This is the title of the Correio da Manhã article published last Sunday, in its weekly magazine, and journalist Marta Martins Silva requested my collaboration on a topic that is close to my heart and which served as inspiration for this journalistic piece:
In the past I had looked into this trend, which has brought celebrities from all over the world, some because they choose to buy a house and live in this corner of Europe and others because they rent a house and live here for some time.
https://ana-macao-kw.pt/en/who-are-celebrities-who-live-portugal
The Correio da Manhã journalistic article summarizes my responses to the journalist as follows:
"Real estate consultant Ana Mação works in the luxury segment of KW-Keller Williams Portugal and highlights the same qualities, to which she adds others. "The quality of life: security, diverse and appealing gastronomy, golf courses, welcoming culture and mastery of English language, as well as the inclusive environment. Also the mild climate, more important for buyers coming from colder climates, such as northern Europe, Slavic countries or North America; the lower cost of living compared to some richer countries", he lists. And he adds the high quality healthcare system, international schools, natural beauty and historical and cultural heritage, in addition to Portugal's strategic location - the importance of our passport and free access to other European countries are important assets for several nationalities, notably Brazilian and Chinese."
Additionally, these were my complete answers to your questions:
1 - What are the reasons behind this search?
The quality of life (security, diverse and appealing cuisine, golf courses, welcoming culture and command of the English language, as well as the inclusive environment), the mild climate (more important for buyers from colder climates, such as Northern Europe , Slavic countries or North America), lower cost of living compared to some richer countries, tax advantages (although they have been losing importance), high quality private healthcare system, international schools, natural beauty and heritage historical and cultural, Portugal's strategic location (the importance of our passport and free access to other European countries are important assets for several nationalities, namely Brazilian and Chinese), etc.
2 - What are the most sought after areas?
The city of Lisbon appears in a prominent position, with historic parishes and those next to the river at the top of the search. However, it has been losing importance to other areas of greater Lisbon, which are less inflated: Oeiras, Seixal, Cascais, Sintra, Azeitão, etc.
Greater Porto continues to attract buyers, both to the historic area and to surrounding locations such as Matosinhos.
The Algarve was and will continue to be one of the most attractive areas, with the municipality of Loulé at the forefront. The mild climate throughout the year, and the paradisiacal beaches, in addition to the luxury resorts, are the main attraction.
Tróia, Comporta and Melides are a very important hub for Americans and French.
Coast north of Lisbon: Ericeira, Peniche, Nazaré, Foz do Arelho, etc.
3 - What are the most common nationalities and does each nationality typically correspond to a different area of the country?
- British and French: appreciate Lisbon, Cascais and Algarve. On the other hand, Porto attracts French buyers, while Madeira attracts English buyers.
- Americans: Lisbon, Comporta, Porto and Madeira, as well as some areas in the interior of the country.
- Germans: Algarve and some rural areas in central and southern Portugal.
- Brazilians: Lisbon, Cascais and regions close to the sea.
- Emirates, Saudi Arabia, Russians, Ukrainians and Slavic countries in general: concentrated in Lisbon, Cascais and Porto.
- Scandinavians: Algarve and Lisbon.
- Chinese: metropolitan areas of Lisbon and Porto.
4 - What type of house are they looking for?
Exclusive houses, with views of the river or the sea, or close to the coastlines. New, high-quality apartments, in developments with security and luxury finishes. Farms and estates in quieter and more secluded internal areas.
In short
Although one of the main advantages that led to this 'immigration' were the tax benefits and the Portuguese visa (Gold Visa Program), which have now ended or are severely limited, the Portuguese government has just announced a measure that aims to reactivate the Status program of Non-Habitual Resident (RNH). This measure, not yet approved, which is part of a set of 60 measures aimed at stimulating the national economy, proposes:
Tax only 20% of work income obtained in Portugal by non-resident scientists and researchers, foreigners or Portuguese emigrants, who have not resided in the country for at least five years.
If you are interested in this topic, you can check out more detailed articles about this 'phenomenon' on my website: