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Investing in Portugal: the most attractive sectors Palsul -Grup informs:
The Portuguese economy is going through a good moment. Sectors such as tourism or real estate have been the main drivers of economic recovery, but they are not the only ones. Discover the sectors that are attracting more attention from those investing in Portugal.
More and more foreigners are choosing Portugal to live. The quality of life in the country and the opportunities created by the recovery of the national economy are a real attraction for those who want to change their lives. If you are thinking of moving and investing in Portugal, find out which sectors have benefited the most from the economic cycle.
After times of crisis, the national economy accelerated in 2017 and the expectation is that Portugal will maintain the positive evolution. According to Banco de Portugal, forecasts, the gross domestic product (GDP) is expected to grow 1.9% in 2019, essentially supported by the strong recovery in real estate and tourism prices, the two sectors that have attracted the greatest interest from those who want invest in Portugal.
Home prices have increased to unprecedented levels, with growth rates above 10% since the third quarter of 2017. The house price index has been growing since the last quarter of 2013, benefiting from the growing demand, mainly from the part of foreign. In terms of regions, it is in large urban centers such as Lisbon and Porto that the most valuable properties are found.
The country's greater attractiveness as a destination for housing and work, associated with banks' greater willingness to finance mortgage loans, should continue to support the rise in prices, especially in areas where valuations rose less. Therefore, even though the margin for earnings is now lower, real estate remains one of the hot sectors to invest in Portugal.
Tourism is another sector that has attracted more interest from those who want to invest in Portugal. In 2018, Portugal surpassed the target of 21 million tourists for the first time and continues to be one of the most sought after destinations. The revenue generated by tourism in the country, in 2017, reached 17 billion dollars (approximately 15 billion euros), even managing to surpass Greece and reaching fourth place among southern European countries, according to the Organização Mundial do Turismo. Thus, investments in local accommodation or other tourism-related projects continue to prove profitable.
Renewable energies are increasingly in fashion. The growing awareness of the need to develop alternatives to polluting energy sources, such as oil, has accelerated the growth of the renewable energy market in Portugal. And the country has excellent weather conditions to bet on in this sector: from the strength of the wind, the sun or the waves of the sea.
For this reason, energy is one of the sectors that has proven to be the most attractive for those who want to invest in Portugal. You can choose to become a micro energy producer and sell to the grid, or invest in the purchase of solar or photovoltaic panels. The return on investment comes in timeo, but it is frankly positive.
Agriculture is also one of the pillars of this new wave of those investing in Portugal. Conditions in the country are very favorable for various productions, from olive oil to wine production, two of the most sought after national products abroad. The famous port wine is a Portuguese brand in the world, but the potential of the national agricultural exploration goes far beyond. And more and more people are betting on the agriculture sector. There are several community supports to finance agricultural projects, namely in the scope of Portugal 2020.
In a less traditional segment, information technologies have registered strong growth in the national market in recent years. There are many companies moving these activities to the country, in order to benefit from the advances made in this area and the skills in the country. This is, therefore, another hot market for those looking to invest in Portugal. Just be creative and enter this competitive market.