Portugal started to ease lockdown measures from Monday 4th May with a three phase plan to reopen the country’s economy. Joao Fernandez, the Head of Algarve Regional Tourism Board predicts that international interest will resume as of mid June; visitors from both inside and outside of Portugal will seek a getaway once restrictions are lessened across Portugal’s popular tourist destinations. Beaches are set to open in June with health regulations in place to ensure visitor safety is paramount and with the Algarve experiencing little effects from the Coronavirus, this places the region in an ideal position to slowly open its economic and social activities.
Since the gradual reopening of Portugal’s economy, Imovirtual has reported a significant increase in user traffic across its property portal. These findings come hand in hand with airlines such as WizzAir and Ryanair announcing that they will be resuming flights to and from Portugal from June (WizzAir) and July (Ryanair).
Data shows that user traffic increased by 38% for the 7 days ending May 19th vs. the same period in April. In the same period, users from the United Kingdom increased by 34%, Brazil +41% and Switzerland +3%. Those who have visited Imovirtual’s property portal are actively searching for rental property in Lisbon, Faro, Porto and Braga - all of which have reported a decline in rental property prices, making them affordable destinations to visit and relocate to.
This is encouraging for the travel industry in Portugal, especially during a period of uncertainty. Such data suggests that prospective visitors are confident in returning to Europe’s hotspot with the intention to ensure 2020 does see a summer holiday season. With airports such as Faro International Airport enforcing vigilant health and safety measures, Portugal has the potential to welcome holidaymakers from near, far and wide.
For rental property in Portugal, please visit: https://www.imovirtual.com/en/
For average rental property prices, please visit: https://www.imovirtual.com/noticias/atualidade/real-estate-market-in-numbers-april-monthly-barometer-id247.html
