As the gateway to European and American markets, with prestigious educational institutions and a drive for innovation, Portugal is a strategic location for those searching for a property abroad.
With a continuously expanding ‘seller’ market, a real estate consulting company that seeks to protect buyers’ interests and guide them through the search and property purchase process emerged as the perfect solution to fulfill a market need. This is how Your Property Advisor was founded in 2020.
JamesEdition talked to Your Property Advisor about their approach to property search, the most sought-after hotspot in Portugal among HNW buyers, and the local real estate trends.
Luxury that Puts the Buyer First
Your Property Advisor (YPA) is a real estate consultant that sells properties without having a portfolio. “It gives us the freedom to search for all available properties throughout Portuguese territory, which is an advantage for buyers. Whatever their needs are, we can submit several proposals that meet their interests”, says Gonçalo Roxo, YPA co-founder.
Without the conflict of interest, YPA is committed to looking for the best property available in the entire market according to clients’ preferences. While selecting properties, the company values swift response, presenting a tailored set of options that meet the customer’s genuine needs within three months.
Today, YPA’s services are most demanded by foreign investors and IT entrepreneurs, with a growing number of second and holiday-home buyers among their clientele.
Working with all the Portugal regions, YPA’s consultants highlighted the country’s upcoming destinations and ‘classic’ locations with stable demand among foreign buyers.
From Madeira to Cascais: Portugal’s Top 5 Property Destinations to Look Out for in 2024
1. Exploring Sesimbra, Tróia & Melides: Emerging Coastal Gems
The sandy havens attracting major real estate developments along the Alentejo Coast.
Just a ferry ride from Setúbal and boasting exceptional golf, boat trips, dolphin watching, exceptional Portuguese Cuisine, and beachside terraces, lies the Troía peninsula. Lounging across the famed Alentejo beaches, and just a 40-minute drive from Troía lies Melides. Titled one of the best destinations of 2021 by Condé Nast Traveller, Melides enjoys quiet beaches, the beautiful Melides lagoon, and a near-tangible level of serenity. An exceptionally attractive element of these two locations is their popularity with foreign investors, with 90 million euros having been invested in 57 new projects across the Alentejo coast in the last five years alone.
2. Madeira; Portugal’s Luxury Hub for Digital Nomads
A Digital Nomad Village, fully equipped with stunning landscapes, a flourishing community, and a high quality of life.
With fast internet, free places to work, great infrastructure, and safety, the famed island of Madeira is becoming increasingly popular with Digital Nomads. These free-spirited businesspeople have abandoned the office in place of the mild climate, exceptional cuisine, and hospitable locals of Madeira Island. This increased foot traffic calls for more places to stay, attracting the attention of investors from across the globe. It is so successful that the world’s first Digital Nomad Village, Ponta do Sol, has been molded into the perfect escape for office-free workers in an idyllic location.
3. Algarve’s West, Central, and East: a Line Across the Coast
With differing weather, lifestyles, sports, and sea, there is the perfect location for all preferences.
Those who enjoy watersports, including kitesurfing, windsurfing, and surfing, will find themselves drawn to the Western coast of Algarve. Across this region, you’ll find rugged cliffs, dramatic rock formations, and the call of the wilderness. If a laidback lifestyle in traditional whitewashed houses or a modern villa with an average price of €4,000 per square meter appeals, Western Algarve is for you.
With luxurious beachfront resorts such as the Quinta do Lago and Vale de Lobo, as well as warm crystalline waters and exceptional golfing opportunities, Central Algarve attracts those seeking a traditional vibrant luxury. Attracting a diverse expat community, Central Algarve offers apartment complexes and townhouses in resort areas, to luxurious villas and properties on the grounds of famed golf courses. Most properties are priced above 1M Euros, with the average price per square meter hovering around €5,500.
