In the past days I’ve been reading articles in the Portuguese press proving that « the captation of foreign buyers keeps being absolutely necessary not only for the Portuguese real estate industry, but for the whole national economy» – in the words of Hugo Santos Ferreira, the secretary-general of the national association of home builders and real estate investors.
How big are foreign buyers in the Portuguese real estate market ?
According to Idealista.pt, real estate transactions in Portugal amounted to 18.1 billion euros in 2016. Out of that 18.1 billion, 4 billion euros were transactions made by foreign buyers, which is an astonishing 22% !
In 2015 those figures were respectively 15 billion and 3.3 billion, which again means 22% of foreign buyers.
Sapo, a leading media group in Portugal which owns CasaSapo, one of the leading property portals, published an article in September 2016 stating that « per nationality, the French (with 25%) keep being the biggest group of foreign buyers in Portugal. Follow the British, with 19%, and the Brazilians, with 10%. »
What are the favorite destinations of foreign buyers in Portugal ?
« Algarve still is the prefered destination of British investors, while Lisbon and Porto are the main cities where the French and the Brazilians buy » says Luis Lima, President of the equivalent of the National Association of Realtors (Associação dos Profissionais e Empresas de Mediação Imobiliária de Portugal)
More details in this article https://foreignbuyerswatch.com/2016/05/23/foreign-buyers-in-portugal-french-british-chinese-buyers-in-love-with-portuguese-real-estate/ about why foreigners are so interested in Portugal, and which countries they come from.
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