Last updated on May 2, 2024 | Est. Reading Time: 2 minutes
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Discover the hidden gems of Porto’s affordable real estate market and make your dream of owning a property in this enchanting city a reality. From charming apartments in need of a loving touch to bank repossession properties ripe for renovation, Porto’s bargain homes are waiting to be transformed into your own slice of Portuguese paradise.
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Color Wheel Information
Color Meaning for Price and Price m²
The BuyProperty Color wheel compares prices from other properties in the same location with the same characteristics and represents prices using our color coding mechanism.
Property is 20% less than average price
Property is 20% above or below average
Property is 20% more than average price
Color Meaning for Rental Rate Yields
We compare properties in the same area with the same characteristics with properties on popular rental websites then combine average rate for the entire year. We multiply the average rental rate by the occupancy to find the estimated yield for each property.
Yield for this property is over 5%
Yield for this property is 3-5%
Yield for this property is below 3%
Holiday rental rates shows average throughout the year. Rate will be more during the summer and less during winter in general. Estimates are based on properties being refurbished as some properties in disrepair will not be able to get rates listed.
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This opportunity is ideal for those seeking to save or generate income while purchasing property in Portugal, whether it's for personal use or on behalf of others.
How do we calculate the distress level of each property?
A distressed property typically belongs to a bank or is set for a government auction. Buyproperty extends this definition by providing a distress and stress percentage for each property across Portugal. Properties in bank ownership or scheduled for government auction receive a distress rating of 100%. Moreover, Buyproperty evaluates the stress level of all other properties using 27 unique data points. These points consider factors such as the length of time the property has been on the market, the frequency of price reductions, the property type, and whether the local area is facing price declines, among others.
Discover the hidden gem of Vila Nova de Gaia, a charming city nestled on the southern bank of the Douro River, offering stunning views of Porto and a unique opportunity for property buyers. Often referred to as Gaia, this is a city in its own right, extending beyond the picturesque riverside that faces Porto’s famous Ribeira district, rather than just another part of Porto. However, it’s so close to Porto, it’s often considered a part of the city.
One of the main advantages of buying property in Vila Nova de Gaia is the opportunity to escape the hustle and bustle of downtown Porto, which can often be crowded with tourists. Gaia offers a more laid-back and peaceful environment while still being well-connected to Porto’s main attractions and amenities through excellent transport links. Neighbourhoods like Canidelo and Madalena offer an even greater sense of peacefulness.
Whether you’re seeking a cozy apartment with stunning views of Porto or a spacious family home in a quiet residential area, Gaia’s real estate market has a wealth of options to choose from. Embrace the chance to experience the best of both worlds – the tranquility of Gaia while being close to the vibrant energy of Porto – by making this charming city your new home.
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