small investor, there are apartments available on the Algarve with prices ranging from £50,000 - £70,000.
The Silver Coast in Central Portugal is a fast emerging property destination and is alluring the property investor from all over Europe. Since it is an emerging tourist destination, it makes a lot of sense in investing here, as the prices have not yet reached their peak. Situated between Lisbon and Porto, the Silver Coast region (or Lisbon Coast, as it is popularly called) has some gorgeous beaches and unspoilt countryside, and the authorities here are drawing up elaborate plans to develop this part of Portugal into the next decade.
Portugal also has tremendous opportunities for the budding DIY investors looking for renovation properties to develop as holiday homes. The old towns of Obidos, Leiria and Coimbra offer some great bargains on renovation properties, where you can strike a deal from as little as £20,000. The luxurious villas in these historic towns can be yours for anywhere between £100,000 and £150,000.
Some of the other places worth exploring for property investment purposes include resorts like Nazare and Figueira da Foz, Sao Martinho do Porto beach, and the stretch of coast running north from Porto to the Spanish border, known as the Green Coast.
The time to invest in Portugal real estate property is now as prices have witnessed a sharp increase since 2000, and experts have predicated stiff competition among Portuguese investors in the near future, as demand will gradually outstrip the supply of land.
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