Is Portugal's Housing Market going to crash?
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- เผยแพร่เมื่อ 30 พ.ย. 2023
- Welcome to our latest TH-cam video, where we delve deep into one of the hottest topics gripping Portugal and the Real Estate market today: "Is Portugal's Housing Market Going to Crash?" 🏘️💥
Considering making the move to Portugal? 🇵🇹 Join Ana Caramujo as she explores the factors impacting Portugal's housing landscape today. From the current status of the rental market and new constructions shaping the investment market, to the role and impact of Airbnbs and their influence on housing trends of the country.
All of this with the current backdrop of Portugal’s political situation and what does it mean to the housing market. 🏠
Whether you're a potential expat, investor, or someone just fascinated by real estate trends, this video equips you with the knowledge you need to navigate Portugal's housing market confidently.
🔎🏠🐾 More than a real estate agency, your relocation, buyer and investment experts!
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DISCLAIMER
Due to the current (and unstable) state of the Portuguese real estate market, Savvy Cat Realty does not guarantee that all information or advice shared in this video is up to date. For any further questions concerning our content or products, please book an Advisory Call with a qualified Savvy Cat Expert or contact us at contact@savvycatrealty.com
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Good informative video. Thank you!
Thank you! 💫
Great info Portugal has always been one of my go to destinations when I hit retirement so keen to see how things pan out there
Go to Portugal mainland interior rural areas, its already cheap there and calm for retirement
Real estate is driven by location so Portugal is still a big country, you have the major cities where the demand will always be superior to the offer, and then you have the center of Portugal such as Santarem where properties stay on the market for a long period of time and so on.... So you cannot just talk about the whole country but compare apples with apples and not oranges. In Lisbon and Porto, prices are likely to remain high while in some other less desirable areas will see a decline in prices.
This is the most accurate and detailed explanation about the housing market in Lisboa ❤
Thank you 😻
A crash in any market is almost never predictable. I hope the recent changes will stabilize the market in Portugal for everyone, especially locals. And, if everyone is screaming crash and selling, it's probably time to look into buying :D
Thanks for your point of view and detailed infomation. I am looking for a renovated, morden furnished or part furnished T1 or T2 rental in Ereceira, Leira to move in 31st December.
I have been looking on Idealista but not getting replies on the property I like but getting replies from other landlords and agents about options am not too happy about.
Also I don't know who to trust or not cause I've heard of scamners on the website
Many adds on property websites are just clickbait, the property advertised is no longer available or... never was. Be careful! Don't pay any money for "deposits" or for "reserving" the property.
An honest landlord or an honest agent representing the landlord, will show you a copy of the Caderneta Predial with the name of the owner, and will not ask you any money before you view the property and sign a contract.
Very likely they'll also want to know a bit about you, your income, etc.
When all they want is a deposit... just run as fast as you can.
Fixed 2,75% and so happy we insisted on this loan!! Great realtor and banker...We are very lucky!!!
How did you manage 2,75%?
@timm5229 We bought our home in July 2022 when rates were low...We had a good realtor who hooked us up with a competitive bank(BPI) and we figured rates were only going up so we locked in. Variables were a little lower, but we didn't care!! My how things have changed...
Damn, nice.
Appreciate your insights. I'm developing a previous residential and commercial building in Portimao into a 5 unit residential building. If i own the entire building, will the recent AL changes stop me from applying for AL licenses for each unit?
AL licences are issued by the local Camara Municipal and they have autonomy to decide whether to give new AL licenses or refuse them in their municipality. It all boils down to this: if there is a shortage of long term rental accommodation in that area they won't issue new AL licenses.
If your property was being used for residential occupation previously and is located in the town (as opposed to rural area) you are most likely to be refused.
Why don't you go to the local Camara and ask them directly? They'll explain what is their current policy on this.
There are currently good tax breaks for landlords for renting their residential properties on long term contracts.
Some Camaras are renting properties directly from landlords at market price and offering them to renters such as teachers, doctors, key workers etc at a discount. Landlords get a guaranteed income, don't have to deal with the tenants themselves, they'll get their property back at end of the contract or renew contract with Camara, and they'll get tax discounts. Worth checking.
@@donnacosta5633 I do real estate investing in the US. I have rentals and I flip houses to generate capital to buy more rentals. Based on the laws in Portugal that are skewed to protecting tenants more than landlords. The risk of just one bad tenant isn't worth it to do long term rentals in Portugal. Put yourself in my shoes. I have a 5 unit apartment building and just 1 of them stops paying rent and I still have to pay for that building and it's up keep and it may be over a year before I can ever get rent on that unit again. As a landlord once you go through that scenario just once how can you put yourself in the position to go through that ever again. The long term rental laws in Portugal compared to the US are night and day. If I can't do short term rentals where I am in control as the owner of that building I can't put my self at the mercy of a long term renter.
@@JasonJFlippingLife That's exactly why a contract with the local Camara (if they are doing it in Portimao) would be beneficial to you, because the Camara pays you a guaranteed market rent and you don't have to deal with the tenants. Your contract is only with the Camara and they sublet to key workers and you ALWAYS receive the rent from the Camara, even if the tenants default. I think there is also a guarantee clause that you'll get your property back in a usable condition. Win -win.
The only thing you cannot do is end the contract before the agreed expiry date, but neither can the Camara, so your rental income is guaranteed.
On your other point of getting 5 AL licenses instead of 1, you'd need to have the whole property registered as "Propriedade Horizontal" and have documents for each one of them such as 5 Licenças de Habitaçao etc,
Ask your local Camara, they'll give you an answer about AL licenses on the spot, if you take all your property docs with you.
I am a graphic designer. Can I help you for free? Nice 👍 explain.