Luís Lima, president of APEMIP, commented that «French investors remain at the top of those who invest the most in Portuguese real estate. There are no doubts that this route is here to stay, and this investment diversification is intensifying and not just focused on the main cities», since «the price increase in the great urban centres has caused a greater demand in less populated areas».
According to this data, France is followed by buyers from the United Kingdom, who represent 18% of investment, Germany with 9% and China with 7%. In total, during this year’s first semester, foreign investment represented around 16% of all trade.
The typology most sought after by buyers is 3 bedroom dwellings, representing 46% of the whole. Two bedroom dwellings represent 37% and one bedroom dwellings represent 15% of demand.
Real estate «should not feel Brexit’s effects as intensely»
APEMIP expects the representativeness of British buyers within the real estate market to remain the same in the near future, despite the doubts generated by Brexit.
Luís Lima recalls that «at the time of the Brexit referendum, there was a retraction in investment. Right now, that is not happening, since British representativeness within the real estate market has been increasing. British citizens are looking for different baskets on which to place their eggs right now and Portuguese real estate remains a safe harbour for investment».
British investors are starting to extend their interest into other regions within the country: «demand is still mainly centred around the Algarve, however, we can already see some interest in other regions».
On the other hand, according to APEMIP, «the national real estate scenario, and like I said on the day of the referendum, the Investment Activities Residence Permit Program (Golden Visa) may become a very interesting path for this market, in case of restrictions in terms of mobility».