The buzzword is widely known: "Location, location, location". This is the answer you will hear from any real estate agent anywhere in the world, if you ask them which factor you should take into consideration the most before buying a house, whether it is a villa or an apartment. That's why two properties with identical characteristics can have completely different prices. The typology, the year of construction, the areas, the state of conservation, the finishings and the exterior surroundings also contribute to the valuation of the property, but the place where the construction is built is the essential point for the investor. The location may represent an increase of over 25% in the property's final price. LUXIMOS Christie's International Real Estate explains why.
In Portugal, the coast is much more valued than the interior of the country, for obvious reasons, which have to do with development, accessibility, the job market, access to reference services such as schools and hospitals, cultural dynamics and proximity to the airport. In the North of Portugal, Porto is by far the best city in which to invest. Recently, the areas of Downtown and Cedofeita have seen their market values reiterated by specialised international publications, but if there is one area of the city that has never stopped increasing in value over the years, before and after the tourism boom, it is the Foz do Douro. Situated by the sea, most of the houses are just a stone's throw from the various beaches along the waterfront and almost always offer stunning views of the sea or the Douro River. In addition, the area is full of restaurants, terraces, markets and shops, all punctuated by luxury. And, in the last few years, it has also seen the birth of a significant number of new developments The area, which stretches as far as Matosinhos an inescapable area for those seeking the highest quality of life.
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In the south of the country, and even of the Iberian Peninsula, the Algarve has never known a competitor capable of dethroning its legendary popularity. The British were probably the first foreigners to fall in love with this region of continuous sunshine, warm beaches, irresistible Mediterranean gastronomy and award-winning golf resorts. They discovered this Portuguese rectangle in the 1970s and have never left it since. But today there is no longer any financially able foreigner in the world who doesn't know exactly where it is Vilamoura, Quinta do Lago or Vale do Lobo. This is where all the investors and families converge to live in luxury houses, inside or outside closed condominiums, in a climate that works miracles for health and in a region where security is unbeatable.
But location is not only about the panoramic geography of the country. A good location also implies looking at the neighbourhood you will find in this or that neighbourhood, the quietness of the streets, the proximity to the workplace, the simple and quick access to public transportation (even if you do not use it, those who eventually work for you may depend on those services) and the surrounding scenario, both in terms of daily life (hospitals, pharmacies, banks, supermarkets, schools) and leisure time (green gardens, playgrounds). Remember that security is the variable that goes hand in hand with location. Therefore, reliable public parking, regardless of the existence of a garage in the building, is an aspect to be taken into account, because it serves as a barometer for the stability of the location.
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Once the location is settled, another essential aspect that influences the price of the property is sun exposure. Before closing a deal, it is essential to ensure that the house you want benefits from natural light for most of the day. The more light it has, the more expensive it will be. Because good exposure to the sun will not only increase your quality of life, it will also prolong the quality of life of the house itself. On the other hand, if it's a question of living in a building, the higher the floor, the more expensive the square metre will be. This is not an illogical whim, but a real increase in family comfort, dictated by the wide views, privacy, absence of noise and pollution, which will result in a lower cost in the maintenance of the property. If it is a penthouse, the most common thing is to have an exclusive balcony, terrace, garden, swimming pool or gym. The fruition areas represent an important part of the price of the property. Moreover, there are developments that offer a cinema room, tennis court or paddle tennis court. Everything counts as an attraction factor. Especially now, in this new life after the pandemic, when people have really started to take advantage and enjoy these condiments.
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