Nexus, Porto
- Properties From $416,000
- Tenure: Freehold
- Estimated Rental Return: 3%
- Completion: Q4 2023
- The Financial Times placed Porto at the top of the European Cities and Regions of the Future in 2023.
- Porto has recently been hailed as the third fastest-growing European tech hub and the “best start-up friendly city of Europe”.
- The cost of living, low violence rates, and warm climate in Porto and Northern Portugal are luring entrepreneurs, digital nomads, and investors from around the world.
- Porto is a three-time winner of the European Best Destination Award which it obtained in 2012, 2014, and 2017.
- The city of Porto leads both in terms of rent per square meter, which was €14.9 in January 2023, and in terms of growth rate (11.9% in 3 months and 36.6% for the year).
The Property
The development consists of a refurbished palace in the historic center of Porto, perpetuating the urban architecture design of the 15th century, and adding the quality, refinement, and comfort of the 21st century. The project will consist of 16 high-end residential units. The apartments vary between 232 and 472 square feet, with one and two bedrooms. All residential units can be sold completely decorated and furnished and include air conditioning, double glazing, and fully equipped kitchens. An optional management company is also available.
- Centrally located
- Furniture packs available
- Renovated Palace
Why Portugal?
- 65 million visitors per year
- House Price Growth 13.1% (2022)
- Inward Migration 750,000 (2022)
Due to a tourism boom, demand continues to outstrip supply, leading to price increases in both the rental and sales sector. Forbes magazine recently voted Portugal the number 1 place to retire due to its low cost of living, fabulous way of life and attractive tax benefits for foreign residents. 750,000 people made Portugal their new home last year. Although it has a population of only 10.5 million, Portugal receives 65 million visitors per year. Porto’s popularity as a tourist destination has been growing rapidly, attracting visitors from all over the world. The city is known for its rich history, stunning architecture, vibrant culture, and renowned Port wine production. The increase in tourism has led to a surge in demand for short-term rental properties, such as vacation rentals and Airbnb accommodations.
Est. Return
- Occupancy Rates: 78%*
- Est Revenue: $38,300*
- *Based on AirBnB data
Location
The historic city of Porto is one of the oldest cities in Europe. Unesco elevated the city center to World Heritage Status in 1996. The region is known worldwide for its wines. The development is located in the oldest part of the city of Porto, right next to the São Bento station and the Dom Luís I Bridge. The main tourist attractions in Porto are all within walking distance. Located in the historic area of the city, this property is surrounded by traditional shops and various tourist and cultural attractions, such as the Museu das Marionetas do Porto, the Palácio das Artes, the Museu do Porto Treasury of the Cathedral of Porto, the Museum of Sacred Art and Archeology, Praça da Ribeira, and leisure areas such as Praça do Infante D. Henrique. There is a vast transport network, restaurants, supermarkets and schools available.
Contact us
Thank you for your interest in Gateway Investors. Contact us and we will get back to you as soon as possible.
