I returned home from Porto less than two weeks ago and you can really notice that: https://www.youtube.com/watch?v=PsTghAxdNd0
The renewal of the historic centre is a good thing. The flip side is that the inhabitants can't afford to live there anymore.The rents have doubled in the last few years, i was told by a local friend.
Urban rehabilitation in Porto (Video)
Moderators: Glenn E., Roy Hersh, Andy Velebil
Re: Urban rehabilitation in Porto (Video)
A ton of money has been pouring into Porto from other EU countries and my friends tell me it is French investors that are swooping in and grabbing lots of RE property.
Ambition driven by passion, rather than money, is as strong an elixir as is Port. http://www.fortheloveofport.com
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Andy Velebil
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Re: Urban rehabilitation in Porto (Video)
And there are a ton of expensive hotels opening up. Great economic news as there are tons more jobs in the city than there were a decade ago. The flip side is, when this tourist market crashes it's gonna hit the city very hard.
Andy Velebil Good wine is a good familiar creature if it be well used. William Shakespeare http://www.fortheloveofport.com
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Eric Menchen
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Re: Urban rehabilitation in Porto (Video)
When I was there in September I noticed the construction cranes all over the place. And I was bummed that one of the bakeries I used to visit had been replaced by a hotel. While the rents may have gone up, apartment prices still seem reasonable by my Colorado/USA standards. Lisbon apartments, on the other hand, seem nearly 2x as expensive as Porto.
Re: Urban rehabilitation in Porto (Video)
Really Eric? Earlier this year while staying at Lisbon i found there was lots of choices with the apartments and with a very reasonable price. This was still the high season at the end of August and we paid 390 euros for three nights in Chiado, very much in the heart of the city. It was a three bedroom apartment with a small kitchen. Kind of modest but clean and cozy.
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Eric Menchen
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Re: Urban rehabilitation in Porto (Video)
I was referring to purchase prices. Purchase prices for comparable apartments in Lisbon are significantly higher than Porto.Mika H wrote:Really Eric? Earlier this year while staying at Lisbon i found there was lots of choices with the apartments and with a very reasonable price. This was still the high season at the end of August and we paid 390 euros for three nights in Chiado ...
Staying for a few nights or more, which I've done in both Lisbon and Porto, is very reasonable.
Re: Urban rehabilitation in Porto (Video)
Oh yeah, silly me. Sorry about the misunderstanding.Eric Menchen wrote: I was referring to purchase prices. Purchase prices for comparable apartments in Lisbon are significantly higher than Porto.
Staying for a few nights or more, which I've done in both Lisbon and Porto, is very reasonable.