Through 2023, American real estate investment in Portugal is anticipated to increase. According to Sotheby’s International Realty Luxury Outlook 2023, which outlines the main trends for the luxury real estate market, it is anticipated that North American investors will continue to take advantage of their superior purchasing power abroad due to the strengthening of the dollar, and Portugal is on their radar.
Portugal has already placed among the top locations for luxury purchasers from the US, alongside Spain, Greece, France, and Italy. According to research by Sotheby’s, North Americans for the first time took the top spot among Portuguese real estate investors in 2022, ranking first when it comes to the acquisition of opulent homes in the Lisbon region.
Demand has recently increased since November, when Turismo de Portugal launched an activation action in Times Square, New York, to coincide with the unveiling of Cristiano Ronaldo’s wax figure at the Madame Tussauds Museum.
Among the most prized characteristics in the nation are safety, lifestyle quality, the friendliness of the Portuguese, infrastructure, health, and education. And the ones that make Portugal one of the top retirement and ex-pat destinations for Americans.
As more investors turn their attention to Portugal as a result of the pandemic, this interest in Portuguese real estate has grown. I think that in the upcoming years, this trend of North American buyers of luxury goods will persist and intensify.