Portugal has long attracted international homebuyers, so it comes as no surprise that foreign demand has more than doubled in the last decade. In 2012, international investors represented less than 5% of homes sold. In 2020, that number reached 11%.
Conducted by the consultants JLL, the study 'Living Destination' analysed not only the growth of demand, but also the nationalities that hold the most weight in the search for a home in Portugal.
In 2012, British and French investors led the way, with a 23% and 15% slice of the market, respectively. German citizens came third at 7%. In 2019, just before the pandemic, French buyers overtook the Brits (18% compared to 17%), with Brazil in third place (8%).
In the Algarve, while the most significant demand for properties in 2012 came from UK investors at 37%, they were overtaken by the French in 2019. A total of 28% of homebuyers in the region hailed from France, compared to 24% of British buyers.
“There is still a high interest of international investors and developers in Portugal and in its real estate in the post-Covid period,” said António Gil Machado, director of Iberian Property, regarding recent data that the Portuguese property market is still booming. And it's particularly true among international investors (read more).