The prices are wild. They’re basically the same as London which is where I’m moving from. Is this sustainable? Does it make sense? Does anyone think it’ll correct, or you think it’ll keep going up?
We decided to hold off for now. The prices seem really crazy to us.
In saying that, interest rates are so low and there’s really a lack of supply here. You can’t build up and there’s limited space. That’s usually a sign of a very good investment. Look at what happened to Sydney. Limited space, can’t continue to build and look at the prices!
Just remember, this isn’t NYC or London. Portugal property prices are much more volatile and all it takes is a change of government or another financial crisis for the bottom to completely fall through the floor.
It’ll be interesting to see what happens now that the Golden Visa is no longer included for Lisbon and Porto…
So long as they have the NHR, I think property prices in Lisbon and Porto are going to continue to boom. People with money are moving here and they need somewhere to live. The Golden Visa was one way they could move here for the NHR but they can also just do it with a D7 Visa.
I think the market will keep going up.