Portugal becomes an attractive place for foreign investors again. Statistics in 2014 show Portuguese real estate market extended at double digit rates. According to provisional data by the Portuguese Real Estate Agents Association (APEMIP) around 80% of commercial properties were sold to foreigners. Also one in five residences was bought by a foreigner.
“The property market grew by between 9 and 15 percent in 2014” said the head of APEMIP, Luis Lima.
The volume of commercial real estate investment in Portugal reached 700 million Euro – 330 million Euro of the total investments were brought by American investors as Blackstone group (commercial properties of Espírito Santo Fundos de Pensões), Global Asset Capital (EDP headquarters in Lisbon), American fund Lone Star is bidding for the Vilamoura resort, according to Jornal de Negócios. There are still other ongoing deals foreseen in 2015.
Britons, Chinese and French are leading as the top three main buyers in the residential real estate market. Perfect climate, low property prices and affordable living costs continue to appeal to many buyers.