Real estate buyers in Portugal are getting far more bang for their buck, according to new research from Property Market-Index.
The sun-soaked nation offers the best deal for those looking for a four-bedroom home compared to elsewhere in Europe and many popular destinations around the world.
And with the cost of living considerably lower in Portugal too, the stream of wealthy expats flocking to its shores looks unlikely to slow.
By crunching data from Property Market-Index, the average four-bedroom property in Portugal costs €300,000. That’s less than half the comparable property in the UK which sells for €650,000.
That’s a 117% difference.
A similar-sized property in the USA would cost €620,000 – a 107% increase on Portugal real estate.
In Canada, it is even more pronounced with a four-bed home costing, on average, €850,000 (183% more).
Hong Kong – where real estate is some of the most expensive in the world – a comparable style property would be a staggering €3,000,000 (900% higher).
In France the cost would be €450,000 (50% more) and Germany €400,000 (33% higher).
A spokesperson for Portugal Pathways, a company focused on assisting wealthy individuals and their families in optimising their relocation or life strategy in Portugal, said: “Real estate in Portugal has always represented fabulous value for money and these figures underline that.
“Even though there has been significant investment in property over the last decade, in part fuelled by Portugal’s attractive tax regimes and visa programmes such as the Golden Visa, D7, D8 and D2 to encourage talent and external investment, the property market still offers fabulous opportunities.
“As this data shows, savvy buyers and investors wanting to live in a beautiful country with its long coastline, lush countryside, vibrant cities and 300+ days of sunshine, can still find the right real estate opportunities at a considerable saving compared to other parts of the world.’’
Amanda Collison, at Property Market-Index said about their recent findings on Portugal:
“Prices have continued to rise, but they still offer fantastic value for money compared with other international real estate markets – something which is set to continue to attract thousands of wealthy investors to pump money into property.
“It is little wonder Portugal has proved so popular with investors and wealthy expats and that is only set to continue for the years ahead.”Learn more about about the latest Property Market-Index report on Portugal’s property hotspots.