Supply restrictions poised to push prices up (CI Portuguese Housing Market Survey)
A series of reports points to now being the ideal time for investors to buy property in Portugal. The housing market is already picking up pace, with leading Portuguese property analyst Confidencial Imobiliário reporting that 33,350 dwellings were sold in mainland Portugal during Q2 2024. The transactional activity represents an increase of 4.9% over the previous quarter.
The Royal Institute of Chartered Surveyors (RICS) also points to the Portuguese market being ready for an uptick, with Senior Economist Tarrant Parsons observing: “Strong economic growth forecasts, supported by rising disposable incomes in tandem with improving consumer and business confidence, should begin to feed into the housing market over the coming months.”
In addition to these wider economic factors, Confidencial Imobiliário’s 2024 Portuguese Housing Market Survey data “suggests that house prices are gaining further impetus on the back of increasingly restricted supply.”
Resort properties have long been popular with investors, thanks to their combination of economic returns (from both price growth and rental yields) and lifestyle benefits.
Properties in the Algarve, with its stunning beaches and world-class golf courses, hold particular appeal, providing many investors with healthy returns.
Confidencial Imobiliário’s latest Portuguese Resorts Market Report certainly reflects this, showing resort house prices rose by 9.8% in 2023. The resort sector has the added advantage of typically providing security and maintenance services, along with access to communal facilities such as swimming pools and sports courts.
Property investors keen to understand more about the opportunities that Portugal offers will have the chance to meet with key resort representatives at the Moving to Portugal Show and Seminars in London on October 17, 2024.
Major resorts including Pestana (which operates golf resorts across Portugal), Vilamoura (known for its award-winning marina and beaches) and Life Plan Resorts (a retirement resort for healthy ageing) will all be exhibiting at the event. Their presence will enable property investors to see a selection of the homes currently available in the Algarve and other areas of Portugal.
For those seeking homes elsewhere, from Portugal’s bustling cities to its serene countryside, a selection of estate agents will also be on hand to help at the Moving to Portugal Show. Exhibitors will include Fine & Country Algarve, Garvetur, Waratah Properties and Cerro Novo.
The free-to-attend Moving to Portugal Show will be held at the Pestana Chelsea Bridge Hotel, with tickets available online via https://MTP-London.eventbrite.co.uk
Organised by the Portuguese Chamber of Commerce in the UK, the Moving to Portugal Shows have already been attended by more than 9,000 Britons keen to know more about all aspects of life in Portugal, including investing in property there.
“There’s strong appetite from investors for property in Portugal right now, particularly resort properties. Some simply want a high-quality home managed by the resort that could promote rental income while their capital grows. Others are seeking a property they can use themselves from time-to-time and rent out at other times, whenever their schedule suits. Portugal’s wide range of resort properties mean the country has something to meet every investor’s needs,” says Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK.
For more information, please contact the Portuguese Chamber of Commerce in the UK: www.portuguese-chamber.org.uk or www.movingtoportugal.org.uk, tel 00 44 7463 689666.
