This is Oporto: one of the “best places to live” in Portugal

Real estate in Greater Porto has been experiencing moments of strong dynamism in recent years, and neither the pandemic nor the war in Ukraine seem to be significantly affecting this performance so far, despite the challenges identified in the sector, such as high construction costs, a lack of labour, or rising inflation.

Despite a plethora of developments of both new construction and rehabilitation projects entering the market, the supply of houses continues to be less than demand, particularly demand from Portuguese nationals.

Idealista/news was reporting at Imobinvest – Salão do Imobiliário at Alfândega do Porto, where we went to listen to promoters, builders and mediators to mark the pulse of the Greater Porto market, one of the best places to live and invest in the country.

“We are seeing growth in both promotion and construction of new developments,” confirms Rita Apolinário, responsible for business at Habita, a mediation company operating in Porto.

And this is re-iterated by Susana Rodas, Director of Marketing & Sales for Antas Atrium at Albatross/Quantico, who notes that: “The market has benefitted from growing demand, both in the residential market and the tourist market, increasing demand for second homes, investment property, local accommodation, and leasing, thus contributing to the renovation of the local real estate park”.

Source: Idealista