Portugal continues to attract foreigners to buy houses, even without tax incentives.
Even without tax incentives, such as the special 'gold visa' regime that was previously in place in Portugal, foreigners continue to look for houses to buy in the country, and according to the Association of Real Estate Professionals and Companies in Portugal (APEMIP), the forecast is that this will continue this year.
Foreigners continue to choose Portugal as their preferred destination to live.
According to the second article from Notícias ao Minuto, the Association of Real Estate Professionals and Companies of Portugal (APEMIP) states that Portugal has become a top destination for foreign citizens and that the demand for housing in the country is expected to remain high, regardless of the end of special regimes that benefited international investors.
According to APEMIP estimates, around 150 thousand properties were sold in 2024, representing a business volume of around 30 billion euros, a growth compared to 2023. The association predicts that transactions will continue to increase throughout this year.
Among the transactions carried out, 6% were made by foreign buyers, with over half of them non-Europeans. However, the share of foreigners in the total value of transactions is more significant, exceeding 10% of the real estate market.
Portugal remains on the radar of international investors.
In a meeting with journalists in Lisbon, Patrícia Barão, vice-president of APEMIP, emphasized that Portugal remains an attractive choice for foreigners, especially from countries like the United States and Brazil, due to quality of life, safety, healthcare services, and education.
Even with the end of programs like the 'golden visas', the trend of foreign citizens choosing Portugal to reside is expected to continue. On average, a foreign buyer invests around 550 thousand euros in housing, a higher amount than that spent by Portuguese citizens.
The vice-president of APEMIP also highlighted a change in the profile of demand from foreigners. If a decade ago the Algarve was the main destination - highly sought after by English, Irish, and Germans - in recent years, interest has expanded to other regions.
"More and more, foreigners are looking into areas outside Lisbon and Porto. An American visits Seixal and is impressed by the landscape and the sunset," reads the quote in the news.
After 2012, the combination of policies such as the 'gold' visas and the non-habitual resident status attracted a large number of French, Belgian, and Brazilian investors. More recently, Portugal has established itself as a reference destination for foreigners seeking quality of life, even without tax incentives.
Patrícia Barão also pointed out the growing interest of Americans, highlighting that Portugal has been frequently highlighted by the US media as an excellent destination to live in.
House prices are not expected to decrease in 2025.
Regarding the evolution of the real estate market, the vice president of APEMIP was cautious and does not anticipate a price decrease this year. According to her, the imbalance between supply and demand persists, preventing a significant reduction in prices.
Currently, there are about 6,000 real estate companies in Portugal, with APEMIP representing about 2,000 sector agents, consolidating itself as the main association in the industry.
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