Prime property is also substantially cheaper than other European capitals. “Prime residential is at an average of €14,600 per square metre. That’s significantly below, say, Paris at €19,000 or London at €18,200.”
That works out at €1.314m for a prime 90 sq metre two-bed apartment. However, investors with smaller budgets (such as €300,000-€500,000) can still pick up more modest apartments in the city.
Portugal no longer offers a golden visa for property investors (which now focuses on investment in funds or job creation). But, while there might not be any tax breaks to tempt UK investors, the buying process at least remains straightforward, she added. “There’s no barrier to entry as a foreign buyer.”
Cyprus
Another option for investors who also want a holiday bolt hole is Cyprus, said Ignatius.
“West Cyprus, especially around the Paphos district, is still drawing strong interest from international buyers who are looking for a great lifestyle and solid long-term investment potential.”
The area offers an attractive mix for overseas buyers: rental income potential, capital growth and lifestyle benefits.
