Portugal continues to attract foreigners to buy houses, even without tax incentives.
Even without fiscal incentives, such as the special 'gold' visa regime that used to exist in Portugal, foreigners continue to look for houses to buy in the country and, according to the Association of Real Estate Professionals and Companies of Portugal (APEMIP), it is expected to remain so this year.
Foreigners continue to choose Portugal as their preferred destination to live.
According to the second article of the Notícias ao Minuto, the Association of Real Estate Mediation Professionals and Companies of Portugal (APEMIP) states that Portugal has consolidated itself as a preferred 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, in 2024 around 150 thousand properties were sold, representing a turnover 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 made, 6% were made by foreign buyers, with more than half of these not being Europeans. However, the weight of foreigners in the total value of transactions is more significant, exceeding 10% of the real estate market.
Read more: Portugal continues to attract foreigners to buy houses, even without tax incentives
Portugal remains on the radar of international investors.
At 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, and education services.
Even with the end of regimes 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 a housing, a value higher than what is spent by Portuguese citizens.
The Vice President of APEMIP also highlighted a change in the profile of foreigners' demand. If a decade ago the Algarve was the main destination - highly sought after by English, Irish, and Germans - in recent years, the interest has expanded to other regions.
More and more, foreigners are looking at areas outside the centers of Lisbon and Porto. An American visits Seixal and is impressed by the landscape and sunset, reads the quote in the news.
After 2012, the combination of policies such as the 'golden' 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.
Read also: Starting a life in another country? 5 reasons to choose Portugal as your new home
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 drop this year. As explained, 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 as the main association in the industry.
Read more: House prices will continue to rise in 2025
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