Portugals Luxury Porto Property Picks Up
Despite being one of the first countries to suffer problems in the eurozone crisis, Portugal, along with Ireland, seems to be making headway in its recovery phase.
The city of Porto has long ranked alongside Lisbon in its own country and the likes of Madrid and Barcelona in neighbouring Spain when it comes to cultural and historical influence on the whole Iberian Peninsula.
As a destination for tourism, Porto has also retained a long lasting appeal, but when it comes to property purchases it is the higher ends of the market that are the most active.
Luxury online property portal FinestGlobal.com specialises in highlighting what is going on in the more expensive side of international property news, and has plenty to say about the current conditions in the city.
As the second biggest urban area in Portugal, Porto is a global city according to the World Cities Study Group rankings. Its historic location on the Douro river helped it to attain UNESCO World Heritage Site status.
The quality of the luxury properties on offer in the city is the result of it being an industrial centre for Portugal, with an importance in the overall economy of the country that is rivalled only by Lisbon.
The wealth of the city’s business operations means that many companies and wealthy investors have bases there and consequently prices remain stable and rental yields attractive.
Porto was recently ranked the third most livable city in the world by Expresso and the wealth of cultural treasures combined with the historic attractions based around the UNESCO World Heritage Site mean that it has plenty of pulling power when it comes to attracting tourists.
A clement Mediterranean climate and good international travel connections only add to the attractions the city has for international investors, who are now increasingly coming from further afield than the rest of Europe.
If you are interested in investing in Porto and need to move funds to Portugal you should compare travel money exchange rates as you are likely to find that using a currency exchange specialist is cheaper than going to the banks.