Foreign investors poured €3.9 billion into Portugal’s property market in 2025 — a 10% increase over 2024 and a new record, according to the Bank of Portugal (BdP).
Even after the end of golden visas for real estate at the end of 2023, international interest shows no signs of slowing. Property investment now accounts for 45.9% of total foreign direct investment (FDI) — the highest share ever recorded. Ten years ago, it was just 19.3%.
Property vs. overall FDI
- Property investment: +10.4% in 2025
- Total FDI in Portugal: -34.9%, down to €8.51 billion
European countries were the largest investors, with Luxembourg (€1.1B), the UK (€900M) and Germany (€800M) leading the way. Some countries, like the Netherlands, Luxembourg and Spain, act as intermediaries for France, the US, and the UK, meaning the true investment may be even higher.
Regional highlights
- Greater Lisbon: €113.2B
- North Portugal: €37.2B
- Algarve: €21.7B
These three regions together account for over 80% of FDI in Portugal.
Portugal’s investment abroad
Portugal invested €6.7 billion abroad in 2025, mostly in Europe:
- Netherlands: €2.3B
- Spain: €1.7B
- France: €600M
The total stock of foreign direct investment in Portugal reached €213.7B (70% of GDP), while Portugal’s investments abroad rose to €78.6B (26% of GDP).
Foreign investors earned €13.4B from Portuguese assets, up €1.4B on 2024, while Portuguese investments abroad generated €5.4B.
Bottom line: Despite policy changes, Portugal’s real estate market remains a magnet for international investors, cementing its role as a key pillar of foreign capital in the country.
