I am an investor and looking for potential properties to purchases for renovation in the Greater Lisbon area. I heard there maybe an airport in Montijo over the next few years. This would be a big boom for the Setubal side of the Tejo River. Do you know if this is still happening or just a maybe?
Hey Mitchel. The airport currently is being discussed by the enviromental protection agency (Agência Portuguesa do Ambiente) here in Portugal. They have provider their study to the âmbito do Estudo de Impacte Ambienta (EIA) earlier this month. They should have a decision in 30-days. The Prime Minister says the plan will move forward unless the findings from the Agency show there are problems.
I have friends on that side of the river who have worked at the Airbase there. They tell me the bird migration in that area would greatly hinder any development of a major airport. Along with that we are talking 5-10 years of construction. The current airport in Lisboa is planning an expansion by 2028. So again lots of economical changes can happen between then an now.
Investment wise I think a better place for your real estate speculation dollars would be in Lisboa itself. You can also join larger development projects just google around for Portugal REITS. Bonne chance
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