Portuguese real estate as an investment option for the French
Moderate growth in real estate, economic development and improvement of living standards make Portugal an attractive country for investment. A bonus to these points is a mild climate, almost all year round summer and the ocean. It is no wonder that Portuguese real estate is in demand among foreigners. Particular interest in the last five years is observed by the French.
Pensioners of France are actively investing in housing here, making a tangible contribution to the country’s economy. They acquire objects in different cities, focusing exclusively on their own preferences, rather than on the monetary threshold. Such activity on the part of the French experts explain the high cost of real estate at home. At home it is difficult for them to buy a separate dwelling, while in Portugal, the market has quite loyal price tags.
When comparing the cost of housing in France and here, it becomes clear that pensioners are interested. To buy an apartment in France, you will have to pay a sum that is 2 times higher than in Portugal. This is why foreigners are focused on purchasing comfortable housing here at prices favorable for them.
Such activity on the part of investors was not left without attention for players on the local real estate market. The value of the objects increased by 5%, which made the acquisition process difficult for the Portuguese themselves. The price of a square meter of housing is 2400 euros, and according to experts, it will grow.
But such trends do not stop the French, who buy about 30 houses per day. This fact allowed them to become the largest foreign homeowners in Portugal. Statistics show that 80% of the French who have real estate in the country are people of retirement age and belong to the middle class. They can allow such acquisitions because of wages that are much higher than those in Portugal.
When comparing the cost of objects, the benefits of the purchase become obvious. For a house in Paris of 31 sq.m. the same amount of money should be given as for a house in Lisbon of 85 sq.m. A square meter in a city with the Eiffel Tower is 3 times more expensive than in the Portuguese capital.
Local residents are not very happy with the French expansion. Sellers inflate prices, and foreigners take the options they like without much bargaining. At the same time, it is quite difficult for the Portuguese themselves to buy housing, and with regularly rising prices will soon become almost impossible.
But on the other hand, the increase in the number of foreign investors contributes to the development of the real estate market and brings income to the country’s economy. There is no need to think that the cost of housing will become exorbitant for the Portuguese – their salaries and living standards are growing, which will allow them to buy the desired apartments and houses.