News
Tourism revenue up 50%
The tourism revenue in Portugal has surged by an impressive 50%. This significant increase highlights the growing attractiveness of the country as a preferred tourist destination, attracting visitors from diverse regions. The tourist accommodation sector registered 2.7 million guests in April, 16.5% more than in the same month of 2022, and 6.8 million overnight stays, an increase of 13.8 %.
Why British and American expats are choosing Portugal during the global economic downturn
The country's attractive lifestyle, affordable cost of living, favorable tax benefits, and high-quality healthcare system as key factors driving this trend. Portugal's stable real estate market, excellent infrastructure, and welcoming community also contribute to its appeal among expats. The article showcases personal testimonies and expert opinions to provide insights into the reasons behind this growing interest in Portugal as a preferred destination for British and American expats amidst the global economic challenges.
Increase in investment activity in Porto
The report highlights an increase in both domestic and foreign investments in the city, indicating a growing interest in its real estate market. Factors such as the city's vibrant culture, attractive property prices, and potential for high returns on investment have contributed to this upward trend. The article suggests that Porto's appealing combination of rich history, diverse neighborhoods, and promising economic growth has positioned it as an enticing destination for investors seeking profitable opportunities.
Portugal continues to be one of the most profitable destinations in Europe
Portugal continues to be one of the most profitable destinations in Europe. The report emphasizes the country's attractiveness for both domestic and international investors, citing factors such as a thriving tourism industry, competitive property prices, and a favorable business environment. The article also points out Portugal's resilience during challenging times, as it has managed to maintain steady economic growth and attract a diverse range of investments. Furthermore, Portugal's Golden Visa program and non-habitual residency status are noted as additional incentives for individuals seeking to invest and establish their residency in the country. Overall, the article underscores Portugal's enduring appeal as an investment hotspot within Europe.
Portugal Real Estate Market Update
Check out this article for an update on the latest trends and prices in the first quarter of 2023. Discover which districts saw the biggest increase in prices and which cities experienced stability. Plus, learn about the current state of rental offerings in Portugal and the Porto area.
New Local Accommodation Regulations in Porto
Starting on May 4th, 2023, new Local Accomodation rules have come into force in Porto. The new regulation establishes containment areas in parishes with greater urban pressure, based on the number of dwellings available for permanent housing or long-term lease and the establishments available for Local Accommodation (AL).
€1 billion injection for innovation
The Portuguese government has announced a €1 billion investment plan for innovation and digitalisation initiatives. The funds will be used to support projects that focus on various areas, including health, education, and sustainability, in an effort to boost economic growth and create more job opportunities. The initiative is part of Portugal's wider strategy to become a leading digital and innovation hub in Europe.
Record breaking airport numbers in Porto
Francisco Sá Carneiro Airport in Porto has experienced record-breaking passenger numbers in the first quarter of 2023. The airport served over 3 million passengers during this period, marking a 20% increase compared to the same period last year. This growth is attributed to the return of international tourism and the expansion of the airport's route network.
Record real estate investment in Portugal
Real estate investment in southern Europe (Spain, Italy and Portugal) reached a record value in 2022, with 31.7 billion euros, and the Portuguese market was the one that registered the greatest increase, according to Savills consultancy data.
