Portugal has become an increasingly popular destination for Americans seeking a change of scenery, and recent political events in the US have only accelerated this trend. According to data from Athena Advisers, searches for “Portugal Property” and “Portugal Golden Visa” reached a five-year high following the recent US elections.
This surge in interest is driven by various factors. Portugal offers a stable political environment, a high quality of life, and a lower cost of living than many major US cities. The country’s strong economy and growing tech sector also offer entrepreneurs and remote workers attractive opportunities.
While the Golden Visa program has undergone recent changes, with investment in residential real estate no longer an option, investors can still obtain visas through investment in other sectors, such as private equity funds.
Many Americans initially opt to rent in Portugal, allowing them to experience the country and its property market before committing to a purchase. Lisbon, Porto, and the Algarve region remain the most popular destinations for American expats.
Key factors attracting Americans to Portugal:
- Political stability: Portugal offers a welcome respite from the political polarization in the US.
- Affordable cost of living: Portugal offers a more affordable lifestyle than major US cities.
- Safety and security: Portugal consistently ranks high in global safety indices.
- Excellent healthcare: Both public and private healthcare options are available.
- Thriving economy: Portugal’s economy is growing, with opportunities in various sectors.
- Welcoming culture: The Portuguese are known for their hospitality and inclusive culture.
- Beautiful scenery and climate: Portugal offers diverse landscapes and a pleasant climate from stunning beaches to rolling hills.
Real Estate Insights:
- Despite rising property prices, Portugal remains competitive compared to other European capitals.
- Prime residential properties in Lisbon average around €9,000 per square meter, and €6,500 in the Algarve
- Rental yields in Portugal are also attractive, averaging 4.6%.
If you’re an American considering a move to Portugal, I can help you navigate the process. I specialize in assisting international clients with their real estate needs in the Lagos and Western Algarve region. Contact me today for a consultation.
