Portugal 6th most affordable country for luxury second homes

• 28 November, 23

A “league table” ranking 20 popular destinations based on their affordability for UK second-home investors has been released by Proven Partners, specialists in luxury real estate marketing.

The rankings considered factors like property prices, taxes, fine-dining costs, premium car hire rates, flight costs from the UK, and potential Airbnb revenue.

The study, underpinned by data from 3,600 luxury property listings on JamesEdition and other sources, assigned each country an “affordability score” out of 10, according to a press release sent to The Portugal News.

Portugal ranks 6th in the league table for luxury second homes, securing a score of 8.5.

“With an average price of a 3-bed waterfront property at €574,479, combined with a moderate tax environment and competitive prices per square foot, Portugal is a compelling investment choice. Its proximity to the UK, with average summer flights costing €183 and a flight time of just 2 hours, adds to its allure for quick escapes”.

Colin Hannan, Co-CEO at Proven Partners said: “Portugal’s blend of beautiful scenery and reasonable property prices offers a great alternative to the UK’s increasing tax burdens.”

Ronan Hannan, Co-CEO at Proven Partners added: “The luxury real estate market is evolving, with steady growth in regions like Portugal.”

He continued: “While traditional destinations remain popular, Portugal represents a blend of value and luxury, appealing to a broader range of investors.”

Cre: Portugalnews