With the appreciation of the dollar, it is expected that North American investors will continue to make use of their superior purchasing power abroad, and Portugal is in their sights, according to Sotheby's International Realty Luxury Outlook 2023, which presents the major trends for the luxury real estate market.
Alongside Spain, Greece, France, and Italy, Portugal (Lisbon, Porto, Algarve, and Madeira) has already ranked among the top destinations for luxury buyers from the US. In 2022, Sotheby’s found that for the first time, North Americans rose to the top of real estate investors in Portugal, appearing first in when it came to the purchase of luxury properties in the Lisbon region.
Sotheby's Realty explains the “recently registered new increase in demand” from when in November “Turismo de Portugal carried out an activation action in Times Square, New York, regarding the launch of the figure of Cristiano Ronaldo in the Madame Tussauds Museum”.
Safety, quality of life, hospitality of the Portuguese, infrastructure, education, and health are among the most valued qualities in the country. And the ones that make Portugal one of the favourite destinations for American expatriates and retirees.
“The pandemic has reinforced this interest in Portuguese real estate with more and more investors focusing on Portugal. I believe that this trend of North American luxury buyers will continue and grow even more in the coming years,” explains Miguel Poisson, CEO of Portugal Sotheby’s Realty, quoted in a statement and reported by idealista.
Imobiliário português vai continuar na mira dos EUA em 2023 https://t.co/xsNTs6t51I— idealista (@idealista_pt) January 16, 2023