More foreigners choosing to buy property in Portugal

• 3 October, 22

Housing transactions from foreign buyers in the second quarter of the year “continued to increase at significantly higher rates”, according to the INE.

Of the more than 43,000 homes sold in the second quarter, almost 3,000 (6.4%) were bought by people with tax domicile outside Portugal, according to data from the National Statistics Institute (INE). Transactions for homes with this buyer profile “continued to increase at significantly higher rates”, reveals the statistics office.

Between April and June, 43,607 homes were traded (a total of 8.29 billion euros), of which 40,824 (7.3 million euros) were purchased by people residing in the country. Thus, the remaining 2,783 units were acquired by buyers with tax residency outside Portugal.

Within the universe of buyers living outside the country, the “European Union” category corresponded to 1,555 transactions (452 ​​million euros), equivalent to an increase of 62% compared to the same quarter of 2021, and the “remaining countries” 1,228 (531 million), up 63.1%.

Between April and June, according to INE data, the Housing Price Index (IPHab) recorded an increase of 13.2% compared to the same quarter last year, that is, 0.3 percentage points more than that observed in the previous quarter, “reaching a new all-time high in the available series”, which began in 2009.

Cre: Portugalnews