The interest of foreign investors in the Portuguese property market is certainly not a new trend. However, there are regions in the country that are more attractive than others for those looking to buy a house and/or invest in the residential sector, particularly in the luxury segment. In Comporta and Melides, for example, foreign investment accounts for around 40% of the total number of transactions conducted by the estate agent Engel & Völkers (E&V) in the region.
The Market Report Portugal, a set of research reports conducted by E&V in partnership with the "Instituto de Marketing Research" – which analysed the property transactions mediated by the German multinational in the 2023-2024 period in various regions of the country – concludes that Germans, British, and Americans are the most active nationalities.
“As for housing prices, compared to 2023, the Comporta and Melides region recorded an annual variation in the average price of 28.57%, reaching a value of 9,000 euros per square metre (€/m2). In Alcácer do Sal, there is a consistent trend of appreciation since 2022, reaching 2,067 €/m2 in 2023. Grândola shows the same trend, but more subdued, reaching 1,273 €/m2 at the end of 2023,” says E&V in a statement.
New homes: "volatility" but growth in the market
Regarding the availability of new residential properties in this area, “there is some volatility; however, 2023 saw growth, both in the number of licences, which registered a 30.8% increase, and in completed homes, which recorded a 26.4% increase compared to the previous year,” the estate agent indicates.
It is also worth mentioning that the rental market continues to have “little significance” in the Comporta and Melides region, with 74 new contracts signed in 2023.
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