Americans Maintain Strong Investment in Luxury Properties in Portugal Despite Decline in Gold Visas

Despite a decline in gold visas, Americans continue to show robust investment in luxury properties in Portugal, reflecting a sustained interest in the country's real estate market.

The luxury real estate market in Portugal, Spain, and Greece has experienced significant growth in recent years, largely driven by foreign buyers and the strength of the US dollar. Despite a decline in Golden Visa opportunities in Portugal, the demand for luxury properties in the country remains high. These findings are outlined in the Global Luxury Report 2023, released by Berkshire Hathaway HomeServices.

According to the report, American buyers are particularly drawn to Portugal for its lifestyle offerings and stability, especially amidst political and economic uncertainties in other parts of the world. The combination of these factors, along with strong purchasing power, has enabled American investors to acquire some of the finest properties in Portugal. Despite changes to the Golden Visa program, the study reveals that investors continue to see Portugal as an attractive destination for property investment and potential returns.

Furthermore, the Global Luxury Report 2023 highlights the impact of the Covid-19 pandemic on the luxury real estate market, noting that the Caribbean and second home markets such as Aspen, USA, have experienced a surge in popularity due to the rise of remote work and the desire for additional properties.

The luxury real estate market in Portugal remains robust, with American investors showing a strong interest in the country's properties. The changes to the Golden Visa program have not deterred investment, and Portugal continues to be a sought-after destination for luxury real estate. More!