Portuguese Homes: WORTH HOW MUCH IN 10 YEARS??????
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- Опубліковано 2 вер 2023
- A new report asks over 1,400 economists how much property will be worth 10 years from now. The answer for Portugal astounded me!
#livinginportugal #lisbon #lisboa
Increasing interest rate, inflation, the pandemic and the war in Ukraine have put a real damper on home sales in Europe. So when you ask economists from around the world in over 100 different countries what they think will happen with home prices around the world, the answers are something to take notices of
For expats, this is really something to consider when you begin to look at what location you want to call home. Some of these regions will have absolutely astronomical increases in prices and others will not be so lucky
Are you looking at buying a home in Europe during 2023? What factors do you look at: Location, square meters, amenities, neighbourhood? Maybe you should be looking at the findings from this report as well.
#travelingineurope #travelinginportugal #buyingahomeinportugal #buyingahomeineurope #lisbon #porto #shopforhome #househunting #livinginportugal #livingineurope #portugalrealestate #eurorealestate #europeanrealestate #buyingpropertyeurope #buyingpropertyportugal #buyinghome #worldtravelers #worldtravelerseurope #lisboa #expatrealestate #europeanrealestate
I am not a real estate agent or a professional economist. This video is for entertainment purposes only. Please remember to conduct all the necessary research and analysis before you make an important purchase like a home
Sources:
www.ifo.de/en/publications/20...
www.theportugalnews.com/news/...
www.globalpropertyguide.com/e...
the prices of houses in Portugal are totally absurd, they do not worth what owners ask.
I moved here from the U.S. last December, a day late and a dollar short for obtaining a great property at a bargain price. I’ve seen some properties here absurdly priced, especially in Lisbon. It’s definitely no longer a buyer’s market.
My comment is entirely intended to add to the possible reasons that Portugal housing market has surpassed ,in my opnion, reasoning. This information with data provided by portuguse government agencies shows that in a 30 year span separated into 10 year blocks ( 2022- 2012) ( 2011-2001) ( 2000-1991) the housing market in the entire country, Portugal, build an average of 750,000 to 800,000 new dwellings during the first two blocks of 10 years, while during the last block (2022-2012) it only build less than 200,000 . Now, when you combine that factor with the mass interest in tourism, world media and all other positive factors that make Portugal a high quality place to be , we then have the perfect storm. It looks as if it will slowly deflate and those factors will subside with time making the rises in real estate less steep and eventually prices will come down. Prices advertised are one thing , but actual price that is sold for are actually a bit different. The culture in Portugal is that noone sells for less, it's always for more, not reality. Yes, real estate was inexpensive up until the country became the new haven to go to, and those oppressed by decades of it saw it as a chance to cash in..... and the wave is now on the way down. A little more patience and fairer deals are in the horizon.
It's all speculation based on past trends. No one knows what will happen in 10 years. Europe is currently experiencing stagflation. Stagflation is a temporary state followed by a recession. The most perfect quote that explains the state of RE in the western world is: "there is no shortage of housing. It's just being used as mini hotels." This is true for most major US cities and also Lisbon. When people stop traveling as much and tighten their pursestrings, those Airbnbs will come on the market. That could happen soon. When that happens, here is zero chance prices won't decline significantly. High interest rates have already crashed sales. No one is buying right now except for those who can afford to pay all cash. Look at the number of properties for rent in Lisbon. They have doubled in the past couple of months. They are just sitting there and rent prices are being cut every day. Who knows what will happen in 10 years. Absolutely no one can predict this stuff, not the best economists. I can only see what will happen in the next couple of years and I see prices declining with a recession starting later in the fall.
Also, let's all remember that when covid hit economists predicted foreclosures and a huge market crash. The opposite happened.
There is no recovering coming, it's over for the entire west,...and it is by design to usher in their WEF/EU/UN/NATO/Israel/USA Nimrod Plan.
Price increases from 2012 on, were from artificially low interest rates. That is not coming back anytime soon.
Lots of loans in Portugal/ spain are floating rate and when rates increase people will be trying to unload there properties.
Portuguese real estate was very cheap before Portugal was admitted to the European Union, and they had their own currency, the Escudo. It was a financially poor country and the prices reflected that. Today, it is part of the EU and uses the Euro, the prices have drastically inflated due to rich Northern Europeans from Germany, Netherlands, France and the UK bringing their money to Portugal and paying whatever price to get a piece of the Portugal dream.
Need to add in there, due to USA, also
Portugal was Poor back then before it joined the EU. After EU membership, European investment started coming in from Germany, Netherlands, France and other EY countries, which drive prices up, Americans at that time didn’t even know Portugal existed. It is only recently that Americans have caught on from the Europeans that Portugal was a great deal. Unfortunately, it is no longer a great deal.
And, the "green rules order", to make energy unaffordable for even the most obvious and basic needs.
I'd love to hear your take on Madeira in future videos, as its growing so fast.
Isn't that an oxymoron, "Economic experts"? What have they ever gotten right?
Given the end of the NHR, it’s unlikely Portuguese real estate will continue upward. The number of high net worth expats moving to Portugal will probably drop to zero.
What are their adjustable rate mortgages adjusting up to now?
anyone who is looking to retire in Europe needs to visit other countries, the prices in Portugal are way out of line. You can live in a beautiful home with a sea view in a similar size community for far less in southern Italy. Even France has great buys, but certainly Spain. People should travel and explore before you decide to be house poor in Portugal
They are usually choosing PT because the proof of income threshholds are much lower in PT than the other countries. They wouldnt be able to get a residence visa to stay if they cant prove they have enough financially.
@@maryr7593would a person who couldn’t prove a few thousand dollars per month in income be able to afford to buy real estate in Portugal?
o@@maryr7593 The high income thresholds are the EU's last ditch effort to squeeze money from people to pay for their endless overpriced oppressive micromanaging bureaucracies.
A worthless pile of rocks called a "ruin" for 100K Euros, then triple the cost for upgrading it and opening the door to endless bureaucracy to pick your pocket dry, then sit back and enjoy your high cost of overpriced utilities,....rinse and repeat for each chump that this otherwise.