Competitive Property Sector
And if you need any more reasons for making the decision to live in Portugal, you should know that the range of property available in Portugal is very attractive and competitive.
Portugal is recognised internationally for the high quality of the work done by its architects. Proof of this are the two Pritzker Prizes that have already been awarded to the architects Eduardo Souto Mouta and Álvaro Siza Vieira. Likewise, very attractive prices have made real estate in Portugal into a competitive and trustworthy sector.
Over the course of the last 20 years, Portuguese real estate has experienced major development, both due to the fact that construction quality is becoming increasingly more sustainable, and due to the evolution of spending power.
However, even so, the Portuguese real estate market did not suffer the exaggerated growth seen in other European countries. In Portugal, until late 2013, the number of new constructions was aligned with respective sales. In the last two years, demand has returned which, while ensuring the sale of existing stock, has also made the price index rise to values close to those registered in 2010.
Therefore, Portuguese real estate is a safe haven for domestic and foreign investment, and none of the data available suggest the existence of a property bubble in Portugal. This fact in itself is proof that there are competitive conditions for investment in the sector.
In a comparison of median property prices in major European cities (properties with an area of around 120m2) Portugal comes 26th out of a total of 38 places, showing that the prices charged in Portugal are much lower than those charged in the rest of Western Europe.
In its "Doing Business” Report, the World Bank ranked Portugal 25th, out of a total of 190 economies, when it came to the ease of doing business and to the existence of a user-friendly regulatory environment for the creation and operation of companies.
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