Portugal and Lisbon is attracting many investors

Lisbon is the capital and the largest city of Portugal with a population of a little more than 500,000, it is the heart of a much larger metropolitan area with a population of around 2.8 million. The city’s residential market has mainly recovered from the global financial crisis. Sales volume in 2016 was up 15 % over the previous year, putting the market back on par with its pre-crisis pace in 2010. Portugal is attracting more and more people from other countries because of the weather, the hospitality of the people, the security and because there are lower prices compared to other European countries

The most sought-after neighbourhoods of Lisbon are in the historic city centre, where older buildings are being renovated to meet buyer demand. Even if prices are rising, they are still 40 to 50 % below prices in European capitals like Paris or London, making the city increasingly attractive to international buyers. In the greater Lisbon area, wealthy foreign buyers are also buying property in Cascais and Estoril, suburban beach towns west of Lisbon.

Portugal has two programs aimed at attracting foreign professionals and investors. The Non-Habitual Resident Program grants part-time residents from outside Portugal “a tax holiday on international income for 10 years.  A lot of Europeans are coming for this reason.

Most foreign buyers are from Europe, especially Britain, France, Germany and Italy.

 

 

[from NY Times.com]

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