Are you looking to buy a property in Portugal? Should you do it now or wait? An article from Value of Stocks was written (see below) where one expert predicts that Portugal will be the first housing bubble in Europe to burst in 2023. Why? Josh at ExpatsEverywhere breaks down several factors to consider. Is it foreign investment? Low interest rates? Variable vs fixed rates? Let’s take a look!
Portugal Will Be the First European Housing Bubble To Burst in 2023
* ABOUT US *
Josh and Kalie left the US for a life abroad in 2009 and haven’t looked back. They have lived in Spain, South Korea, Saudi Arabia, Singapore, and are currently in Portugal. Yes, they realize they only moved to countries starting with the letter “S” until they spoiled that streak with their move to Portugal. Follow ExpatsEverywhere as we aim to get information to you through expat interviews, city breakdowns, expat life, travel, vlogs, and more.
* D7 VISA FOR PORTUGAL *
We have a course to help DIY the D7 visa for Portugal. The course includes step-by-step videos, checklists, resources, recommendations, discounts, and more. It breaks down the timeline and when and how to do things, plus gives action items to keep you on task but not be overwhelmed. Check it out here: https://expatseverywhere.thinkific.com
* USEFUL RESOURCES *
Below are a list of other services that we use/recommend for living abroad. If you have any questions about them, feel free to email us. Some links we provide we might make a commission and you might receive a discount or promotional offer. We always try to make a deal with companies we like to create a win/win for us and YOU!
* TRANSFER CASH *
Wise (formally TransferWise) | Banking/Transfer Partner (affiliate link) Get free transfer fees (conditions apply) https://transferwise.prf.hn/click/camref:1011lfsFy/ar:channelwide/destination:https%3A%2F%2Ftransferwise.com%2Fc%2Fexpatseverywhere
* WATCH YOUR SHOWS *
SurfShark | VPN Partner (affiliate link) Get 40% off subscription at https://get.surfshark.net/aff_c?offer_id=6&aff_id=5969
*DIGITAL SECURITY*
Protect yourself from the increasing risk of digital crimes with our partner Aura. Use our link https://aura.com/expatseverywhere to get a 2 week free trial to protect yourself from the increasing risk of identity theft and digital crimes. Sign up today and see how many times Aura found your personal information on the dark web.
* YOU NEED THESE FOR YOUR D7 *
Need your NIF and/or bank account for Portugal? Use our special link with Bordr to receive $10 off for each. No code needed. The discount will be applied at check out when using this link: https://www.bordr.io/?via=expatseverywhere
* INSURANCE ABROAD *
Need insurance?
Insured Nomads: https://www.insurednomads.com/?ref=expatseverywhere
*LEARN A LANGUAGE*
Ling is a fun way to learn and practice a language. Use our special link: https://ling-app.com/ling-affilate/?referrer=expatseverywhere
Want something more intense?
Join the journey with Portuguese with Carla: https://journey.portuguesewithcarla.com/offer-collab/?ref=7
Mia Esmeriz Academy
https://school.learn-portuguese.org/courses?affcode=206686_p6olvjck
* FORWARD YOUR MAIL *
Wanting to get your mail forwarded to you while abroad? Use Anytime Mailbox! Be sure to use this specific link when you sign up: https://www.amtrdb32k.com/XTJ86P/55M6S/
* TAXES *
Are you an expat who wants help with your taxes? Use our link here for Taxes for Expats and get $25 off: https://www.taxesforexpats.com/ref/239
* GET IN TOUCH *
Questions? E-mail us at info@expatseverywhere.com
Want more? Go to http://www.expatseverywhere.com
Follow us on Facebook: https://www.facebook.com/expatseverywhere
Follow us on Instagram: https://www.instagram.com/expatseverywhere
Follow us on Twitter: https://twitter.com/expert_expat
Check out our Patreon page: https://www.patreon.com/expatseverywhere
#ExpatsEverywhere
* EXTRA HELP *
Looking for an expat consultant? Check out Expat Empire (https://expatempire.com/) and get 10% off when you tell them that ExpatsEverywhere referred you!
24 Comments
One of the best videos y'all have ever done (and you've done some great videos). Love the animation. Lots of excellent information and data presented clearly and concisely. Agora, vamos nos mexer!
