US investors still focused on Portugal

Lisbon: Portugal continues to be the focus of international investors, especially Americans, who see the country as a safe and attractive destination to acquire properties.

This trend is revealed in the Summer Report 2024 by Berkshire Hathaway HomeServices, which also states that investors highlight the mild climate, low cost of living, safety and quality of health systems. The Portuguese’s commitment to sustainability and improving infrastructure makes the country even more attractive to investors.

The report also states that investors are attracted by the diversity of properties available in the Portuguese market, where there is a varied offer that meets the expectations of international buyers, from urban condominiums to seaside houses and large properties in the countryside. The locations are also diverse, spread throughout the territory. Lisbon, Algarve, and the Portuguese islands are extremely popular with foreign investors.

Michael Vincent, CEO of Berkshire Hathaway HomeServices Portugal Property, highlights that “almost half of last year’s customers (2023) were Americans, a number that shows no signs of slowing down. The US dollar has great purchasing power in Portugal and, in addition, ease of access, with the increase in direct flights between the United States and Portugal, is, without a doubt, a crucial factor for this trend.”

Gonçalo Penedo, Business Manager at Berkshire Hathaway HomeServices Atlantic Portugal, believes that lifestyle and economic factors are motivating a growing number of wealthy investors to move to Portugal where “in the luxury market, homes priced between 3 and 7.5 million euros reflect the type of mega-mansions found in luxury neighbourhoods in the United States.”

In recent years, many investors have chosen to acquire properties or establish residence in Portugal through the Golden Visa program. Although this program will end in 2023, there are other residency alternatives, such as the digital nomad visa and various capital investment avenues. “As the political landscape changes, it is possible that the Golden Visa program could be reintroduced, offering more opportunities for investors who wish to reside in Portugal”, comments Gonçalo Penedo.