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Despite the current reduction in tax incentives, international buyers continue to play a significant role in the luxury property market in Portugal, particularly the British and Americans.
From Europe or other corners of the world to Portugal. Every year, many foreigners arrive in the country with the intention of buying or renting a home, seeking to improve their quality of life or make a profitable investment.
The Algarve region in Portugal is a prime destination for international buyers looking to invest in real estate. Known for its beautiful beaches, pleasant climate, and vibrant expat community, the Algarve offers attractive opportunities for foreigners wishing to purchase property.
Portugal came in 15th place in the Expat Insider 2024 ranking, which assesses the best countries for people living abroad, a drop of five places compared to last year’s index.
Sun, beach, safety, good cuisine, and quality of life. All these factors have attracted foreigners to buy houses in Portugal over recent years. However, the golden era of tax benefits aimed at international citizens has come to an end in the country.
The cost of living in Portugal has been worsening not only due to inflation but also because of rising house prices (although this has slowed down in recent months).
Discover why Portugal, with its pleasant climate, stunning coastlines, and high quality of life, is becoming the go-to destination for English speakers seeking a new home.
Last year, all Portuguese regions saw an increase in the contribution of foreign buyers to house purchases, both in terms of the number and value of their total housing sales.