Portugal “will continue to be a market to invest in”, points out study
Portugal Sotheby’s Realty has launched Sotheby’s International Realty Luxury Outlook 2023, a report that lists the major trends for the luxury real estate market. In the first instance, the luxury residential real estate brand emphasizes that Portugal continues to be a «hot market for those who want to invest», namely for the “baby boomers who want to buy property for their children.
For Portugal, Portugal Sotheby’s Realty indicates that the American investment emerges as one of the great highlights – «with the appreciation of the dollar, it is expected that investors in this geography will continue to make use of their superior purchasing power abroad», in a statement. Along with Spain, Greece, France and Italy, Portugal (Lisbon, Porto, Algarve and Madeira) has already placed itself at the top of destinations for these luxury buyers.
In 2022, Americans had already emerged in first place in the purchase of luxury properties in the Lisbon region«an interest that has seen consistent growth and which, explains Sotheby’s Realty, has recently seen a new increase in demand when, last November, Turismo de Portugal carried out an activation action in Times Square, New York, regarding the launch of the figure by Cristiano Ronaldo at Madame Tussauds Museum», reads in a statement.
The North Americans join the Portuguese, the English and the Germans at the top of the most recurrent nationalities among buyers on Portuguese soil in the luxury segment. Portugal Sotheby’s Realty lists factors such as «security, quality of life, hospitality of the Portuguese, infrastructure, education and health» as valences that appear among the most valued qualities in the country.
Miguel Poisson, CEO of Portugal Sotheby’s Realty, says that «the pandemic ensured this interest in Portuguese real estate with more and more investors focusing on Portugal. I believe this trend of North American luxury buyers will continue and grow even more in the coming years.».