The drop in interest rates will attract British and Irish people, especially retirees, to invest in property in Portugal, according to Ricardo Costa, founder and CEO of LUXIMOS Christie’s. According to the economist, “these investors can benefit not only from a lower cost of living but also from tax incentives and the pleasant climate that the country offers”.

“Portugal has long been considered an attractive real estate market, and with the reduction in interest rates, our country can become even more competitive for international investors, including British and Irish, even though the overwhelming majority of our clients do not depend on bank loans”, says the manager, quoted in a press release.

The CEO of the real estate agency also highlighted that, in the context of lower interest rates, real estate investment appears to be a solid alternative. “Investing in real estate is a safe option, especially in a country with strong tourist popularity and a continuous appreciation of real estate assets”, he adds.