So you decided to buy a property in Porto. Are you sure about that? 🙂 Take a minute and see some of the property for sale in Porto and what your budget can buy you in the city vs. what will buy you right near Porto. The difference is … mind blowing!
While researching properties in Porto I found some really small and not so pretty apartments and houses in this price range so I decided to look a little further out of town.
I thought that for this kind of budget you need to have at least 3 bedrooms, spacious kitchen and why not, a pool and outstanding views!
And yes, looking around Porto I found some mind blowing big and renovated houses and my suspicion were confirmed: your money will go a long way if you just move 15 to 30 minutes drive outside town.
I am all about living on the high street, right smack in the city center because this is how I lived all my life so far: having all the shops, terraces and parks right on my street and I walk everywhere I need. Also in my country everybody wants to be in the city because that is where the action is!
But in Portugal, especially with this area Porto I find, you need at least to take a look at properties around the city, if not considered seriously! Although not every areas in Portugal are the same
When I searched to buy our property in Algarve Portugal, we found that properties in town are cheaper than properties between towns and close to the ocean or on the islands. I guess the same applies for Lisbon if you compare it with Cascais or Estoril.
what is going on with property prices in Porto?
They are sky high, at least in my opinion! Porto used to be known like a place where you can find affordable good quality properties and now, the question on everybody’s lips: is it still the case?
It would appear the current reality is that the demand is higher than the supply and this makes prices go up. This seems to be a direct effect of the Golden Visa program and maybe the reason why the Portuguese Government made so many changes on the Golden Visa program this year, in 2021, putting restriction in place so they can minimize the impact it has (some will say the damage) on the property prices in Portugal.
More and more people think that the property market in Portugal is a bubble that is about to burst! But what do you think?
are we sorry that we bought our property in Algarve and didn’t wait?
Me, I am happy that we bought our little apartment in Algarve, not just as an investment property, but mainly for us, because we wanted to live in that place. So even if the prices go down (which I doubt but you can never know) we are happy to be in the place that we want to be.
And this is really my heartfelt advice to you: buy a house in the location you want to be! If you have to choose between décor and location, always choose location!
Yes, there were days when I thought that I made a mistake buying a property with standards way below mine, but in 99% of the time I am glad I chose location over new remodeling. I know that know is rough but when we will be able to remodel the house, it would be truly the perfect one for us.
Read also: – Moving to Portugal in 2021?
If you want to see the properties I researched in Porto vs. the ones I found just outside the city please watch the video dedicated. I dare to say that I make an interesting comment over the properties, or this is what I am told by my YouTube subscribers, who are keep asking for these kind of videos.