Updated: May 2, 2024
Braga, the fourth largest city in Portugal and the capital of the Minho region has long been known for its high quality of life, top-quality gastronomy, and friendly locals. But, in recent years, Braga has reinvented itself as a tech hub and top investment option.
Investment Opportunities in Braga
Braga stands out due to a number of reasons as being a top hub for investors. From real estate to its booming tech scene, here are a few key investment opportunities in Braga.
Dynamic property market
There has been a recent boom in the Braga real estate market, which includes an assortment of luxury properties that are very affordable when compared to equivalent properties in other Western European countries. From spacious county homes to modern apartments, alongside vineyards and equestrian properties, you will find plenty of options. The average asking price for property in Braga currently stands at €1,520 per square meter, highlighting that you should be able to secure a lovely property at a good price.
Given the fact that more digital nomads and young professionals, in addition to students and tourists are setting their sights on Braga, both investments in long term and short-term rentals could be attractive options.
High quality of life
The historic city of Braga has an excellent quality of life, granted as being the best European designation in 2021, and having 97 percent of respondents in a recent study by the European Union stating that they were satisfied to live in Braga, based on infrastructure, equipment, governance, education, housing, environment, safety, and employment.
Braga looks likely to continue to be a go-to place for both locals and expats, showcasing the city as having a bright future and indicating that the city is a good investment choice.
Booming tech scene
The municipality of Braga has long had the mentality to promote the city of Braga as an attractive location for foreign investment and international companies, embracing innovation, sustainability, and the latest technologies.
For example, Braga has invested in sustainable transport options and solar panels throughout the city, and there are now many co-working spaces attracting young professionals, such as Union Coworking and Liberty Hub.
Investors and entrepreneurs are attracted by the low cost of living, strategic location close to Porto, the fact that the Portuguese speak excellent English, and the University of Minho can be found here, one of the best in the country. Alongside this, the time zone is convenient for companies looking to do business with European countries, such as the UK, Germany, and France.
Strategic location
Braga has excellent transportation links, serviced by five motorways, the Francisco Sá Carneiro Airport, 30 minutes away in Porto, and the Port of Leixōes, the largest port in Northern Portugal, just 45 minutes away. Alongside this, you are conveniently located close to Porto, with Lisbon only 3 and a half hours away, and with the Spanish cities of Viga and Madrid, the Spanish capital, also close by.
Investment incentives by the Municipality of Braga
The Municipality of Braga has outlined key plans to foster investment. This vision is to be realized through various support measures and incentives, such as the Exception Scheme for Strategic Projects offered by Via Verde Company, the new Strategic Council for Urban Regeneration, innovative approaches to industrial park management, and the implementation of the Incentive Regulation. Each of these seeks to attract investors and boost Braga’s presence on the international map.
In addition to this, InvestBraga, the Agency for the Economic Dynamization of Braga, which acts as the economic wing of the municipality, has launched initiatives relating to the promotion of economic, business, and cultural development to attract investment in the creation of companies aiming to boost investment into the city and the surrounding area.
Exception Scheme for Strategic Projects
The Exception Scheme for Strategic Projects, for example, aims to frame investments recognzied as being of strategic public interest due to economic and social development, artistic and monumental characteristics, and so on.
To qualify, projects must either:
- Demonstrate high innovative character;
- Investments in culture, health, education, environment, tourism, renewable energy industry, leisure and recreation complexes;
- Generate more than 200 jobs; or
- Involve investment equal to or exceeding €2,000,000.
These strategic projects are expected to be governed by an investment contract between the promoter and the Municipal Chamber of Braga, which will outline the intended investment period.
Strategic Council for Urban Regeneration and other incentives
The Strategic Council for Urban Regeneration (CERPUB) was created to play a vital role in fostering participatory public policy and engaging stakeholders to enhance Braga’s competitiveness and resources, monitoring regeneration efforts, and contributing to the development of rehabilitation plans for the city.
As mentioned above, the municipality is also innovative approaches to industrial park management, and the implementation of the Incentive Regulation.
Why invest in Braga?
While Lisbon and Porto have often stolen the limelight as being the two go-to locations for expats, tourists, and businesses looking to visit or set up shop in Portugal, Braga offers ample opportunities. From a low cost of living, even when compared with Lisbon and Porto, to key incentives for entrepreneurs and companies seeking to open a company, the allure of Braga looks set to only increase in the future.
