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PROPERTY: French and British, first buyers on the Portugal’s property market

While the Portuguese property market is growing, foreign investors do not seem to lose interest in this real estate El Dorado.

The first semester of 2017 saw strong growth in Portuguese property prices and sales volume. Although the offer is falling and prices are rising, Portugal remains a very attractive country to buy a property in Portugal, especially for international investors.

Several reasons explain this foreign buyers’ interest. Firstly, even if they are increasing, prices are still attractive for many investors (from the United States, China, France or Great Britain). Then, the standard of living in Portugal, the quality of life and the bilateral agreements (which grant many tax advantages) are all good reasons to invest in Portugal and to buy a property in Algarve, in Lisbon or Porto.

In 2016, foreign investors made 23 % of real estate transactions in Portugal (APEMIP). The French are first on the non-residents property market and represent 25% of these investors, followed by The British (19%), Brazilians (10%), Swiss and Chinese.

In Algarve, the British buyers dominate the market. They represent 31 % of foreign investments, ahead of the French (19%). In central Algarve (on the Albufeira - Loulé axis), they even account for 46 % of international transactions, for an average value of 2.1 million euros per transaction (SIR-Turismo Residencial).

With the Algarve and the Porto area, Lisbon is also a favoured destination for investors. In 2016, foreign investors accounted for more than half of all housing purchases in the capital. The French, Chinese and Brazilians investors are also the first buyers on the renovated residencial market and the new housing market in Lisbon (CBRE).

The number of international transactions is rising. Summer home, secondary residence, principal residence or rental investment, foreign investors fell in love of Portugal.

E.B – Meretdemeures.com

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