What are the current luxury homes for sale in Portugal?
Currently, luxury homes for sale in Portugal attract international investors interested in premium real estate. With a growing demand, particularly in regions like the Algarve and Lisbon, buyers are keen to explore what this beautiful country has to offer. The Knight Frank report highlights that Portugal ranks among the top 10 preferred countries for purchasing luxury homes in 2024, making it a prime location for discerning buyers. Buyers can expect properties with stunning architectural features, ample living space, and proximity to world-class amenities like golf courses, beaches, and vibrant neighbourhoods. The Algarve stands out as a particularly sought-after area due to its beautiful coastline and year-round sunshine. Meanwhile, Lisbon offers a mix of historical elegance and modern luxury, appealing to both European and American investors. Prices are on the rise, with luxury properties having seen significant increases, yet the market remains attractive, showing a promising return on investment for buyers. With over 800 luxury housing investors registered in 2023, there's an evident appetite for these investments, ensuring strong market vibrancy. Perfect for buyers looking to capitalize on Portugal's real estate growth, now is the time to explore these exceptional homes. Contact us today to learn more about the available listings!
This is a conclusion presented by Knight Frank's 'The Wealth Report 2024', which places Portugal among the 10 preferred countries to buy luxury homes in 2024.
International investors were asked in this study about the countries in which they would probably buy a new house in 2024. They indicated that there is a 3.8% probability of buying luxury houses in Portugal, placing Portugal in ninth position in a ranking that has 10 countries.
Buyers from the United Kingdom are most likely to buy a new home this year (17.7%), followed by the USA (9.8%) and France (7.2%).
The Knight Frank study predicts an increase in international investors, with a net worth equal to or greater than 30 million dollars. In 2023, 800 luxury housing investors were registered, 3% more than the previous year. By 2028, the outlook points to Portugal attracting a thousand investors, which represents a growth of 25% compared to last year.
The study shows that the Algarve is most sought after by the English, Irish, and northern European markets. The Lisbon and Cascais market is seeing an increase in demand from American and Brazilian investors, according to Alex Koch de Gooreynd, responsible for the Swiss, Austrian and Portuguese markets at Knight Frank, cited by Jornal Económico.
Prices of luxury homes in the Algarve rose 12.3% in 2023 compared to the previous year, the fourth biggest increase among the 100 cities analysed. In Porto, prices rose by 5% and in Lisbon by 2.2%. However, the high cost of housing in these regions is unlikely to influence demand from wealthy foreign investors, with demand even expected to grow this year.
