Portugal is one of the best countries to invest in Luxury Real Estate
The “Global Residence and Citizenship Programs” (GRCP) rating, which considered factors such as the Immigration Laws, the tax regimes and quality of life, has come to the conclusion that Portugal is one of the best destinations in the world to invest in property.
With the endless demand on properties, the prices per square meter are gradually growing in appreciation, and the luxury housing emerges as an investment with a secured and quick return, according to INE (national statistics institute) and APEMIP (the Portuguese Real Estate Professionals and Brokers Association). The waiting lists for luxury homes has pushed the market build cost average per m2 to approximately € 3,500/m2 in the Western Algarve but can go as high as € 15.000/m2 in Lisbon area.
This demand is for luxury villas from €550,000 to 1 million plus, but also for building renovations in the historic centres. For Casas do Barlavento, the variation of properties bought, still highlight luxury villas and penthouse style apartments ranging from €550,000 to 3 million euros.
“There has not been any let up in the buyers’ requests this year; the supply and demand for luxury properties are becoming more evident as the days go by”, states Paul Cotterell, Sales Director of Casas do Barlavento.
The high net worth individuals are investing in the luxury real estate across the nation, and their satisfaction and success are, actually, bringing more investors to Portugal.