Foreigners' Favourite House Acquisition and Renting Locations in Portugal
According to new data from Idealista News, North Americans, French and British are the nationalities that look the most for properties in the country's coastal areas.
The climate and beauty of the (long) Portuguese coast - highly distinguished due to its extensive sands and diverse landscape -, along with many other reasons, continue to attract foreigners to the country, whether to buy or rent a house. Proof of this is the international demand that already represents around a quarter (24%) of the total number of visits to properties located on the Portuguese coast, (76% is of national origin).
The USA stands out as the most active country in the search of properties in beach areas, having as preferable destinations the Azores archipelago, and the West Zone in mainland Portugal. Portugal continues to attract a lot of interest from foreigners. The active international demand is evident, despite the limitations imposed by Covid-19, in relation to mobility, and it is very interesting to notice the evolution of the demand of the international market in each parish or neighbourhood of Portugal. At this moment, this information is essential to adjust the strategies of the real estate market, as Portugal remains a viable option for many foreign investors. It is from the USA, France, and the United Kingdom that the greatest demand was registered for houses on the coast to sell or rent during the month of July, according to data from the Idealista News. The Americans are, in fact, the nationality most interested in buying a house by the coast, with presence in 166 coastal parishes. They are followed by the French, the predominant nationality in 89 parishes, and by the British, who are in 64 coastal parishes. Spaniards, Brazilians, Germans and Canadians are also among the nationalities most interested in investing in beachside properties in Portugal. North Americans are especially interested in parishes located in Greater Lisbon and the West Zone, as well as in Sintra or Ericeira, and dominate demand in the Azores islands, with a presence in more than 60% of the region.
In addition to Madeira, interested parties in the United Kingdom focus their attention in the region of Lisbon, as well as on some parishes in the south of the country, namely Almancil, Alvor, and Mexilhoeira Grande.
The Spaniards, on the other hand, focus their search on parishes closer to the border with Portugal, such as Altura, and Vila Real de Santo António, as well as on the Costa Vicentina and in parishes already close to the capital, such as Comporta, and Alcácer do Sal.
As for Brazilians, many of whom are attracted by the Golden Visa programme, they have a preference for coastal parishes in large cities, namely Lisbon, Porto, Aveiro, and Cascais, representing, in this case, 29 % of the international demand.
