Your shopping cart is empty!
Are you planning to sell overseas property in Portugal in 2019? Is this the right time to be selling overseas property in Portugal?
Portugal Overseas Property Market Trends 2019
Portugal is a remarkably popular overseas property destination. It is easy to understand why – it is just as beautiful as Spain, offers the same lifestyle, but at a much lower cost.
The overseas property market in Portugal is stable and very consistent. Home prices here don’t go up and down as they do in other European countries. Even during the worst days of the economic crisis that hit Europe between 2009 and 2014, Portugal’s property market was perfectly fine.
This is in spite of the fact that Portuguese economy was in a critical situation, struggling with a balance of payment crisis, and the government came so close to defaulting on its international debt. Fortunately, that did not happen, as IMF provided Portugal with a lifeline.
Now, things are looking good yet again. The demand for overseas properties in Portugal, which was always high to begin with, is all set to increase in 2019 and beyond.
There are many cash rich buyers from emerging economies such as Russia, China, South Africa, Brazil and the Middle East who see Portugal as a safe haven for their investments. They like the fact that Portugal is just like Spain, but only cheaper.
For instance, the Algarve in Portugal is remarkably similar to the Costa del Sol in Spain. But with many advantages: The Algarve is less crowded, has more natural beauty, and with a better lifestyle plus lower cost of living. What’s not to like?
Which is why it is no surprise that even in the middle of the global slowdown, home prices in Portugal have gone up by 3 percent over the last 12 months.
Also, the rental market here is doing very well. Which means investors see a property in Portugal as a great way to earn a decent rental income, whenever they are not physically present in the country. Apps such as Airbnb have made it much easier to earn a rental income from a second home or holiday home abroad.
Things You Should Know About Selling Your Overseas Property in Portugal in 2019
It’s a very good time to sell your overseas property in Portugal and you are likely to get reasonably high bid for it. However, this will depend on who you sell it to.
Ideally, you will want cash rich buyers from China, Russia, Brazil, South Africa and the Middle East to bid for your property. The question is how to reach out to them.
You can’t possibly trust a local estate agent based in Portugal with this – you will need to hire the services of an overseas property specialist. These are high profile estate agents with contacts with local agents in many countries around the world, such as in China, Russia and the Middle East.
They have a strong expertise in real estate marketing and know which channels to use for promoting your property to high net worth buyers from such countries.