Porto
Located along the Douro River estuary in northern Portugal, Porto is Portugal’s second-biggest city and one of the oldest European cities. The western part of its urban area extends to the Atlantic Ocean coastline.
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Porto dates back many centuries when it was an outpost of the Roman Empire. Port wine, one of Portugal’s most famous exports, is named after Porto, from many centuries ago.
WHY INVEST IN PORTO
Porto is Portugal’s thriving second city with a large UNESCO world heritage site and a world known wine industry. Porto has a unique mix of architecture, history, culture and a modern young population. In recent years there has been a 300% increase in jobs created by foreign companies. Porto has been ranked as Europe’s most friendly start up city with many companies investing in the city. Porto has become an attractive technology hub.
HOUSING MARKET
In recent years house prices and rentals in Porto have increased with prices in the historic city centre doubling since 2014. As with many Portuguese cities, Porto suffers from a huge housing undersupply and house prices will continue to rise. The annual growth in house prices had risen 19% by Q1 2020. Despite rising prices property in Porto still is more affordable than in Lisbon.
EDUCATION
Porto has the highest number of students in higher education in the country with 72,000 students attending some of Portugal’s best universities. The high number of highly skilled graduates has increased Porto’s importance as a start-up area.
REGENERATION
In recent years there have been major redevelopment projects in the city, with new roads and universities. Many old buildings have been refurbished and rejuvenated the historic city centre.
