Portugal considered Europe’s top residential hotspot

A recent survey shows that Portugal is one of the most desirable places in Europe in which to live and invest. Emerging Trends in Real Estate 2019, a joint survey by PwC and the Urban Land Institute, found that the country’s healthy economic market, strong growth and tax benefits make Portugal an international destination for companies, investors and tourists.                                                                            

The report, which surveyed almost 1,000 respondents from across 22 European countries, found that Portugal’s economy is growing at a healthy clip, offering stable returns across diversified property assets.

The survey ranked the real estate market in major European cities according to their overall investment and development prospects and, this year, Portugal’s capital city of Lisbon earned the number one spot.

Shift to smaller cities

The Emerging Trends in Europe 2019 survey indicated that attention is shifting to smaller, dynamic cities, dubbed the “rising stars”. Lisbon topped the list for overall prospects, with respondents citing the city’s “high quality of life”, “positive leadership” and “growing economy”.

Lisbon, which jumped 10 positions from last year, is one of the smaller newcomers expected to fare best in 2019. “It’s on everyone’s platter of cities they like,” said a European fund strategist who took part in the survey.

Portugal was recently distinguished as the best European country for expats (find out why here), with Lisbon, Porto and the Algarve faring highly on the most popular areas for house-buyers in the country.  The results also come after the news that 2019 has been best year for the property market in the Algarve since the recession (read more here).

For expert insight on buying property in the Algarve, you can learn more about the process here.