Portugal’s property offering isn’t all about the Algarve – vibrant Lisbon is an exciting place for a city bolt-hole or buy-to-let investment. We take a close look at the Portuguese capital…
Article written by The Overseas Guides Company
Fusing a charming old quarter, modern residential districts and an idyllic waterfront, Lisbon now offers exciting opportunities to buy-to-let investors and anyone looking to tap into a culture-packed city lifestyle.
The city has true international appeal, attracting buyers from outside Europe, notably China, who can take advantage of Portugal’s Golden Visa scheme, while foreigners – including those from within the EU – who become residents can benefit from generous tax benefits, thanks to its Non-Habitual Residents scheme.
Another attraction of Lisbon is its port, which has played a key role throughout the city’s history. It’s not only cruise ships and cargo vessels that bring business and visitors – recently the dockside has been humming with boats participating in the prestigious 2015 Volvo Ocean Race.
Unsurprisingly, as Portugal’s housing market shows signs of recovery, investors are arriving in Lisbon to take advantage of the discounted properties there. According to data from Statistics Portugal (INE), property values there began to increase again in 2014 and have risen by 1.81 per cent in the year to March 2015, with an average current price of €1,011 per square metre. At the same time, the number of new properties being built is falling, which is expected to heighten demand and help to put upward pressure on prices.
Analysts believe the combination of price reductions, heightened demand and competitive yields has led to a surge in investment in the city, particularly among those looking for long-term buy-to-let investments. In particular, investors are looking for modern apartment properties suited to professional tenants, with upscale buy-to-let properties experiencing strong demand.
Typical of the more affordable character properties in the heart of the city is this two-bedroom duplex apartment within walking distance of Principe Real, Lapa and Sao Bento, popular areas of historic Lisbon. In need of restoration and with 175 square metres to play with, it would be an ideal project for any Lisbon lover looking for a central location with their own personal touch and personality! For more information, click on the image.
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