Portugal has established itself as a unique and increasingly lucrative destination, much sought after by investors from around the world. Several factors were responsible for putting Portugal firmly on the map including favourable economic, security, steady real estate market growth, increase in tourism and better returns. Political and governmental stability has made it easier for Portugal to comply with its international commitments improving the country’s credibility, which has led to a boost in the economy. Economic growth, deficit decrease and increased employment in Portugal place the country on a path to ever-growing success.
Sofia Rodrigues Nunes, Head of Real Estate and Planning at Gómez-Acebo & Pombo Abogados Portugal agrees that foreign demand, which she according to her estimate makes up one-quarter of property transactions, is not showing any signs of decreasing. “Buyers from the Middle East and Scandinavian countries have also become very interested and active. More recently, we have increasingly seen wealthy Brazilian, Turkish and South African investors coming to Portugal to buy the house of their dreams to live in with their family, seduced by the peaceful and safe environment and the European lifestyle,” adds Nunes. “These investors prefer Sintra’s charming villas and old palaces, the sea view in Estoril or the exclusive “golf and sea” at Quinta da Marinha, in Cascais, also popular with British investors. We have also been dealing with a sizeable British demand for properties in the Alentejo West Coast around Comporta and Melides.”
Investment numbers remain at record highs year after year since 2014, surpassing the 3.35 billion euros barrier in 2018; a feat never achieved before. Real estate investment is also more varied, with more options to invest in the hotel sector and demand for alternative subdivisions such as senior and student residences, hospitals, clinics and private rented schemes (multifamily schemes).