Luximos Christie's International Real Estate

Has your son entered university? Buy a house and save money!

Has your son entered university? Buy a house and save money!

Entering higher education is a joy but changing cities is a challenge.

The biggest trial of all is to find a residence to live in. We have a solution.

 

In this first phase of the National Competition for Access to Higher Education 51 thousand students entered Portuguese universities. And perhaps your son was one of the lucky ones. The good news is accompanied by the enormous challenge of changing cities and finding an apartment to live in. Not only is the demand greater than the supply, but the price of renting rooms has been rising for several years running. In 2019, for example, the average monthly value of rooms in Porto increased to 320 euros, 4.6% more than in 2018. And this year it is precisely the city of Porto which, in global terms, is experiencing the biggest increase in demand: 16% of the university population wants to rent a room.

The housing shortage is a problem for families. To understand the scale of this shortage, it is enough to think that in Porto - the University has the highest average access ratings (Bioengineering, with 186.5 figures is this year's leading course), obtaining 1.74 candidates for each vacancy (6,999 students for 4,031 vacancies) - there are 23,000 students moved to just 1500 beds in public accommodation. The beds will not increase and in the second national phase of the competition, whose results will be known 15th October, a further 6050 students will be admitted. Private higher education also makes this statistic grow by contributing to the admission of 38,000 students. The solution will therefore have to pass, necessarily, through the private real estate offer.

It is then necessary to take stock and reflect on the future: do you want to put your child to live alone? In a shared house? In a room? Near the university, so that you can walk? Further away, using public transport? In all these questions, you will not be able to ignore two variables: the price of property and the contingencies of the pandemic. In this sense, it is worth considering buying a house instead of renting a room. This is not a good investment in the medium and long term; it is an excellent investment that you can make today, with two crucial immediate benefits: income and security.

Most new university students are leaving their parents home for the first time. The discovery of a new world is as attractive to young people as it is a source of apprehension for families, so the first factor to consider is precisely security. Getting to know the city and the university environment is fundamental. Explore nearby services such as grocery stores, cafes, pharmacies, ATM’s as well. This territorial exploitation should define the residential neighbourhood, including the type of neighbourhood, that parents will choose for their children in this new stage of life. This is why being able to benefit from a real estate agency with the highest ethical standards, attested to by experience and longevity in the market, is the key to this sought after security. Remember that this year's security also includes caring for the pandemic crisis, which means living in smaller groups, also indoors; and greater peace of mind, so that you can successfully attend classes at a distance.

 

 

 

Related: Investments in the real estate market in times of COVID-19

 

LUXIMOS Christie's International Real Estate, which is the most credible company in this sector in the North of Portugal, with offices in Porto and also in the Algarve, has a large team that can help you turn a difficulty into a solution, whether it is looking for a home, choosing a neighbourhood that is 100% safe and effective from the point of view of the needs of a university student, or advising on the value of the property.

The best way is to choose the type of property you want to invest in and not the type of room or house, which is often shared with strangers.

 

Related:  Places to discover before buying a house in Porto

 

If the idea is to install your child in a house to live alone, there is a range of high quality and central 1-bedroom apartments that can speed up your entire academic life. New, functional and spacious apartments in Downtown Porto or apartments closer to the riverbank, with river views. But if the idea is, at the same time, to create an income, allowing, for example, your child to choose one or two people to rent rooms to, the options for 2-bedroom’s apartments or 3-bedroom’s apartments are the most advisable.

Remember that the cities of Matosinhos and Gaia , both served by the metro network, are also options to consider.

Accept LUXIMOS Christie's advisement free, with no obligation before making a decision and bet on a solution that will benefit the whole family. With the right home, with the certainty that you have your child rested and well settled in a safe home that the family can visit, and having invested in a property that will later be able to profit in other ways, you will see that it was worth it.

 

Related: World press elects Portugal to live after the pandemic

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