Portugal, a picturesque country on Europe’s western coast, has been drawing a significant number of American investors. The country’s compelling blend of affordability, steady growth, and strategic location, coupled with its Mediterranean climate and relaxed lifestyle, have led to a boom in American investment in Portuguese real estate, particularly in the luxury segment.
In 2023, the USA has become the leading nationality choosing to invest in Portugal. According to data from the Portuguese Service of Foreign Immigration, American investment in Portugal has more than tripled compared to 2021. The country’s economy has shown resilience and consistent growth, revealing a favourable outlook for public finances.
Investment in the purchase of real estate, as part of the golden visa program, has been a significant driver of this trend. However, it’s worth noting that real estate investments will no longer be eligible for Golden Visa purposes,
Rising living and housing costs, violent wildfires and floods, a declining sense of security, a crippling healthcare system, and an increasingly polarised political ideology are some of the reasons why Americans have seemed to move their lives across the Atlantic, particularly to Portugal.
The interest in moving to Portugal is deeply rooted in finding a similar lifestyle to that of which buyers have in their home country. The similarities are many between Portugal’s lengthy coast and both of the U.S. A’s infamous shorelines.
With comparatively more affordable housing, lower cost of living, and similar lifestyles offered all over Europe, 2023 has seen a surge of dollar investment in the Western side of the continent. As the trend continues, it’s clear that Portugal’s luxury real estate market is set to benefit greatly from this transatlantic interest.
Source: oneselectproperties.com, theportugalnews.com, idealista.pt