News
Property prices and rents rise again
The Portuguese property market is thriving with reports indicating that property prices and rents are on the rise once again. This development makes it a prime time for those looking to invest in the market, whether it be for buying or renting a property, as high demand has created a sellers' market with increasing prices.
Portugal Real Estate Market: the ultimate guide
An overview of the Portuguese real estate market, including current trends, investment opportunities, and the buying process. From stunning coastal towns to big cities, Portugal has a lot to offer, and if you’re ready to leap into real estate, this guide will walk you through the basics to make the best decision for your future.
Is it still prime time for Portuguese real estate?
The real estate market in the prime segment is preparing for another very positive year. The optimism contrasts with the uncertainty that persists within an unpredictable world and the impact that the current global economic situation may have on property demand and decision-making. The Portuguese real estate market has remained strong and resilient in the past years and there is still a high demand for Portuguese property, especially from foreign buyers, driven by factors such as favorable tax laws, low interest rates, and a growing economy.
Porto city guide: your weekend break sorted
The Times provides a comprehensive guide for travelers who plan to spend a weekend in Porto. It recommends top tourist attractions, such as Ribeira Square and the São Bento railway station, as well as the best local food and drink options, including the famous Port wine. The guide also covers practical aspects of the trip, such as the best time to visit and how to get around the city.
Over a million visitors to Port cellars
The Port Wine Cellars, in Gaia, received more than one million visitors in 2022, a significant increase compared to the previous two years, but below the 1.37 million tourists of 2019. The increase in visitors is attributed to the growing popularity of the country as a tourist destination, as well as the expansion of direct flights to Porto. The Douro region is known for its production of Port wine, and visitors can tour the cellars, taste the wines, and learn about the wine-making process.
Biggest property price increase in 30 years
The sale prices of houses in Portugal (Mainland) rose 18.7% in 2022, the highest annual appreciation of the last 30 years, according to the Residential Price Index of Confidencial Imobiliário.
Local accommodation suspension to “discipline” sector
Vila Nova de Gaia Council, in the district of Porto, has decided to suspend new registrations for local accommodation for six months in order to create new municipal regulations and to “discipline” the sector. The proposal was unanimously approved, and is now being discussed in the Municipal Assembly.
200 digital nomad visas issued in just two and a half months
In just two and a half months 200 people have taken advantage of the Portuguese government’s new ‘digital nomad visa’ – the majority of them citizens of the United Kingdom, United States and Brazil. According to data sent to PÚBLICO by Porto City Hall, a digital nomad stays in the city an average of seven nights (a tourist stays 2.1 nights). The figures are an estimate of the number of visits by digital nomads based on the number of trips registered by members of Nomad List, a paid platform, says city hall.
Portugal ranks 6th in the list of most powerful passports.
The ranking includes 199 passports and 227 different travel destinations, according to data from the International Air Transport Association (IATA). Alonside France, Ireland, and United Kingdom, Portuguese passport appears in the 6th position with 187 destinations.
