ALMA DOMUS
Portugal is an EU member since 1986 and has the Euro as its official currency. It is well known for its mild temperature and, according to the EF ranking (English Proficiency Index) , it is the seventh country in the world with the best English proficiency. The tourism industry has assumed an increasingly important role in the country confirmed with several international awards won in this field.
In 2021, the real estate market grew by 10% compared to 2020, and is expected to close the year with a turnover of 33,000Mio. Foreign investment already represented 11% in 2020 and is expected to continue growing in the coming years.
Real estate rehabilitation in historic areas is a government priority supported by tax incentives and other benefits offers to investors (e.g.: VAT at reduced rate, IMI exemption).
Regarding traditional rental, there is a regular and sustained upward price trend since 2016. In regards to short-term rental (AL), even with growth in the property market in recent years, the demand is still high.
Tourism is a clear and solid choice in Portugal with an outstanding positive impact on the real estate market.
Despite the upward price trend in recent years, the most important Portuguese cities (Oporto, Lisbon, …) show competitive prices per m2 when compared to other cities worldwide.
