Jun 22, 2018
Buy-to-let properties are trending anywhere you happen to be on earth, however, there are some places where they are in more demand than others. Even so, who would even imagine that Porto, Portugal would be a place where high-end buy to let properties would be so popular? It’s not like this historic city is on the French Riviera or a tropical paradise of some sort. So why is this city on the Douro River so enticing? Here are a few reasons why Porto real estate is so highly prized.
Popular Tourist Destination in Northern Portugal
While you may not consider Portugal to be a popular tourist attraction, there are some portions of the country that deem it perfect for visitors seeking something a little out of the ordinary. Not only is Porto a quaint destination architecturally but it is also quite modern in its lifestyle. It is set against the backdrop of the Douro River with its many daily boat tours, but you can still see historic Rabelo boats holding casks of port wine which at one time were only transported on these vessels.
That leads us to another of the reasons why Porto is so popular. Anyone on a wine tasting tour usually stops in Porto because it is the home of port wine. Those who are here to taste wine must stop at the Calem and Croft Port Wineries and the Ferreira Wine Cellar or they will be missing out on some of Portugal’s best port wines.
Proximity to Two of the Top Four Universities in Portugal
Did you know that the city of Porto is home to one of the four leading universities in Portugal? This is reason enough to make a stop here if you are looking at a university before making an application. However, Porto is only about an hour from Coimbra where another of the top four Portuguese universities is located.
Parents of students enrolled in Coimbra often choose not to stay with their son or daughter in the luxury student accommodation Coimbra is renowned for, such as Collegiate's accommodation for Coimbra students, but would rather stay in a luxury home of their own. Although parents want to have a holiday home near where their young scholars are studying, they also see the benefit of letting out high-end properties on those dates they will not be in residence. These rents eventually pay for the home and so the ROI is more than could be expected elsewhere.
Offsetting the Cost of High-End Properties
In the end, whether you are seeking a holiday home for yourself or as a buy-to-let property in a city with a high demand for holiday rentals, the return on your investment is better than many areas of the country. As mentioned above, there are at least two very good reasons for this. Not only is Porto the birthplace of port wine but it is also near two major universities. Therefore, even on ‘off season,’ rentals here are in great demand. In the end, it’s all about ROI and if you choose a lovely home in Porto, you’ll get more for your money than in most other cities in the entire country.