North Americans, French and British are the nationalities that most search for properties in the country’s coastal areas. International demand already represents about 24% of the total number of visits to properties on the Portuguese coast.
According to a study by the idealist platform, the USA currently stands out as the most active country in search of properties in beach areas, with the Azores archipelago and the West Zone, in mainland Portugal, as preferred destinations.
“Portugal continues to attract a lot of interest from foreigners. The active international demand is evident, despite the limitations imposed by Covid-19, in relation to mobility, and it is very interesting to notice the evolution of the demand of the international market in each parish or neighborhood of Portugal. At this moment, this information is essential to adjust the strategies of the real estate market, as Portugal remains a viable option for many foreign investors ”, comments Inês Campaniço, head of idealista / data Portugal.
It is from the USA, France and the United Kingdom that the greatest demand was registered for houses on the coast to sell or rent during the month of July, as can be concluded from data of the idealist. The Americans are, in fact, the nationality most interested in buying a house by the coast, with weight in 166 coastal parishes. They are followed by the French, the predominant nationality in 89 parishes, and by the British, who are in 64 coastal parishes. Spaniards, Brazilians, Germans and Canadians are also among the nationalities most interested in investing in beachside properties in Portugal.
Where do foreigners look?
The idealist’s report also reveals that the Americans are particularly interested in parishes located in Greater Lisbon and the West Zone, as well as in Sintra or Ericeira, and dominate demand in the Azorean islands, with a weight of more than 60% in the region. .
The French dominate the foreign demand for houses in the Algarve and North Coast region. The Germans, in turn, focus their attention on the Alentejo Coast, with the parishes of Vila Nova de Milfontes and São Teotónio being the most popular. Houses for sale or rent in Porto Santo, on the island of Madeira, are also of interest to German buyers, even though it is the British who are most looking for a home in this archipelago.
In addition to Madeira, interested parties in the United Kingdom focus their attention on the Lisbon region, as well as on some parishes in the south of the country, namely Almancil, Alvor and Mexilhoeira Grande.
The Spaniards, on the other hand, focus their search on parishes close to the border with Portugal, such as Altura and Vila Real de Santo António, as well as on the Costa Vicentina and in parishes already close to the capital, such as Comporta and Alcácer do Sal. located in the northern parishes are also appealing to foreigners from neighboring Spain, again close to the border, such as Vila Praia de Ancôra.
As for Brazilians, many of whom are attracted by the gold visa program, among other attractions in Portugal, they have a preference for coastal parishes in large cities, namely Lisbon, Porto and Aveiro. Also in Cascais, representing, in this case, 29% of international demand.
The most expensive and cheapest coastal parishes to buy a house
The parishes of Lisbon have the most expensive properties, with Misericórdia reaching an average of 6,204 euros / m2 and Parque das Nações at 5,787 euros / m2, in an area where Brazilians are the main interested foreigners. The USA leads the demand in parishes in the capital, namely Estrela, with an average of 5,238 euros / m2. At the top of the parishes with higher prices also appears Sagres, with values of 4,397 euros / m2 – here are the Spaniards who lead the demand.
On the other hand, we find parishes in the Azores archipelago, such as São Mateus, where houses cost an average of 265 euros / m2 and here the Americans are the foreigners who dominate the demand. In mainland Portugal, the cheapest parishes are Samuel, in Coimbra, with average values of 362 euros / m2 – most sought after by Spaniards -, and Odeleite, in Faro, with average values of 483 euros / m2, where they return to the north. American stakeholders. In Aveiro, in the parish of Canelas and Fermelã, we can find properties at 631 euros / m2, and demand is dominated by the French.
The study also indicates some curiosities in this search. After analyzing the main nationalities interested in buying or renting a house in Portugal, some stood out for being in the minority. For example, the Swiss, who lead the search in the parish of Carriço, Pombal, in Tocha, in Coimbra, or even in Estela, Póvoa do Varzim. The Romanians also appear in the leadership of demand in Sarilhos Grandes, Montijo, as well as in Abrunheira, Montemor-o-Velho. Canada also leads in some parishes of the Azores, for example, Quatro Ribeiras in Terceira Island.
Source: Diário Imobiliário
September 6, 2020