I would add Setubal district, which is also south bay of Lisbon. You can find modern T3 villas for 300 to 600k with 300 to 500 sqm plots, right by the best beaches in Portugal (outside of Algarve), just 20 to 30 min from center of Lisbon. Aroeira, Belverde and even Alcochete (where a new airport is possibly going to be built) investment around 2 to 4k euros per square meter is possible. Might not be cheap cheap but capital appreciation is very likely as right by these locations are also Herdade da Aroeira and Verdizela, where villas are sold regularly north of 1 and 2 million euros (this is where most of Benfica and Sporting players live). Also not far is Palmela and Azeitão (where Mourinho has is main portuguese residence). With Beautiful protected parks (Arrabida Fóssil and Parque da Biodiversidade) and km wide sandbeaches (unlike artificial beaches of Cascais and Estoril) such as Fonte da Telha, Praia do Pescador, where most surfing and wind surf action takes place, outdoor activities are abundant. Again, not the cheapest in europe, but still around half of Lisbon prices, with much better quality of live, while being 20 to 30 min away from it and overall even better weather all year long due to the "Peninsula of Setubal" micro climate. Many well of portuguese are buying in Comporta and Troia - not my cup of tea, but also nice and within Setubal. New International Airport is going to be here in South Bay, so growth prospects are solid. More broadly, prices are unlikely to go down much as international investment funds and expats keep coming to Portugal, which has a more stable political setting than Spain for instance, has an history of being foreign friendly, while enjoying great mild weather, being safe and with great culinary tradition. Maybe more importantly, the supply side is curtailed for years, due to strong restrictions on keeping facades, on building taller buildings above the historical skyline, and due to environmental regulations. This has been so for a decade. Note: Came to your channel to check Vienna analysis. Ended up checking your breakdown of Portugal and shared my two cents as a Portuguese.
Not too long ago, markets in Portugal were some of the best values in Europe. Not so much anymore. I agree with you Giorgio, many of these markets are artificially high and sitting on a bubble. I'd go for the Azores in #1 spot. How about a Top 5 European Markets for 2024 video?
Mike yes particularly cities like Lisbon and now Porto are overheating. Azores nearly made first position but prices have also gone up a fair bit. More top 5/10s coming.
I always watch your videos because they are very informative. In Portugal it's just a matter of time before you see major anti-foreigner vibes as they have made property purchase unaffordable for young citizens in places where the young go to find work. Allowing young families to be priced out of the property market is a very poor long term strategy for any countries. As a general rule I would say cities below 50K populations are typically more welcoming and can appreciate the influx of foreigners with money to invest in properties and in their cities
Personally I think there will be a correction in the next year or so. I don't see a collapse but cities like Lisbon/Porto prices could go down by up to 10%.
@@saveandinvestwithgiorgiolo8375 I agree. I'm from NYC and when it the housing crash happened in 2008 the thing I noticed is that cities don't move. Too prime of real estate.
Like you mention a correction is due but... they along with many other countries are just not building enough affordable housing.. there are still affordable areas of Lisbon left but I shall not mention them by name on here.. even If I did they probably wouldn't appeal to many foreigners anyway... will there be a correction? maybe in the mid to high end stuff but maybe not so much on the local market and lower values...Lisbon owes much of its needed facelift to foreign investment and the historical center was practically falling down 20 or so years ago....Yes its been over priced for many years now in central Lisbon but these days its very different vibe going out there and the options are vast.. along with a good selection of international people who are living or visiting there also.. what it could do with is more building projects for affordable housing maybe with discounts for full time residence on certain salary brackets. & last but not least a new airport and high speed rail links to Madrid.. which if we are lucky could become reality within the next 10 years.. Lets see what the new administration have to offer when they come in early next year...lets all hope for the best.
Real estate in Portugal is way overpriced and soon or later there will be a market crash ...Portugal does not have income for those prices ...still cheaper to buy land and build in any part of Portugal
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I would add Setubal district, which is also south bay of Lisbon. You can find modern T3 villas for 300 to 600k with 300 to 500 sqm plots, right by the best beaches in Portugal (outside of Algarve), just 20 to 30 min from center of Lisbon. Aroeira, Belverde and even Alcochete (where a new airport is possibly going to be built) investment around 2 to 4k euros per square meter is possible. Might not be cheap cheap but capital appreciation is very likely as right by these locations are also Herdade da Aroeira and Verdizela, where villas are sold regularly north of 1 and 2 million euros (this is where most of Benfica and Sporting players live). Also not far is Palmela and Azeitão (where Mourinho has is main portuguese residence).
