Foreigners invest 321 million in real estate
According to Banco de Portugal, real estate investment in Portugal reached 321 million euros in the first quarter of 2021, compared to 385 million euros in the first quarter of 2020.
Although foreign direct investment in real estate fell slightly in the first quarter of the year, the economists believe that the overvaluation of house prices will not reduce non-resident demand and that, overall, the investment should remain close to the values of the past year.
Despite the 5.2% increase in house prices in Portugal in the first quarter of this year, economists do not identify significant changes in the behavior of the real estate market in the future, as Portugal maintains its attractiveness for foreign investors.
According to BdP, investment in real estate through the Golden Visa programme maintains its expressiveness, setting at 588 million euros in 2020, although below the 661 million euros registered in 2019.
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