As Portugal's second-largest city, Porto has a rich culture and is a UNESCO World Heritage Site. It has been voted "Best Europe" destination in 2014, 2016, and 2017, and is also one of Europe's most popular tourist destinations, with over 9 million visitors each year.
ECONOMY
1.7M live in the Porto Metro area. Porto and NW of Portugal have 4.2M in population, representing only 20% of the country’s territory but 37% of its GDP.
Porto’s economic revival is driven by tourism, entrepreneurship and foreign investment* where it position itself at the forefront of technology having more than 550 startups and +10 unicorns.
In 2022 companies’ foreign investment exceeded 1.1B euros creating ~6500 new jobs in Porto area. According to Financial Times’ 2023 edition of the European Cities -Porto is Europe's best large city for FDI (foreign direct investment) strategy - creating +22k new jobs over the last 5 years.
There are more than 2250 companies HQ controlled by foreign owners such as Natixis, Euronext, Continental, Vestas, Kantar, TeamViewer, Talkdesk, Bosch, BNP Paribas, FedEx, Oracle and Maersk, as well as international joint ventures, like the innovation center of Critical Techworks, an IT joint venture between BMW and the Portuguese company Critical Software.
INFRASTRUCTURE
Porto's excellent infrastructure includes an international airport, seaport, modern highway systems, as well as a high-speed rail link to Lisbon. The city’s strategic time zone and easy access to the EU market have also made it a relevant nearshore location in Europe.
ALLURING LUXURY SEGMENT
Porto is becoming top destination for luxury real estate in general and #1 for Americans, ranked top 10 markets in the world ahead of Zurich, Cannes, Hapmtons and more.
BUYERS PURCHASE POWER
The average salary in Porto x 1.65 higher than country average – 31.5k vs 19k. Compared to Lisbon, Porto’s real estate price to income ratio is significantly lower- 8.2 vs 19.5 respectively.
BUYERS PURCHASE POWER
The average salary in Porto x 1.65 higher than country average – 31.5k vs 19k. Compared to Lisbon, Porto’s real estate price to income ratio is significantly lower- 8.2 vs 19.5 respectively.
All these factors have made Porto one of the most attractive real estate markets in Europe and a very attractive destination for the upper- mid / high end markets.
