American Real Estate company places Porto in the list of attractive destinations to invest
Article
Miguel Nogueira
Global Luxury Landscape 2021 report, by Berkshire Hathaway HomeServices, highlights Porto’s downtown as a highly sought after area of growing interest for real estate investment.
In a document that analyses the main trends in the real estate sector in 2021, Berkshire Hathaway HomeServices, a real estate network led by the billionaire Warren Buffett, places Porto in the list of destinations to consider. The publication mentions several Invicta’s attractions.
“There’s a ‘huge’ demand for real estate in the northern area of the dynamic downtown and in the neighbouring area of Cedofeita”, says Andres Jennings, connected to the Portuguese branch of Berkshire Hathaway HomeServices.
Emphasizing that the aforementioned area is home to the Paços do Concelho building, the Global Luxury Landscape 2021 report adds that downtown Porto has a variety of bars, restaurants and art galleries. “The historic and soon to be refurbished Mercado do Bolhão, as well as the palaces and mansions built by the nobility in the 19th century, are attracting foreign investment, namely from the USA and Israel”, the document also states.
“These large buildings, once abandoned, are being refurbished and converted into housing. Real estate prices downtown and in Cedofeita have registered an annual increase of around 10% per year since 2014, when Porto began to have growing numbers in tourism”, says Andres Jennings, concluding: “It’s a city on the rise, appealing to those who are looking for a relaxed and unpretentious place to live, and where there is a lot to develop still.”
Porto is part of a restricted list of 14 locations to be considered in real estate investments, according to an analysis by Berkshire Hathaway HomeServices, in countries such as the USA, Germany, Mexico, Spain, Italy and Canada.
The Invicta was recently elected one of the best cities in Europe in 2021 by Condé Nast Traveler, and Time Out magazine readers chose Foz as one of the “coolest” places in the world in 2021. The same magazine had already placed Porto in ninth position in the world, in the hierarchy of the best cities in the world.