Portugal 25,000 houses sold to foreigners published by Portugal News
Between 2019 and 2021 in Portugal, around 25,000 homes were sold to international buyers, which totaled up to €7.3 billion.
According to data from the National Institute of Statistics (INE), the Algarve was also the region most sought after by foreigners. Foreign buyer’s were also amongst half of all houses sold in that period. Foreigners were also the total value of these transactions.
Also in the last two years the value of housing sales exceeded €72 billion. With 89.9 percent of this value (€64.8 billion) corresponding to transactions whose buyer were tax domiciled in Portugal. The remaining 10 percent are divided: €3.8 billion from buyers in the European Union (EU) and €3.5 billion from buyers from countries outside the EU.
Also the report found that foreigners have greater purchasing power compared to residents. According to INE, home sales involving buyers from outside the country registered a “more expressive” average transaction value. Which is more than In other countries category. Also the average value was €374,484 more than double the average value of €149,644 euros for buyers with tax domicile in Portugal.
In an analysis by regions, the Algarve was also the preferred region for foreign buyers. This also with a weight of 40.3 percent in number and 45.8 percent in value. The Lisbon Metropolitan Area is also the second most representative location. This also with 23.1 percent of total transactions and 35.4 percent of value.
The contribution of buyers with tax domicile outside the national territory to the number and value of total sales shows significant differences between the different regions. The highest weight was in the Algarve 25.3 percent and 37.8 percent and the lowest in the North 2.4 percent and 3.1 percent
In 2021, the municipality of Lisbon sold 190 municipal houses worth €3.6 million.
Lisbon City Council sold 1,630 municipal houses from 2008 to 2021, raising €46.8 million. The PSD/CDS-PP leadership, which governs without an absolute majority, wants to complete the ongoing sales. Which finds the opposition to suspend the processes.
The councilor for housing of the Lusa agency Filipa Roseta said that the policy of selling municipal dwellings to their tenants began in 2008. This was the period in which the PS was at the head of the governance of the city of Lisbon.