Read the articles within Savills Spotlight on Portugal report below
Welcome to the Spotlight on Portugal for 2024, where we examine the key trends across Portuguese prime residential property.
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 –
Popular Portugal
Global interest in the prime property markets is boosting Portugal’s prime residential markets
Lisbon
A rebound in tourists and a revitalisation of the residential areas across the city has made Lisbon a top destination for domestic and international buyers
Cascais & Comporta
Aside from internationally known areas such as Lisbon and the Algarve, there are other enclaves in Portugal that have seen increased global appeal in recent years
Algarve
The sunny southern coast of Portugal remains a top destination for second homes and international expats looking for the coastal lifestyle
Outlook
Portugal remains a premier lifestyle, culture, and weather destination within the sunshine belt of Southern Europe