Recently, according to data from an analysis of property prices published in the October issue of the Portuguese magazine "Confidencial Imobiliário," after a "dark period" lasting seven years, property prices have begun to recover, and the real estate market has finally ushered in spring. At the same time, the data also shows that after hitting rock bottom, Portuguese property prices only began to recover in the second half of 2013.
Since the economic crisis broke out in 2007, cumulative property prices have fallen by approximately 20.3%. However, last year, the situation saw a major reversal. The magazine's editor-in-chief, Ricardo Guimarães, explained: "The turning point occurred in the third quarter of 2013, and since then, property prices have risen by 2.6%. The increase in Lisbon's property prices is even more prominent, reaching 5.5%." Currently, the average house price in Lisbon is higher than in Porto. For example, in the first quarter of 2014, the price of a two-bedroom apartment in Lisbon was 66% higher than in Porto, and even more dramatically, the price of a three-bedroom apartment was 81% higher than in Porto. The price of a three-bedroom apartment in Lisbon was 1,874 euros per square meter, while in Porto it was 1,079 euros per square meter.
The rise in property prices is influenced by many factors. For instance, in the capital city of Lisbon, international investors, such as Golden Residence Permit holders, have driven up property prices. On the other hand, from a global market perspective, the economic situation is improving, and the decline in the unemployment rate has also reduced the pressure for austerity policies. Finally, Mr. Ricardo Guimarães added, "Property prices are rising, but this does not mean that transaction volumes are falling; on the contrary, transaction volumes are also rising accordingly."
As Portuguese property prices recover, real estate in Lisbon is becoming a hot commodity. For those interested in investment immigration, this is an excellent opportunity to enter the market. Worldway is the only Chinese immigration agency with an independent office in Portugal. Its Portuguese branch is located on the prosperous Avenida da Liberdade in the heart of Lisbon, aiming to provide clients with comprehensive services including property investment immigration consulting, inspection trips to Portugal, immigration application submission, post-purchase property management, property maintenance, and tax representation. To date, Worldway has successfully assisted hundreds of Chinese investors in completing their investments in Portugal and obtaining immigration status. The domestic immigration headquarters works in close cooperation with the overseas European customer service team to continuously expand the scope and influence of Worldway's European investment immigration business.
For more information on Portuguese immigration, please call: 400-138-2929
