The luxury real estate market in Portugal continues to grow, under the gaze of domestic and foreign investors. According to the Luxury Estate web portal, average demand in this sector stood at almost three million euro in the first half of 2018. The Portuguese are the biggest house hunters for luxury homes, followed by the Brazilians and French.
In the period of time analysed, the Portuguese led the demand for luxury properties, and had an average spending power of 1.7 million euro per property. They are second in that respect to the Brazilians, who had an available investment capital of 1.85 million euro.
Also on the podium are the French, with a capital available quite similar to the national spending capital, set at an average of 1.75 million euro. In fourth and fifth place are the Spaniards and Italians, with available investment values of 2.4 million euro and 1.35 million euro, respectively.
The Algarve, the region where most money is spent
The Algarve continues to be the region of Portugal where demand for luxury houses is highest, and where investors are willing to spend the most money. The average capital available to invest in this area is 4.7 million euro.
Lisbon-Cascais is the second most popular region with a search value of 2.9 million euro. Porto takes the bronze medal, with an average value of 1.1 million euro, significantly lower than the two most sought-after areas.
So, who will be the future tenants of the Algarve? In order of financial interest by nationality, it’s the French, the Portuguese and the British who love buying houses in the Algarve the most. According to Luxury Estate, luxury condominiums and cottages were the most appealing properties in the south of Portugal for buyers of luxury real estate. "From penthouses in Lisbon to palaces in Cascais, just behind the Portuguese, it's the French and Brazilians who most enjoy these options," claims the property portal.
"The climate, gastronomy and security are undoubtedly great attractions for the increase in tourism and, consequently, for the decision to buy a luxury property," says Silvio Pagliani, founder of Luxury Estate. "From Oporto to Faro, there are several options for those looking for a property in this category and we are sure that Portugal is and will continue to be a growing market on our portal."
As for the supply of high-end homes on the whole portal – which includes more than 350,000 luxury properties in 120 countries – it is observed that France has been the main investor in the last year and a half, followed by Spain, Germany, Italy and, finally, Brazil.