For EU citizens like me, a drop in property prices is very welcome. I would like to 'retire' in the Duro Vally area in the next few years. It would be interesting to view the situation and its opportunities from this perspective!
I believe in the countryside there will be plenty of bargains. In Porto and close to it, it is rather unlikely, but at the same time, I don't see room from price increases much beyond inflation.
I think Portugal is wise to pace it's growth and allow for some balance particularly, for investors that are purchasing for BnB endeavours. In the big picture I think those that have purchased to settle in Portugal have definitely been value added and I'm sure the countryside has come to life again. That said, slowing the pace will help locals acclimatize to newcomers and allow Portugal to catch up to it all. ♥️🇨🇦
Those are good points, but I think Portugal had the right idea with the wrong pace, it offered too much too quickly and then withdrew most of the advantages too quickly as well. This instability does not help investors trusting the economic environment.
@@traveleconomics I agree with that too. That said, that is now the problem everywhere, our country being no exception. It's time to close the gates for a while. We now have newcomers coming in to cover the costs of the newcomers that came before them and Canadians, especially seniors drowning in costs they can't keep up with and no access to all the 'free stuff' that foreigners clamour to get in for. Utter mess actually. 🇨🇦
@@Maddie2u Yes, in the case of Canada it is exactly what you said. I am planning to make a video on how the Canadian Real Estate market relies mostly on immigration to make prices rise constantly, giving a false impression that things go well, when they actually aren't. Locals, and even previously arrived immigrants are priced out of the market by new, wealthier immigrants/expats.
@@traveleconomics yes, those coming over now (and I worked right among them all for two years, directly off the plane) are definitely economic opportunists and honestly, I wouldn't say they are the nicest or even most hard working immigrants this country has ever seen and, that's being honest and very diplomatic. ♥️🇨🇦
@@traveleconomics definitely those coming into the country now are economic opportunists and far from the nicest or most hard working this country has ever seen. I'm being overly diplomatic in saying this. They look down on Canadians and the Canadian way of life, they will weasel where they can, including products out the back door, they will watch senior Canadians working while they slouch...nothing pretty about any of it. I worked right among them, for two years, they were straight off the plane. I'm now all for closing the gates. We are falsely relying on them, that idea is simply another Government pitch, again, like many western nations.
Real estate might face the same situation what had happened in Spain in 2000s, or what happened Türkiye 2years ago, where e real estate went crazy without any base behind it, and collapsed. It happened Serbia as well, going to happen in Thailand. It is like a flow of migrants coming and when no more benefits they are living the country, and this is the time when real estate collapse. But prices in Porto for example are crazy, the apartment u could buy for 100K now tripled, while min salary of locals is below 1k
For EU citizens like me, a drop in property prices is very welcome. I would like to 'retire' in the Duro Vally area in the next few years. It would be interesting to view the situation and its opportunities from this perspective!
I believe in the countryside there will be plenty of bargains. In Porto and close to it, it is rather unlikely, but at the same time, I don't see room from price increases much beyond inflation.
Foreigners are still able to buy regardless of those regulations so it's still interesting especially in Lisbon, close to an International airport.
I think Portugal is wise to pace it's growth and allow for some balance particularly, for investors that are purchasing for BnB endeavours.
In the big picture I think those that have purchased to settle in Portugal have definitely been value added and I'm sure the countryside has come to life again.
That said, slowing the pace will help locals acclimatize to newcomers and allow Portugal to catch up to it all.
♥️🇨🇦
Those are good points, but I think Portugal had the right idea with the wrong pace, it offered too much too quickly and then withdrew most of the advantages too quickly as well. This instability does not help investors trusting the economic environment.
@@traveleconomics I agree with that too. That said, that is now the problem everywhere, our country being no exception.
It's time to close the gates for a while.
We now have newcomers coming in to cover the costs of the newcomers that came before them and Canadians, especially seniors drowning in costs they can't keep up with and no access to all the 'free stuff' that foreigners clamour to get in for.
Utter mess actually.
🇨🇦
@@Maddie2u Yes, in the case of Canada it is exactly what you said. I am planning to make a video on how the Canadian Real Estate market relies mostly on immigration to make prices rise constantly, giving a false impression that things go well, when they actually aren't. Locals, and even previously arrived immigrants are priced out of the market by new, wealthier immigrants/expats.
@@traveleconomics yes, those coming over now (and I worked right among them all for two years, directly off the plane) are definitely economic opportunists and honestly, I wouldn't say they are the nicest or even most hard working immigrants this country has ever seen and, that's being honest and very diplomatic.
♥️🇨🇦
@@traveleconomics definitely those coming into the country now are economic opportunists and far from the nicest or most hard working this country has ever seen. I'm being overly diplomatic in saying this. They look down on Canadians and the Canadian way of life, they will weasel where they can, including products out the back door, they will watch senior Canadians working while they slouch...nothing pretty about any of it.
I worked right among them, for two years, they were straight off the plane.
I'm now all for closing the gates.
We are falsely relying on them, that idea is simply another Government pitch, again, like many western nations.
Yes it's still an excellent idea to buy in one of the most affordable countries in Europe
@@Carolinapetroska where is it? Certainly not Portugal.
Real estate might face the same situation what had happened in Spain in 2000s, or what happened Türkiye 2years ago, where e real estate went crazy without any base behind it, and collapsed. It happened Serbia as well, going to happen in Thailand. It is like a flow of migrants coming and when no more benefits they are living the country, and this is the time when real estate collapse. But prices in Porto for example are crazy, the apartment u could buy for 100K now tripled, while min salary of locals is below 1k
@@666orkhan yes you are absolutely right. Overpriced and underdelivering.
Real estate speculation by foreigners is making impossible for locals to buy or rent a house