So you make a detailed video on how there will be a housing crisis induced recession that causes us portuguese hard working people to be in the most serious financial situation of the last decade and a half, you confirm that foreigners inflating property prices is a substantial part of the problem, and then you end the video saying you still are going to buy property in Portugal and divulge links so that others do the same?
Capitalism at its finest.
Another bubble market
Passing 5 months and nothing changes…. in fact prices are getting higher and buyers also…..
It is June 2023.
Where is the crash?
Also, the Portuguese sardine economy is not doing that bad.
No problem. Never really liked Portugal…
Unless something really special happens with Portugal, its real estate prices are unsustainable. It used to be many times cheaper to buy or rent (inhabitable) property there in the past, which made sense considering Portuguese wages vs the upper half of Europe's. Now they want almost the same for a house there you'd pay in a much wealthier European country. I went there last November (or December) and I'd not move to Portugal (I'm currently in The Netherlands) even though Brazilian Portuguese is my native language, because I felt I'd still be unable to buy anything over there (and I am talking about smaller cities at the north's extremity, I hear it's even worse as you move towards the South from there or if you want anything near a major city like Porto or Lisbon).
almost july and i'm still waiting
Foreign people moving to Portugal is a factor. But I am surprised you ignored one of the biggest factors, vacation rentals. Because the state takes 28% and short term rentals are much more profitable anyways, and the total lack of a Quota system many houses were converted into air bnbs and whatnot. On top of that you put all the other factors and you have the perfect shitstorm, portuguese flavor.
You mentioned average salary, but most people take way less than that. On top of that add crazy expensive everything, like gas, petrol, electricity, etc and the effort rate of portuguese people is very, very worrisome.
I am all for imigration. I've lived in foreign countries myself several times. But you gotta have mechanisms to prevent locals from being priced out. Nobody can live in Lisbon right now. Who's going to serve all the tourists? Who's going to clean the city? Who's going to drive the busses? Lisbon is a shitshow, Porto the same. And the ridiculous prices in the big cities pushed the prices up in the entire country. We bought an apartment for 53k in 2017, it is worth almost 150k right now and this is 100km from Lisbon… Rent more than doubled too.
cool for once bad for the rich good for the underdog
Video is great, but graphics is very distracting. At 3:41 it takes 10 seconds to draw a graph (with quickly running hand on the screen) that is shown for 1 second. Of course the important part of it is drawn last.
get yourself a fixed rate?!!!… lol… you work for a bank?… Please do a comparison of how much you pay on a loan of 70K in 30 yeras on a fixed rate versus a variable rate… lol… You will pay at least two times the money in fixed rate… Even if you go through two or three financial crisis with increased rates during the 30 years… You just have to make sure you can handle the crisis and you will end up paying a lot less for your loan with variable rate… And thats a fact…
Info-wise this video is good, also the voice/sound is ok. But couldn’t even finish it bc of the annoying hand going up and down. Also the white background isn’t very friendly to the eyes. Too many distractions in this video. Please reconsider a different kind of animation approach with better colours and smother movements next time.
So far, July 2023, no crash😢
The part I believe you got wrong, is that the type of house that is more likely to flood the market, are from the less privileged people, meaning, the type of house foreigners don't want.
The video is incredibly hectic, all the drawings are way too fast on the eye. Not needed at all.
annoying drawing
As an expat wanting to find a place in Portugal, I’m interested in the weather, neighbourhood and area, public transport availability, types of walkable shops, what neighbours I will have, general stability and safety, personal freedom and so many other factors. The relative cost of the house is just one factor, that wi do not wish to put highest on my list.
Very interesting and clear.
Only thing….
the hand is annoying.
Had to only listen and not watch.
Maybe just the drawings better.
I can wait for the crash !
In the mean time I am buying my 2nd property in Brasil at 7 degrees South !
I took a look at the LATITUDE of the Algarve the other day, it was 37 degrees North – about even with Richmond Va or Tulsa Okla.
That is a long distance to warmer weather like even ORLANDO at about 28 degrees N, about the same latitude as me in Brasil but SOUTH
I'd buy something in the S of PT if it returned to the level it was 10 years ago, a T1/T2 selling for about $35,000 eu. Seems totally possible. Nice to have OPTIONS
Most accurate house market analysis I've seen so far about Portugal. Great job.
Thank u so much for the analysis. This is insightful and really useful 🎉❤
prices went crazy last 10 years, I know I just have to wait a little to have better prices. It's going to crash for sure, question is when will be the bottom
that salary for italy is a joke 🤣