Eastern Algarve is an outdoor enthusiast’s paradise, with birdwatching, hiking, and cycling opportunities in the Ria Formosa Natural Park, and kayaking, stand-up paddleboarding, and fishing in the calm waters of the Ria Formosa Lagoon. Offering a close-knit community in traditional village houses, modern apartments, and villas at an average price of approximately €3,500 per square meter. This peaceful location is the ideal place to enjoy peace and the traditional Portuguese lifestyle.
4. An Investor’s Dream: the Allure of Lisbon
Holding the title as the 11th most attractive city for real estate investment, Lisbon offers a range of potential investment opportunities.
Benefitting hugely from the Covid-19 pandemic, the Portuguese capital is enjoying strong international property demand, largely due to telecommuting, the mild climate, low cost of living, and ease of national and international access. Lisbon offers four popular types of investment, from investing in apartments for rehabilitation or planned developments or buying land either to build on yourself or to sell on after gaining project approval. Investing in apartments for rehabilitation offers the fastest revenue stream, with no project approval needed from the city council, plus the option to sell or rent out as a monthly source of income. Finding out which option is best for you can be easily navigated with an expert property advisor, which would allow for the smoothest investment experience.
5. The Exclusive Cascais: Navigating Property Acquisition in Lisbon’s Centerpiece
Unparalleled luxury and cultural offerings nestled between the Ocean and the Sintra Mountain Range.
Known for its culture, exquisite golf courses, amazing surf, sightseeing, and beautiful architecture, Cascais is a paragon of exceptional living and home to a diverse selection of high-end neighborhoods. With homes in the Historic City Center offering ideal amenities on your doorstep and homes at around €6,000 per square meter, this is the place to be if you want to live and breathe the cultured city life. If premium residential areas, Natural Parks, and quiet beaches call to you instead, the beautiful Birre offers spacious villas with gardens, as well as condominiums. Again at around €6,000 per square meter for a 3-bedroom house, this area offers a more peaceful existence.
Other options include residential resorts, such as the Quinta da Marinha, where Cristiano Ronaldo owns an amazing villa. Offering a tasteful mix of traditional and modern houses, as well as a premium health club, golf course, and Horse Riding school, properties here sell at approximately €8,000 per square meter for a 3-bedroom house. Luxury tourist destination, Estoril, is known for its exceptional hotels, beaches, and Casino, as well as being the location of the second home for the Kings of Spain. Known as the Portuguese Cote d’Azur, charming 3-bedroom houses here often sell for approximately €8,200 for a 3-bedroom house.
Navigating Political Shifts and Economic Transitions
Portugal is currently transitioning from the previous policies favorable for foreign investors to new ones aiming to protect the local housing market. The country is still one of the top destinations for international buyers who, more than ever, need a consultant to navigate their buyer journey.
Gonçalo Roxo and Carolina Durao,
“The government is taking steps to address housing issues, including ending golden visas and revoking NHR status. This has made investors more cautious. However, there is a shared understanding of the significance of foreign investment for our country, and there is optimism that the situation will improve in 2024”, Gonçalo Roxo, co-founder of YPA, states.
The approval of the pending State Budget in November might undergo changes with the new government, potentially leading to a reshaping of economic and housing strategies. It becomes imperative to closely monitor government policies during this transitional phase as they play a crucial role in influencing Portugal’s housing and investment landscape.
Find Your Ideal Home in the Perfect Location
Gonçalo maintains a positive outlook for 2024 and underscores the pivotal role of foreign investment in Portugal. “Over the past eight years, foreign investment has reached a total of 56 billion euros, resulting in the generation of more than 640 thousand new jobs, including 495 thousand skilled positions. In 2022, Lisbon secured the 11th spot among the most attractive cities for real estate investments in Europe. This highlights the substantial impact of investments on our country’s growth and development”.
Gonçalo cites investing in historic properties as just one of the beneficial solutions, highlighting its dual advantages for investors and the rejuvenation of residential areas.
If you have other questions on ongoing changes in the country’s real estate market, direct any inquiries to the team at Your Property Advisor, and get unbiased help securing your ideal home.
