French are the largest buyers of Portuguese real estate in first semester
APEMIP estimates that after the French, the foreigners who invested the most in real estate in Portugal are from the United Kingdom and Brazil, both with 18%, followed by Germany (9%).
The French invested the most in Portuguese real estate between January and June, with a representation of 21%, according to the Association of Real Estate Professionals and Companies of Portugal (APEMIP).
“The French continue to be among the top investors in Portuguese real estate. There is no doubt that this route is here to stay, and the diversification of this investment is accentuated, which is not only focused on the main cities. With the increase in prices in large urban centres, there is an increasing demand in areas with lower population density”, said, in a statement sent this Wednesday, the president of APEMIP, Luís Lima.
According to estimates made by the APEMIP Studies Office, after the French, the foreigners who invested the most in real estate in Portugal are from the United Kingdom and Brazil, both with the same representation (18%), Germany (9%) and China (7%).
In relation to the UK investment, the real estate representative argues that the effects of brexit (the UK’s exit from the European Union) should not be felt in the sector.
“At the time, at the time of the brexit referendum, there was a sense of retraction in this investment, for fear of what the future might hold. However, at the moment, this is not the case, since British representativeness has been growing in real estate investment”, adds Luís Lima.
The demand for real estate by the British continues to focus mainly on the Algarve, however, we are already beginning to notice “some curiosity” in relation to other areas.
For Luís Lima, the Residence Permit for Investment Activities (Gold Visas) programme may “become a very interesting route for this market, if there are restrictions on free movement” with the brexit.