Much has been written about Portugal – Lisbon and Porto alone can serve as case studies of how cities can reinvent themselves by transforming and modernising neighbourhoods. All while maintaining their historic character, and the Algarve long remains a top choice for second homes among international buyers.

Emerging from the pandemic, international interest in Portugal’s residential markets has been healthy, supported by solid market fundamentals. More recently, the Portuguese residential market has been put to the test due to a challenging global macroeconomic environment, higher interest rates and tighter credit markets. Prospects are positive, however, as diverse submarkets, a broad demand base and a continued shortage of prime supply will sustain the markets in the year ahead.

^{– ALEXANDRA GOMES, HEAD OF RESEARCH, PORTUGAL –}