Berkshire Hathaway HomeServices Portugal Property, the real estate company of the 5th richest man in the world, investor and philanthropist Warren Buffet, has made an analysis of the national market which reveals that 1 in 3 luxury properties in Portugal sold to Americans.
The real estate company’s data shows the growing interest of Americans in the Portuguese market, currently being the main buyers of luxury properties in the Lisbon region. In 2022, 6% of home purchases in the country were made by foreign citizens. With American citizens representing 15% of that number and 40% of these American buyers chose Lisbon.
“33% of property buyers [1 in 3] transacted by the company in 2022 were from the US and most were looking to take advantage of the Gold Visa Program”. In addition to purchases motivated by this program, “Portugal was recognized as the best place in the world for retirement in the Global Retirement Index”, says Michael Vincent, CEO of Berkshire Hathaway HomeServices Portugal Property.
The Summer 2023 European Market Report from BHHS – Berkshire Hathaway HomeServices shows that competitive prices and the appreciation of the US dollar are some of the factors increasing Americans’ interest.
Portugal has become a favorite destination for foreign investors, thanks to favorable living conditions and government incentives. Despite the changes announced this month by the government to the Golden Visa program, there are still many reasons that attract real estate investors to the country.
“The luxury market in Portugal has grown significantly in recent years. Several conditions are having a positive impact on the real estate market, including Portugal’s status as the 4th most peaceful country in the world, its excellent quality of life, hospitality, advanced healthcare, climate… all of which contribute to investors seeing Portugal as an excellent option,” explains Tatiana Vale, Marketing Director of Berkshire Hathaway HomeServices Atlantic Portugal.