Portugal, with a focus on the cities of Lisbon and Porto, was one of the most sought-after countries by foreign citizens in 2023 for luxury real estate investments.
The predictions for 2024 confirm this trend and anticipate a strong performance in the main Portuguese cities.
The year that has just begun seems to be no exception. The Portuguese capital even enters the top 10 global markets with the best performance for investments in premium and luxury real estate.
This projection is widely agreed upon among analysts and is also included in the latest study by Knight Frank.
Lisbon occupies the tenth position in the report, with a forecasted growth of 2.5% in the luxury real estate market, surpassing cities like New York, Zurich, or Paris.
Political disruption is a cause for concern. Nevertheless, the cycle of elections – legislative and European – that will take place in the first half of the year is identified as “the biggest potential risk for luxury markets in 2024.”
Yes, the same report highlights elections as a potential risk for the luxury residential market and, as the greatest opportunity, emphasizes the streamlining of administrative and fiscal processes to make the real estate market more attractive for foreign investment.
Despite some uncertainty regarding new measures for the real estate sector in Portugal, foreign investors continue to believe in the country’s ability to attract investment and establish itself as an excellent place to live.
As mentioned in previous posts, factors such as security, accessibility, quality of services, and the country’s location continue to explain this preference for Portugal.
