Rental: JLL study points to the riverside and Foz areas as the best to invest in Porto
The areas of the riverside and sea axis, such as Lordelo do Ouro, Massarelos, Foz, Nevogilde are identified by the consultancy JLL as the most appealing for owners who place their houses on the residential rental market in Porto.
The data are contained in a study called "Investing in the Rental Market”, which highlights the competitiveness of real estate vis-à-vis other asset classes, by presenting higher and more stable medium and long term returns, in addition to the behavior of investment profitability in residential assets, highlighting their stability and resilience, even in times of crisis.
In Porto, an average absorption rate of less than 3 months is observed, which reveals an enormous demand. JLL also highlights an average profitability higher than Lisbon, situated above 4% in most of the territory. The area of the riverside and Foz are the most attractive for investment in rental, showing the highest prime rents in the city and also a higher average household income.
"This study is intended to be a guide for anyone looking at residential real estate as a form of savings in a medium and long-term perspective. Here we pose the basic questions for those who want to earn income from residential leasing, namely what are the best areas to invest? Who is renting and at what prices? And finally, we recommend to anyone who wants to invest in this market, what type of house they should look for according to their goals and the trends that are emerging in demand”, explains Maria Empis, Head of Strategic Solutions at JLL.