The Land of Opportunities
Discover Porto's Real Estate
Situated along the coastlines of the River Douro, Porto is one of the oldest cities in Europe. Beautified by the ancient architecture and contemporary high-tech buildings, the properties in this city are sure to keep your mouth agape. The recent economic developments in Porto have made it more attractive for investors and young professionals. Porto has something to offer to everyone.
Culture, History, and Business
Also called Oporto in some languages, Porto is Portugal’s second-largest city and one of the major cities in the Iberian Peninsula. The city is occupied by over 2.4 million people. The area spans 2,935 square kilometers, which makes it the second-largest urban settlement in Porto, and it is the city in Portugal besides Lisbon to be identified as a global city. The city is situated along the coastline of the Douro River. Western Porto also extends to the coastline of the Atlantic.
In recent years, Porto has seen a boom in the tourism industry as Portugal comes out from an economic crisis. Also, the city has benefitted from the increase in net trading and economic positions, as well as the highly improved job market. The favorable economy started after the government changed its policy on social security, wage cuts, and pension. The policy transformation brought about a boost in production as well as exports. Foreign investments are also another major contributor.
Real Estate Appeal
Statistics show that Porto is beginning to witness a real estate boom. The recent growth in the city’s tech and manufacturing industries, coupled with the rise in public spending and tourism, points out the reason for the growth in Porto’s property price. In the city center, the average property price is at €3,850 per square meter, but it is still more affordable than Lisbon. It is expected that property prices in Porto will increase by about 30% in years to come.
A significant benefit for foreign investors is that they require less documentation to buy properties in the country. Real estate demand from foreign investors keeps rising, thereby increasing property prices. It is anticipated that the trend will remain like this for an extended period. For every investor, this is the best time to buy property in Porto.
As we mentioned earlier, Porto has something for everyone. So, if you wish to make a secure property investment, this is the right destination for you. Follow our next articles to find out more about the reasons to invest in Porto and the top neighborhoods to invest in.
Explore Porto's Real Estate
Local Real Estate Experts
Attractive Investments In Porto
📍Over 4,018 investors explored Porto