According to the latest data released by the real estate platform Idealista on April 4, property prices in Portugal increased by 6.8% year-on-year in 2017, with an average price of 1,442 euros per square meter. Almost all regions in Portugal are showing an upward trend in property prices.
Lisbon Leads Portugal in Property Price Growth, Market Continues to Improve
In the data, the Lisbon region saw the highest growth in property prices, with an increase of 10.1% compared to the same period last year, followed by Madeira (7%) and the Algarve (6.7%). The growth rate in the North was 5.1%, and 2.8% in the Central region.
Regarding prices, the Greater Lisbon area remains the most expensive in the country, with an average price of 1,959 euros per square meter, while the average price in Lisbon city is 2,285 euros per square meter, followed by the Algarve (1,554 euros per square meter) and Madeira (1,173 euros per square meter).
It is worth noting that, according to reports from the *Diário de Notícias*, a trial run of a "water taxi" service on the Tagus River will be launched in Lisbon this summer, which is expected to connect the water route between Cais do Sodré and Almada. Importantly, this is not only a new mode of transport for the people of Lisbon, but also a new opportunity to attract a large number of new tourists to the city, thereby driving a continuous rise in short-term property rentals.
Now Is the Golden Period for Property Investment Immigration to Portugal
With the economic recovery in Europe, the entire European real estate market is gradually warming up and entering a period of rapid growth. Property prices and rents in Portugal are rising together, and the future trend remains strong, making it a great time for investors to enter the market at the bottom.
In the rental market, demand in several major Portuguese cities has also maintained a growth trend. Rental prices for housing in major Portuguese cities have seen 18 consecutive months of growth. For example, in Lisbon, Portugal, the average rent for a full apartment is 1,201 euros/month; while in Porto, the average rent for a full apartment is about 1,185 euros/month.
The vitality of the entire Portuguese real estate market is not only due to the country's economic recovery but is also stimulated by the Portugal Golden Residence Permit policy. Since the implementation of the "Golden Residence Permit" policy in 2012, its speed, security, simplicity, and high cost-effectiveness have been key factors in attracting investors. Investors only need to purchase 500,000 euros worth of residential or agricultural property in Portugal to obtain Golden Residence status for the whole family in one go, enjoying the same medical and educational benefits as Portuguese citizens. Their children can also enjoy most-favored-nation treatment in the EU when applying to universities across EU countries. Good economic growth + a conscientious investment environment make the future potential of property investment in Portugal immeasurable. Now is the best time to invest in Portugal; those interested should act early. For more immigration information, please call: 400-138-2929.