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25% of Portugal's property sales bought by foreigners

Most of them are either French or Brazilian though there are also many Brits and Chinese

  • January 15, 2018 18:30
  • Author Monika Dimitrova
Medium lisbon 1801727  340
Source: Pixabay

Portugal’s property market continued to boom in 2017. There was a 25% to 30% increase compared to 2016. Data shows that a quarter of the homes that were for sale in 2017 were sold to foreign buyers. This allow to forecast that real estate will continue growing in 2018.

The house prices are expected to grow 6% a year throughout the next five years, but not even the rising prices are forecast to keep foreign investors from seeking the country’s good weather, safety, and high life quality. For example, the average price per square metre in Lisbon last December was set at €2,796, almost 37% increase on the same month the year before.

Source: Portugal Resident

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