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Portugal a paradise for second-home buyers, according to figures
Portugal may well be the smartest choice for expats (here), but it is also attracting non-residents in search of the ideal ‘home away from home’. In what has been the best year for Algarve real estate since the recession (read more), the number of non-residents buying properties nationwide has risen by almost 15%.
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The multimillionaire will enter the Portuguese real estate market through the subsidiary Berkshire Hathaway HomeServices.
The Portuguese real estate market continues to shine abroad and to attract more and more investors.
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Portugal considered Europe’s top residential hotspot
A recent survey shows that Portugal is one of the most desirable places in Europe in which to live and invest. Emerging Trends in Real Estate 2019, a joint survey by PwC and the Urban Land Institute, found that the country’s healthy economic market, strong growth and tax benefits make Portugal an international destination for companies, investors and tourists.
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While overall tourism figures have shown a slowdown in the Algarve, the latest statistics have revealed that for the first time there were more than 3 million overnight stays in the region during July.
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In what has been considered the best year for the Algarve real estate market since the recession (read here), 2019 has also seen some new trends emerge. The data was gathered by real estate databank Confidencial Imobiliário, in its latest report released this month. It highlighted five key trends:
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