Portugal ranks 7th country for foreign-owned real estate - Here is all the data for Real Estate in Portugal
Portugal news – Here is Europe’s Prime Residential Real Estate Databank in images, including all the data for Real Estate in Portugal, according to the European Lifestyle Report 2024 by Knight Frank.
Europe tops the global rankings for multinational property ownership, the image shows the Top 10 ranking of countries in Europe for foreign-owned real estate, with France ranking No. 1 and Portugal ranking 7th country for foreign real estate investment in 2024.
While France is the No. 1 country in Europe with the highest number of Ultra-high-net-worth individuals (UHNWI), that are people with a net worth of at least $30 million, Portugal has 800 Ultra-high-net-worth individuals in 2023, that is a 25% increase.
The percentage price increase of Prime Residential Real Estate in Europe is the highest in the Algarve, Portugal for the 12-month period to Q2 2024.
The ranking of the highest prices of Prime Residential Real Estate worldwide per sq. m at Q2 2024 include Portugal's Algarve with prices that range between 9,900 euros per sq. m to 10,900 euros per sq. m. The ranking of the most expensive real estate worldwide also includes Lisbon with prices that range between 9,800 euros per sq. m to 10,800 euros per sq. m.
While all key European economies are forecast to register positive Real Estate price growth in one year to December 2025 and in five years to December 2029, Germany is expected to be the European country with the highest percentage growth of Real Estate prices with 26.3% in 5 years. Portugal is expected to register a positive Real Estate price growth of 2.3% in one year to December 2025 and of 6.8% in five years to December 2029.
The comparison of the purchase cost of Real Estate in Europe compared to key global destinations based on a resident buyer purchasing a 2 million euros existing property to use as main residence shows that, excluding for buyers under the age of 35 in Lisbon, the purchase cost of Real Estate is 8.5% higher.
For the purchase of Real Estate in Portugal, residents under 35 are exempt from property purchase tax on primary residences to encourage homeownership.
The European Lifestyle Report 2024 highlights the fact that Portugal has a New Talent Attraction Regime - A 20% flat tax for senior professionals and startup executives, offering a ten-year benefit for those residing in Portugal for at least 183 days per annum.