Baixa do Porto and Cedofeita have seen property prices rise as luxury investors seek to capitalize on local areas.
Developed by Berkshire Hathaway HomeServices, the Global Luxury Landscape 2021 report showcases the latest trends in real estate and luxury markets around the world. The report reveals the locations to consider in 2022, identified by agents of the Berkshire Hathaway HomeServices network, around the world.
In a list of 14 must-see places, we find Baixa do Porto, as well as regions like Colli Piacentini, Italy, Puerto Cancún, Mexico, Virginia Beach, United States of America, among other must-see regions in 2022..
The city of Porto, which this year was voted ninth best city in the world by the Time Out Index and second best city in Europe by readers of Condé Nast magazine, is also one of the choices of Berkshire Hathaway HomeServices.
According to the Global Luxury Landscape of 2021, the districts of Baixa do Porto and Cedofeita offer a selection of bars, restaurants and art galleries, as well as palaces built by the nobility in the 19th century. All of these characteristics have helped attract foreign investment, especially from markets like the United States and Israel. These large once abandoned buildings are now being renovated and transformed into charming houses and apartments.
According to Andrés Jennings, of Berkshire Hathway HomeServices Portugal Property: “Baixa and Cedofeita saw a 10% price increase compared to 2014, the year Porto started to see increasing levels of tourism. André Jennings adds that “Porto is a growing city, which appeals to those looking for a relaxed and unpretentious place to live, and where there is still a lot to develop”.
For Pedro Trezentos, operations manager at BHHS Atlantic Portugal: “The city of Porto is a must-see destination and one of the Portuguese stars of the tourism sector. Declared a UNESCO World Heritage Site, the city combines modernity and tradition in a very special way.
“Distinguished several times as the best European destination in recent years, it has become popular not only for tourism but also for real estate investment. Today, with a supply of high quality commercial and residential assets – able to satisfy the needs of the most demanding national and international investors – Porto has consolidated its position in the real estate market and is today the first choice of many investors in Portugal. Known for the authenticity and hospitality of its inhabitants, it offers unparalleled architectural, artistic, cultural, historical and gastronomic riches.