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Chinese and Brazilians head international quest for Portuguese real estate

Lisbon, Porto and the Algarve are the most popular destinations; foreign buyers estimated to make up 11% of the market.

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Lisbon, Porto and the Algarve are the most popular destinations; foreign buyers estimated to make up 11% of the market.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:44 am

Chinese, Brazilian and French homebuyers are leading foreign demand in Portugal, according to a new study.

According to Living Destination, a study by real estate consultant JLL using data from 2019, Chinese and Brazilian buyers (17 per cent) were most interested in the city of Lisbon.

Back in 2012, the biggest demand in the Portuguese capital was from France and Angola (both with 16 per cent), according to JLL.

In the northern city of Porto, the highest demand nowadays is from French nationals, with 19 per cent, followed by Brazilians (15 per cent).

Housing demand was also greatest from French citizens in the Algarve (28 per cent).

The study estimates that the number of foreign nationals in the Portuguese housing market doubled in 2020, and is now close to 11 per cent of homes sold in Portugal, CLBrief reported.

 

UPDATED: 22 Dec 2023, 4:44 am

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