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Porto 'is perfect' for an expatriate

One of Portugal’s most-famous cities has been highlighted as the perfect foreign investment opportunity for an expatriate, the Times newspaper has revealed.

The country’s second city, Porto, is home to some of Portugal’s best property deals, while significant infrastructure work is also set to boost its tourism potential.

Along with development which will improve air access, transport and hotels, the city is also said to offer significantly lower prices than the capital Lisbon, making it better value for money.

A consultant with CB Richard Ellis, Jose Maria Magalhaes, told the Times: "Prices are at least 25 per cent less than Lisbon, sometimes going as low as half the price.

"This is a growing market because the old town is still quite cheap, particularly compared to Lisbon."

He added that many of Porto’s older buildings were being refurbished as part of a major "urban rehabilitation" plant, adding to the amount of choice available to foreign investors.

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