Ask the Expert: Buying property in Lisbon.
05 December 2016
Lisbon. The capital and the largest city of Portugal, with its cobbled streets, tantalizing restaurants and brightly coloured buildings, will instantly captivate you. I returned last week from this beautiful city, my fourth visit in a year and every trip delights me further. It has a modern, urban feel with excellent transport links, shops, markets, an active nightlife and Fado houses, but also an array of history with its churches, palaces and castles. The year-round temperate weather means Lisbon is always a vibrant hub. Not just for city lovers though, as within a short drive you will find white sand beaches you might mistake for the Caribbean, such as those on the Troia peninsula.
Overseas property investors should investigate this city, if they haven’t already, it’s thriving. A surge of foreign investors flock to Lisbon each year attracted by affordable property prices with lower prices per square meter than most other European cities, including within the prime locations of Lisbon. In addition, the rental returns are strong and easily achieved and buyers are experiencing outstanding rates of capital appreciation as the value of their properties skyrocket. Prices rose 22% in 2015, a trend continuing in 2016. With Savills predicting that property in Lisbon will be one of Europe’s best performing asset class well into the next decade, this is a market on the rise and demand is strong.
One of the biggest reasons driving foreign investors is the favourable tax regime. The Non-Habitual Tax Residency Regime (NHR), offers a range of tax benefits to investors looking to manage their financial affairs. This makes Portugal one of the most tax attractive European environments and is drawing in investors from Britain, France, Scandinavia and Belgium to name a few. Those moving to Portugal can be assured of a good standard of living, a country that is part of the EU and offers a stable political and social environment. For families, there are a plethora of private and public international schools, along with two top ranked universities for those wishing to pursue tertiary education.
If Lisbon or any other European destination whets your appetite or you would like more information on the NHR regime do contact us. Wherever and whenever you buy abroad, I cannot highlight enough the importance of purchasing through a reputable and credible agent who will guide you through the process before and after and give you trustworthy advice. We at Select Resorts Properties pride ourselves on our knowledge and professionalism; with over 30 years’ experience in selling property and the only UK International Savills Associate office, you truly can Ask The Expert.