Portugal: Lisbon undergoing renovation
The attraction of the city makes, since a few years, burn real estate price and the renovations of the former buildings do not stop anymore! An apartment renovated with a view of the river The Tagus is worth from now on sometimes more than 8000 €/m ². In 2017, real estate prices in Lisbon soared of about 20 % a fourth quarter, with regard to the same period previous year.
Difficult to imagine that 5 years ago a building on 3 was empty and dilapidated. This revival seems to be the fruit of 3 joint factors: low interest rates, accommodating tax system and tourists’ influx without the precedent more than 20 millions in 2017.
Lisbon seduces particularly the retired people who represent 80 % of the contingent of expatriates of the hexagon but not that … More and more young families come to settle down there! For cause: the city relieved the fiscal burden of the candidates for the exile in 2013. The European retired people of the private sector who arrive to Portugal are tax-exempt on their pensions perceived in their country of origin during ten years, on the condition of not having lived in it on the previous five years. For the nationals except European Union, the Portuguese tax system is quite also clement.