7 July 2020
English
There is a wide variety of houses for sale in Portugal, from simple villas and flats to large mansions, farms and luxury houses. The value of these houses greatly depends on their area and location, especially.
Between 2008 and 2011, at the time of the economic crisis that hit Europe, and in particular Portugal, property prices fell sharply, both for the most affordable homes and for luxury homes. Soon after this time of crisis and its recovery, the figures rose again to those of the pre-crisis period, and from then on growth has been continuous and gradual to the present day.
The prices of houses for sale in Portugal vary greatly from region to region.
In regions of higher demand and low supply, such as the central regions of Lisbon and Oporto, prices can be 30% higher than in more affordable regions. However, the rehabilitation of old buildings in historic areas has stabilised the values.
The recovery and growth in the values of the real estate buying and selling segment after the recession is due to a combination of some factors:
These are the major nationalities that invest the most in houses for sale in Portugal:
The price per square meter in Lisbon has attracted buyers from all over the world as it is lower than most of Europe's capitals. The houses for sale in Portugal have a very competitive value per square meter with higher quality of construction and finish than other European capitals such as Paris, London, Madrid, Brussels and Rome.
Prices also depend very much on the state of conservation and year of construction of the property. If the property is degraded or in ruins, the price can be reduced by up to 50%, although it will need major rehabilitation work. A property in good condition is always better valued, especially if it is recent or if it has been refurbished recently. However, even within the district of Lisbon, the values depend greatly on their location.
The price of used real estate can be the same as new real estate if there is a low supply of real estate in that region. Foreign investors/buyers prefer to buy new property in order not to worry about rehabilitation issues.
Banking institutions have been buying many houses, especially for lack of instalment payments from future owners.
In order to re-sell these properties and make them profitable, they have created advantageous conditions for future buyers compared with traditional home loans. These conditions include the possibility of financing 100% of the purchase value of the property in the bank's possession and the lowest spreads, between 2 and 3%.
In addition to these advantages, grace periods, longer financing periods, free valuation of the property and exemption from certain commissions and expenses are allowed. Some of the houses on sale in Portugal are from banks that still make very attractive discounts beyond all the advantages indicated.
Buying a house in Portugal is a dream and an opportunity for many.
If you've found your dream house, don't waste time and come and live in Portugal. Negotiate the final price with the help of Buy House Portugal and you will have the following advantages:
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