Cascais, Tavira, Braga, and Guimarães are the four most sought-after tourist destinations in Portugal by foreign investors, according to the Market Report Portugal, a collection of research reports conducted by the German real estate agency Engel & Völkers (E&V) in partnership with the Marketing Research Institute.
“In the Lisbon area, the region of Cascais stands out, which (…) was where foreign investment accounted for 100% of the investment made in the region in 2023,” states the German multinational in a statement, explaining that property transactions facilitated by the agency were analysed during the period 2023-2024 in the following real estate markets: Braga and Guimarães, Porto, Lisbon and Oeiras, Cascais and Estoril, Comporta and Melides, Lagos, Portimão, Albufeira and Carvoeiro, Vilamoura, and finally Faro and Tavira.
“The municipality of Cascais offers a wide range of housing options for different lifestyles and budgets, with easy access and available means of transport, ensuring a good quality of life. Furthermore, it is a highly sought-after area due to its proximity to the beach, providing a calm, safe, and well-maintained environment with good infrastructure,” comments Daniela Rebouta, Sales Director of E&V Lisbon and Oeiras, as cited in the statement.
"The municipality of Cascais offers a wide range of housing options for different lifestyles and budgets, with easy access and available means of transport, ensuring a good quality of life."
Daniela Rebouta, Sales Director of E&V Lisbon and Oeiras
The data from the Market Report also concludes that, in the Algarve region, Tavira stands out as the most sought-after area by foreign investors, with around 92% of transactions made in the year 2023.
“In Tavira, investors are drawn by the combination of picturesque landscapes, luxury property offerings, and cultural authenticity, making Tavira a preferred destination for second homes,” states Margarita Oltra, Regional Manager of E&V.
In relation to Northern Portugal, the focus is on the region of Braga and Guimarães, where 86% of transactions were carried out with foreign investors. In fact, it was the third most sought-after region by investors, concludes the agency.
“They are two cities that perfectly combine history, culture, and quality of life. Both cities are valued for their tranquillity and privileged location, providing easy access to all modern amenities without losing their traditional charm. Properties in Braga and Guimarães are sought after for their natural beauty, absence of mass construction, and high quality of life,” adds E&V.
Portuguese real estate attracts 682 million in foreign investment in the first quarter of 2024
Real estate continues to attract investors to Portugal. In the first quarter of 2024 alone, foreign direct investment in real estate amounted to 682 million euros, although this figure fell compared to the 853 million euros recorded in the final stretch of last year. Nevertheless, real estate still represents the largest share of the 1 billion euros in foreign direct investment in the country recorded between January and March of this year, reveals Banco do Portugal (BdP).
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