Hey everyone! Do people here happen to have insight into price trends/appreciation of real estate in and around Evora? I’m considering doing a GV investment in Portugal at the lowest threshold of 280k and Evora seems to be the main city-ish area left that qualifies based on the latest legislation changes (though I realize Evora is no Lisbon and not even Coimbra/Braga). Is it a relatively safe area to invest? Are there other areas I should consider? Thanks all in advance. 
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I laid out our reasons for investing in Evora City Center in this thread Here
I do not think there are slam dunk areas to invest to get a rate of return both on the income side for rentals as well as appreciation. You can go to
and see what homes are going for, you can see what they rent for as well there. You can also get properties appraised independently. And if you do a 280k euro investment, you’ll have to put a considerable amount of money into renovations as well as find people to do the renovations and manage the property for you. Those costs and impacts are harder to calculate. It’s sort of like trying to flip a house. Sometimes they work out well, sometimes less so.
But you also have a 6+ year time horizon (and you presumably want to make money from renting it out too), there are no guarantees
if you do it on your own. Also, who knows what inflation and geopolitical impacts things will have as well as local factors. If I were not interested in the GV, I can’t say I would have invested here, but for us, Evora seemed pretty safe as a GV investment. But there were other areas to consider as well. If investments were super easy and you knew you would make money, others would have likely already done so.
You also have some of the bigger named developers coming to Evora, so we thought that was a positive factor too. But I urge you to do lots of research on the areas of interest to you, talk to buyers agent real estate agents, property managers, and architects/construction companies if you are considering going this route.
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Hope to see whether Davit found anyhting good for 280k in Evora. Can share the experience as reference e.g.how to find trustworthy constructor for renovations and approximately how long it took to complete the work and lease out. Any good neighborhood to recommend etc. Thank you for your help in advance.
We found a 3 bedroom apartment in the city center in May2023. Total cost was around EUR320K.
Refurbishment was completed in October and the apartment was leased in December 2023.
We found a very efficient realtor and property manager, and a contractor who completed the work, despite the holiday season in Portugal reasonably within the scheduled timeline.
Hi AJ - I bought a 2-BR in Evora city center last June and am still waiting for the rehab construction to start. Would love to know who you’re using for property management if it’s been a good experience. I’ve been intending do a short-term rental strategy which seems like generates more income, so curious if you weighed both options and how you arrived at going with a long-term lease?
Hi Matt, I know some others who also invested in Evora and had a similar long wait for refurbishment to start, due to long clearance and approval processes. I will message you directly contacts of the property management guy who handles my apartment.
I did think about short term rentals. They do have the potential for higher returns at the cost of much higher investment in time and process management. Another option is rental to multiple tenants (students mainly) for one apartment. This has slightly higher returns than a long term lease, and annual churn. I opted for a long term lease as this is lower risk / less time intensive option. The absolute monetary value of the differences between the options would not be too large.
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Thanks AJ - appreciate the color from your experience. The entrepreneur who put together the full package for me (found and flipped me the house and coordinated the construction contract) will handle the management for either a percentage of the income of at a flat rate and recommends short-term furnished for AirBnB or Booking, but would be good to get a second opinion. One benefit of a long-term situation is that I wouldn’t need to furnish the place, which sounds like a lot of hassle.