With Beautiful protected parks (Arrabida Fóssil and Parque da Biodiversidade) and km wide sandbeaches (unlike artificial beaches of Cascais and Estoril) such as Fonte da Telha, Praia do Pescador, where most surfing and wind surf action takes place, outdoor activities are abundant. Again, not the cheapest in europe, but still around half of Lisbon prices, with much better quality of live, while being 20 to 30 min away from it and overall even better weather all year long due to the "Peninsula of Setubal" micro climate. Many well of portuguese are buying in Comporta and Troia - not my cup of tea, but also nice and within Setubal. New International Airport is going to be here in South Bay, so growth prospects are solid.
More broadly, prices are unlikely to go down much as international investment funds and expats keep coming to Portugal, which has a more stable political setting than Spain for instance, has an history of being foreign friendly, while enjoying great mild weather, being safe and with great culinary tradition. Maybe more importantly, the supply side is curtailed for years, due to strong restrictions on keeping facades, on building taller buildings above the historical skyline, and due to environmental regulations. This has been so for a decade.
Note: Came to your channel to check Vienna analysis. Ended up checking your breakdown of Portugal and shared my two cents as a Portuguese.
Not too long ago, markets in Portugal were some of the best values in Europe. Not so much anymore. I agree with you Giorgio, many of these markets are artificially high and sitting on a bubble. I'd go for the Azores in #1 spot. How about a Top 5 European Markets for 2024 video?
Mike yes particularly cities like Lisbon and now Porto are overheating. Azores nearly made first position but prices have also gone up a fair bit. More top 5/10s coming.
I always watch your videos because they are very informative. In Portugal it's just a matter of time before you see major anti-foreigner vibes as they have made property purchase unaffordable for young citizens in places where the young go to find work. Allowing young families to be priced out of the property market is a very poor long term strategy for any countries. As a general rule I would say cities below 50K populations are typically more welcoming and can appreciate the influx of foreigners with money to invest in properties and in their cities
Judging from some of the comments on here we are already seeing a backlash from locals
Locals have made rent unaffordable as they're usually the ones doing AL. The government needs to do something about it.
These are super helpful, thank you so much!
My pleasure elplata
Great content thank u
Many thanks sihlemasondo
Merry Christmas Giorgio. Thank you for yet another informative video.
Many thanks Fergus. A Merry Xmas and a Happy New Year.
some of my Portuguese friends say buying a house in Portugal is beyond their affordability. Your video confirms exactly that Giorgio.
Yes in many parts of Portugal this is the case in particular the larger cities and the coast. A correction is due.
@@saveandinvestwithgiorgiolo8375 Any predictions when that will be and how do you see housing prices/rates being affected?
Personally I think there will be a correction in the next year or so. I don't see a collapse but cities like Lisbon/Porto prices could go down by up to 10%.
@@saveandinvestwithgiorgiolo8375 I agree. I'm from NYC and when it the housing crash happened in 2008 the thing I noticed is that cities don't move. Too prime of real estate.
Yes market looks very overvlaued in particular prime real estate.
Like you mention a correction is due but... they along with many other countries are just not building enough affordable housing.. there are still affordable areas of Lisbon left but I shall not mention them by name on here.. even If I did they probably wouldn't appeal to many foreigners anyway... will there be a correction? maybe in the mid to high end stuff but maybe not so much on the local market and lower values...Lisbon owes much of its needed facelift to foreign investment and the historical center was practically falling down 20 or so years ago....Yes its been over priced for many years now in central Lisbon but these days its very different vibe going out there and the options are vast.. along with a good selection of international people who are living or visiting there also.. what it could do with is more building projects for affordable housing maybe with discounts for full time residence on certain salary brackets. & last but not least a new airport and high speed rail links to Madrid.. which if we are lucky could become reality within the next 10 years.. Lets see what the new administration have to offer when they come in early next year...lets all hope for the best.
Many thanks for your detailed feedback tomjo.
Real estate speculation by foreigners is making impossible for locals to buy or rent a house
Thank you for the video sir, curious about the reason you removed Madeira from the list you made last year
Thank you. Property prices in Madeira have skyrockted over the last year or so.
Real estate in Portugal is way overpriced and soon or later there will be a market crash ...Portugal does not have income for those prices ...still cheaper to buy land and build in any part of Portugal
Agree most of Portugal is overpriced and a correction is due.