India Today | ECONOMY

Value for Money Property

Portugal is recognised internationally for the high quality of the work done by its architects. Proof of this are the two Pritzker Prizes that have already been awarded to the architects Eduardo Souto Mouta and Álvaro Siza Vieira. Likewise, very attractive prices have made real estate in Portugal into a competitive and trustworthy sector.

Over the course of the last 20 years, Portuguese real estate has experienced major development, both due to the fact that construction quality is becoming increasingly more sustainable, and due to the evolution of spending power, which reached its highest point at the beginning of the noughties.

In economic terms, over a 7 year period Portugal experienced a nominal variation in prices in the order of 18%, which is practically irrelevant when compared to other countries and corresponds to a percentage much lower than recorded inflation (25%). As a result, the figures are well below those seen in other countries.  ie, Portuguese real estate is a safe haven for domestic and foreign investment.

In a comparison of median property prices in major European cities (properties with an area of around 120m2) Portugal comes 26th out of a total of 38 places, showing that the prices charged in Portugal are much lower than those charged in the rest of Western Europe.

Source: APEMIP| Property Guide

The potential of the Portuguese market is shown in a study by the World Bank which, in its "Doing Business" report (2012), ranked Portugal in 30th place in a ranking of 185 economies.

Portugal is also ranked among the best countries in the world for doing business: in 2012, Forbes business magazine ranked Portugal in 24th place, on a list made up of 141 countries. Aspects such as property rights, innovation and technology, individual, commercial and monetary freedom and investor protection were all taken into account for this evaluation.

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