Portugal Golden Visa Program fuels countrywide real estate activity since its inception in 2012. Porto, until the last few years, has been the second favourite investment target among international investors. 2020, however, is projected to constitute a different scenery. While also involving most of the advantages the Portuguese capital offers to its residents like job opportunities, business activity, high standards of living and security, Porto provides investors with real estate opportunities that are 30 per cent cheaper on average when compared to Lisbon.
Porto, approximately one decade ago, is declared as a World Heritage Site, and ever since, the number of FDI (foreign direct investment) in the city has skyrocketed. Currently, there are 301 foreign companies and 872 foreign corporates in Porto, and these are only in the central region of the city. The upwards trend of incoming investments and new businesses in Porto is set to continue, even accelerate. Thanks to the massive international companies which recently opened business centres in Porto like Microsoft, Adidas, Bosch, etc., the city’s popularity and recognition increases worldwide.
Maintaining its stance as a business centre that receives millions of dollars of investments every year, Porto also contributes to the country economy greatly. For instance, the city has a considerable percentage of new companies founded in the area of technology. These companies account for 36 per cent of the total investments made nation-wide.
Together with Naples, Megéve of France, Székesfehérvar of Hungary, Batumi of Georgia and Rotterdam, Porto finds itself a place among the top 6 cities to invest in in Forbes’ recent list. Last year, Lisbon was the Portuguese city in the top 6, but Porto outperformed Lisbon and got Lisbon’s place. Also frequently named as one of the best cities to visit in Europe for vacation, Porto is a beautiful city with amazing business opportunities. Finally, it starts to receive the respect it deserves.
Porto’s recognition and popularity was low-key for a while among investors. The city saw a yearly growth of 15 per cent in real estate sales, yet its properties are still 30 per cent cheaper than Lisbon’s. According to these figures, Porto’s real estate market still follows Lisbon from five year behind. However, it means that Porto real estate promises high, stable, and almost certain returns for at least half a decade. Now more popular than ever, Porto’s construction sector and property market grow fast. Investors who aim to turn their investments into profit faster than other options may try and find the best real estate options in Porto. The city provides investors with the possibility of finding properties that are more affordable and more profitable than most of the European cities. Recently gone through a massive project of urban development and rehabilitation, Porto enjoys a consistent growth rate of 9.1 per cent of foreign direct investment over the last decade. If the percentage is recalculated according to the last 5 years, the growth rate increases to 11.4 per cent.