Purchase of real estate is a profitable investment. Portuguese property prices are increasing by an average of 7% per year. And between 2011 and 2020, property prices rose by 50%. We talked about this in the article “How Property Prices Have Changed In The EU Over The Past 10 Years.”
The possibility to return investment is the main advantage of purchasing real estate. The investor owns real estate for five years, then he has the right to sell the object and return the money. If real estate prices in the country continue to grow steadily during the ownership of the objects, the investor will also make money on the difference in value.
Examples of properties in Portugal
Transparency during purchase of real estate. The Portuguese government plans to assign each property with a building identification number, or NIP. Buyers will be able to see all information about the property in real time: from the location of the property to its cadastral value.
The first NIPs will begin to be assigned in the second half of 2022. First, objects located in rural areas will receive identification numbers. Then urban real estate will follow.
From April 4th, 2022, real estate buyers will be able to complete the purchase and sale transaction via videoconference. Such services will be provided by the employees of the Portuguese registry offices.