Foreigners looking for a house to rent in Portugal increase in 2022

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The most significant increase occurred in Ponta Delgada, and was mainly dominated by the Brazilian market. The demand for houses to buy stabilized last year.

There are more and more foreigners looking for houses to rent in Portugal. The information was advanced by Idealista, which points out that the average international demand has increased from about 24% in December 2019 to 32% by the end of 2022, despite the context of high inflation.

“The 
demand for houses to rent by foreigners increased in 19 of the 20 Portuguese cities analyzed by Idealist between the end of 2019 and the end of 2022, with this increase being more expressive in Ponta Delgada (19.1%), Funchal (19%) and Porto (11.6%.),” says the platform, in a study released this Wednesday.

Among the district capitals, Funchal, Viana do Castelo and Bragança were the ones that captured the most interest, with a demand of 49%, 43% and 42%, respectively. “Already Portalegre, Évora and Beja were the cities that felt a lower international demand in the rental market at the end of 2022, although it represents between 20% and 23% of the total,” adds Idealista.

The demand for houses to rent is mainly dominated by the Brazilian market, which ranks first in international demand in 18 district capitals. According to the research portal, the only exceptions are Funchal, where German citizens are the most looking for homes, and Ponta Delgada, where the interest is mainly from North Americans.

In the Portuguese capital, Lisbon, the demand for houses for rent by foreign citizens represented 29% of the total in December, with Brazilian citizens being the most interested.
In contrast to the trend in rentals, the international demand for houses to buy stabilized. Still, there were 12 district capitals where this demand rose and eight cities where it fell between 2019 and 2022, according to the idealist.

“The growth was more expressive in Funchal (9.5 p.p), passing [international demand] to represent about 50% of the total demand for houses in this city last December,” considers the analyst, adding that also Leiria and Coimbra saw an increase in interest (3.8% and 3.5%, respectively). Portalegre and Beja, meanwhile, were the localities where international demand fell the most.

In Lisbon and Porto demand rose 21% and 23% in 2022.

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