Berkshire Hathaway HomeServices, a company of Us billionaire Warren Buffett, recently released the European Summer Market Report, where it explored market dynamics, geopolitical events, global financing conditions and investment opportunities from Greece, Italy, Portugal, Spain and the United Kingdom.
About Portugal, the report states that it has been an attractive destination for travelers looking to sunbathe for some time, taking into account our weather, the cost of living and the natural beauty of the country. However, it is currently even more sought after to get a second dwelling.
“The best time to invest in the Portuguese market is now,” said Berkshire Hathaway HomeServices Portugal Property CEO Michael Vincent.
In detailing the various positive points of the country, the person responsible began by referring to the fact that we are the sixth safest site in the world according to the Global Peace Index 2022 and the particularity of having an average of 300 days of sunshine per year. “Of course, foreign demand for Portugal will not slow down soon.”
However, the official warns that the conditions affecting Europe and the rest of the world, “increased construction costs, sanctions on Russia and the pandemic – have led to an increase in house costs”, which, despite all, has not harmed demand.
And why are buyers so interested in Portugal? Joe Pyke, managing director of Berkshire Hathaway HomeServices Portugal Property explains.
“We are seeing buyers from all over Europe and particularly the UK, especially since the English language is very much spoken,” said US buyers.
In conclusion, the analysis also refers to low interest rates, compared to other countries, and the fact that Portugal is also becoming an important technological hub for several startups.
Por Mariana da Silva Godinho
12:07, 25 Ago 2022
Translation by google
