Portugal is a fast-growing destination for visitors and new residents alike, offering beautiful weather and a laid-back lifestyle, as well as a variety of landscapes, from scenic sea views to historic cities.
While the Portuguese real estate property market and tourism sector tend to put Lisbon and the Algarve at the centre of their efforts to represent the country, the historic centre of Porto is where some wise investors are choosing to buy property in Portugal to future-proof their investment.
As well as exciting investment opportunities, Porto has the kind of historic charm offered by Lisbon, but with more of a relaxed feel. Cobbled streets, brightly coloured buildings and delicious local food are around every corner. There's also stunning coastline close at hand, as well as the Douro River flowing through the town. Inland, there are several parks and gardens providing picturesque green spaces in addition to the waterfront vistas.
These attractions haven't gone unnoticed in recent years, and Porto has seen a relative boom in its hotel market, with 16 hotels either newly built or in the pipeline in the years 2017–2020.
This sudden growth of the hotel industry could herald a significant surge in tourism to Porto, and wise investors interested in the city might take this as a green light to begin buying property with tourists in mind.
Porto's real estate includes upscale apartments in heritage buildings, some with sea or river views. Property with access to the parks or the centre will also be attractive to visitors looking for holiday rentals.
Porto is, after all, Portugal's second city after Lisbon, and holds plenty of career opportunities both within the steadily growing tourism sector and outside of it. The city has a GDP of $43 billion, and supporting its economy is an extensive public transport network of trams, trains and light rail.
One thing lacking from Porto's real estate market is office space of the type and scale businesses tend to look for – a gap in the market that is likely to become more pronounced as the tourism industry here grows. Investment consultants may well advise that investors monitor market trends and be ready to build spaces fit for this purpose to meet the demand.
Although Porto's real estate market is currently geared towards those on a budget, the speedy growth of the city as a visitor attraction is part of an unfolding regeneration that could see it becoming a new market for luxury living.
Porto today has everything one might want from a luxury destination, with the location, lifestyle and infrastructure to support it. The city has only to continue to develop its reputation as a place where prime real estate can be found, and its rise to the top of Portugal's desirable destinations list could be even swifter.
The fact that Porto can be considered as a charming place to live is not only due to the impressive architecture and the promising real estate market. The cultural quality of life also makes the port city one of the most beautiful places in Portugal. As the same-named port wine, some of the country's most outstanding wineries can be found here. In addition, the Bolhão market in the centre of the city is particularly attractive. Countless stalls, cafés and restaurants spoil the palate with regional delicacies. Apart from the culinary delights, Portugal's second largest city also convinces in sporting respects. Above all, the local sandy beaches are considered as true paradise for water sports enthusiasts.
