It is noteworthy that property prices in Portugal have continued to increase despite the anticipated downturn in worldwide real estate markets due to the coronavirus pandemic. On average, prices in Portugal rose by 12% throughout the country in 2021, with Lisbon and Faro being the most expensive cities.
The driving force behind this upward trend in property prices is the growing interest among international investors in purchasing real estate in Portugal. Portugal's mild climate, higher standard of living, safety, and hospitable attitude towards foreigners make it an attractive destination for year-round living. In contrast to its more popular neighbor, Spain, Portugal is known for its mild climate that is not too hot in the summer and not too cold in the winter.
In 2020, real estate prices in Portugal increased by an average of 10%, with luxury apartments in Porto experiencing a 20% rise in value, 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 in many other EU countries.
The Portuguese real estate market is actively developing despite the pandemic and turbulence in the global economy. Currently, the British, French, Brazilians, and Americans are actively purchasing properties in Portugal. To learn more about existing investment plans and how European markets can benefit you, please visit our homepage.
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