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French lead the list of property buyers in Portugal

The study carried out by APEMIP (Office of Studies of the Association of Professionals and Real Estate Agencies in Portugal) places the French at the top of the list in terms of the number of foreigners buying real estate in our country. This study, which related to 2016, showed some of the changes in the real estate market in Portugal, which was formerly led by the British and the Chinese buyers.

Foreign investment in the purchase of real estate on Portuguese soil is a very significant percentage share, representing about 20% of transactions made in the real estate market. The high figure (just like the previous years) is due to the improvement in this sector at the internal level. This means the number of Portuguese people buying real estate in our country also increased significantly during 2016.

The three favourite regions for foreign investors in Portugal are Lisbon, Porto and, of course, the Algarve. Both French and British seem to have a fascination for the Algarve region, both as a destination for property buying and holidays. The Algarve is one of the most sought-after destinations for purchasing real estate. On the other hand, the Chinese seem to prefer the capital city.

Between the French and Chinese, the Portuguese real estate market sees half of the sales occurring in the region of Lisbon. It is estimated that, in the year to date, these sales have yielded nearly 2 million euros.

Portugal - O_Porto_(visto_da_Ponte_Dom_Luis_I).jpg

The percentage distribution among foreigners who buy houses in Portugal also indicates a significant presence of Brazilians and Belgians. This distribution estimates that in 2016, 26% of the international real estate buyers in the Lusitanian region were French; 19% were British; 13% were Chinese, 8% came from Brazil and 5% came from Belgium.

Although these are the most popular foreigners when it comes to buying real estate on national soil, the truth is that they are not the only nationalities involved in buying a home in Portugal. There are several nationalities (more than 43) that, for the most diverse reasons, choose our country to purchase a property.

Among the nationalities in question are people from as diverse backgrounds as Lebanon, South Africa and Turkey.
The increase in the number of house sales to foreigners also came as a result of the measures implemented to facilitate the entry of foreigners, particularly the residence permit given by the famous "Golden Visas" and the tax benefits associated with purchasing a houses by foreigners in Portugal.

In addition, Portugal has received several prestigious awards as it is considered to be the best country to live in and the third safest country in the world.
With all these factors supporting the decision of foreigners to buy a home in our country, it is expected that the real estate sector will maintain the positive trend demonstrated throughout 2016 and continue to grow and expand in 2017.

For now, the French, British, and the Chinese take the lead in buying property on Portuguese soil. However, it is possible that these nationalities will be joined by others in the near future thanks to the many charms of this country.

Engel & Völkers

Portugal
Avinguda Diagonal 601, 08028 Barcelona
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PT
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