Real estate in Portugal is getting more expensive due to several factors, including:
1. Increased demand: As Portugal becomes an increasingly popular destination for tourism, expats and remote workers, the demand for real estate has been steadily growing, driving up prices.
2. Limited supply: The housing market in Portugal has been slow to catch up with the growing demand, resulting in a limited supply of properties available for sale or rent, contributing to higher prices.
3. Golden Visa program: Portugal's attractive Golden Visa program, which offers residency to non-EU investors who purchase property worth over a certain threshold, has attracted wealthy foreign buyers driving up property values.
4. Low interest rates: The European Central Bank's low interest rates have made it easier for people to get mortgages and finance property purchases, adding to the increased demand and rising prices.
5. Urban regeneration projects: Increased investment in urban regeneration projects, particularly in popular cities like Lisbon and Porto, has contributed to the growth of property values as neighborhoods become more desirable.
Overall, a combination of factors including growing demand, limited supply, attractive investment programs and low interest rates have contributed to the increasing real estate prices in Portugal.
