Portugal’s reputation as a premier destination for high-net-worth individuals (HNWIs) continues to rise, with growing numbers of wealthy Irish residents joining the wave of “millionaire migration” heading for the Iberian sun. In 2024 alone, the country welcomed a net inflow of 800 millionaires, cementing its status as one of the world’s top relocation spots for the ultra-wealthy.
According to Henley & Partners, Portugal ranked ninth globally for millionaire inflows last year. Lisbon is now home to over 22,000 millionaires, including 45 centi-millionaires and four billionaires, while the Algarve boasts 55 centi-millionaires — a testament to the region's enduring appeal.
From golden beaches to world-class golf, tax incentives and a relaxed lifestyle, Portugal ticks every box for affluent individuals seeking sun, security, and strong investment potential. The Algarve, in particular, remains a beacon for international luxury buyers — especially in the so-called "Golden Triangle" of Quinta do Lago, Vale do Lobo, and Vilamoura.
“The opportunities for high-net-worth individuals in Portugal are excellent,” says Christina Hippisley, General Manager of the Portuguese Chamber of Commerce. “From luxury resort living to generous tax incentives, Portugal has much that appeals to those seeking an ultra-high-end lifestyle.”
Spotlight on the Algarve: villas, land, and lifestyle
Among the standout opportunities for luxury property buyers is an exclusive €27 million eight-bedroom estate, marketed by international real estate advisory The Agency, known for its appearances on the Netflix reality show. Located in Lagos, this grand home includes a private island, blending historical charm with modern elegance — a true one-of-a-kind retreat.
For those interested in building their dream home from the ground up, North Grove in Quinta do Lago presents a rare opportunity. The collection of 13 premium plots sits at the heart of one of Europe’s most prestigious lifestyle and wellness resorts. With views across golf fairways and pine groves, and easy access to elite amenities, North Grove offers the perfect setting for bespoke luxury living.
“Quinta do Lago stands out for its unparalleled luxury, privacy, and access to world-class golf and leisure amenities,” says Marian Purcell, Team Leader and Luxury Real Estate Advisor at The Agency. “We’re seeing strong demand not just from retirees, but increasingly from young families seeking quality of life, safety, and access to international schools.”
Moving to Portugal: find your dream home
As Portugal continues to position itself as one of Europe’s most desirable destinations for wealth migration, it’s clear that the combination of lifestyle, climate, and high-end real estate is proving irresistible to a growing number of affluent Irish and international buyers.
Interested in finding your dream home in Portugal? Whether it’s a luxury villa by the sea or a custom-built estate in the Algarve’s Golden Triangle, there’s never been a better time to explore what Portugal has to offer - begin your search with idealista today.
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A new five-star resort with 158 units is planned for Meia Praia in Lagos (Algarve), right by the beach. The construction contract has been awarded to MAP Engenharia e Construção, part of the MAP Group, while the project is being promoted by Sonae Sierra in partnership with PGIM Real Estate (owned by US insurer Prudential) and IHSP - Iberian Hospitality Solutions. This ambitious development represents an investment of €60 million.
Gardens and pools drive demand among luxury homebuyers in Portugal
A property with a swimming pool and garden offers the perfect setting to enjoy Portugal’s warm climate with family and friends, combining privacy, comfort, and the relaxed pace of outdoor living. Naturally, these features come at a premium, with higher purchase prices and maintenance costs. Yet for those seeking luxury homes in Portugal, the appeal of private gardens and pools outweighs the additional expense, as revealed by idealista/data.
Discover the Algarve Golden Triangle: Portugal’s most prestigious address
The Algarve’s Golden Triangle has become the definitive location for luxury living in Portugal. Nestled between Quinta do Lago, Vale do Lobo and Vilamoura, this prestigious area offers an exclusive lifestyle with proximity to award-winning golf courses, golden beaches and Michelin-starred restaurants. This is everything you need to know about Portugal's most prestigious address.
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