Prices of renovated apartments soar in Portugal

<h4 class&equals;"fig-chapo">Long plagued by the economic crisis&amp;comma; the Portuguese capital is getting a facelift&amp;period;<&sol;h4>&amp;NewLine;<p class&equals;"fig-chapo">Building sites are multiplying and buyers, particularly from abroad, are flocking to take advantage of Lisbon&amp;period's charm;<&sol;p>&amp;NewLine;<div class&equals;"fig-article-body">&amp;NewLine;<p>What's happening to the city beloved of writer Fernando Pessoa&amp;quest; Workers are renovating entire districts of the capital&amp;comma; and cranes&amp;comma; in ever-increasing numbers&amp;comma; are invading the Lisbon skyline&amp;period; The construction sector is finally recovering from its dark years and prices are soaring&amp;period; "Just eight years ago&amp;comma; with my colleague&amp;comma; we were going door-to-door offering our services&amp;comma; confides Roman Kurtysh&amp;comma; a Ukrainian bricklayer&amp;comma; amazed at the revival of activity&amp;period; At that time&amp;comma; at the end of the month we were making a salary of 53 euros each&amp;period; We were ready to throw in the towel&amp;period;" The turning point came at the beginning of 2014&amp;colon; three years after receiving a European aid package of 78 billion euros in loans&amp;comma; Portugal is beginning to emerge from the economic crisis&amp;period; After these years of decline&amp;comma; the sector's growth &amp;&amp;num;8211&amp;semi; considered exceptional &amp;&amp;num;8211&amp;semi; is largely due to urban regeneration&amp;period;<&sol;p>&amp;NewLine;<h4>A booming market<&sol;h4>&amp;NewLine;<p>With its weathered buildings&amp;comma; the working-class neighborhood of Campo das Cebolas&amp;comma; long off the tourist map&amp;comma; is now enjoying a renaissance&amp;period; A renovated apartment overlooking the Tagus River now fetches over 900&amp;period;000 euros&amp;period; In 2017&amp;comma; real estate prices in Lisbon <span style&equals;"color&colon; &num;0e3347&semi;"><strong>climbed nearly 20 per cent in the fourth quarter<&sol;strong><&sol;span>compared with the same period last year&amp;period; In Porto&amp;comma; <strong><span style&equals;"color&colon; &num;0e3347&semi;">rates jumped by 17&amp;comma;6&amp;percnt; over the same period&amp;period;<&sol;span><&sol;strong><&sol;p>&amp;NewLine;<p><span style&equals;"color&colon; &num;0e3347&semi;"><strong>Across Portugal&amp;comma; the average price per square meter rose year-on-year by 7&amp;comma;6&amp;percnt; in the fourth quarter of 2017&amp;comma; to 932 euros per m²&amp;period;<&sol;strong><&sol;span><&sol;p>&amp;NewLine;<p>Hard to imagine&amp;comma; that before 2013&amp;comma; "one in three buildings was empty&amp;comma; dilapidated or in an advanced state of disrepair" as Luis Mendes reminds us&amp;comma; researcher affiliated with the University of Lisbon&amp;period; This renaissance seems to be the fruit of 3 joint factors&amp;colon; low interest rates&amp;comma; accommodating taxation and an unprecedented influx of tourists&amp;comma; over 20 million in 2017&amp;period;<&sol;p>&amp;NewLine;<h4>A large clientele of retirees<&sol;h4>&amp;NewLine;<p>Popular with the French, of whom there are more than 50,000 in Portugal&amp;period; Lisbon is particularly attractive to retirees, who account for 80&amp;percnt; of the French expatriate contingent&amp;period; For good reason&amp;colon; the city lightened the tax burden of would-be exiles in 2013&amp;period;<&sol;p>&amp;NewLine;<p>For non-European Union nationals&amp;comma; Portuguese tax rules are just as lenient&amp;period; Issued to those prepared to invest at least 500&amp;period;000 euros in the purchase of a property&amp;comma; "goldens visas" are particularly popular with Chinese nationals, and in future&amp;comma; should also be popular with&amp;&amp;num;8230&amp;semi;Britons&amp;period;<&sol;p>&amp;NewLine;<&sol;div>&amp;NewLine;<p>&amp;nbsp&amp;semi;<&sol;p>&amp;NewLine;<blockquote>&amp;NewLine;<h4><span style&equals;"color&colon; &num;0e3347&semi;"><a style&equals;"color&colon; &num;0e3347&semi;" href&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;guide-immobilier-portugal&sol;" target&equals;"&lowbar;blank" rel&equals;"noopener">Buy with peace of mind, even without a real estate agency, with the help of our real estate guide<&sol;a><&sol;span><&sol;h4>&amp;NewLine;<&sol;blockquote>&amp;NewLine;