Footnote from Living Portugal Property
Nov 2020. Covid-19 update. Online enquiries are strong however due to travel restrictions, property visits from foreign nationals are scarce except for those that already live in Portugal.
The market is slowing as per the normal annual cycle, although in the previous three-quarters, Covid-19 had an unusual but positive effect on certain property sales in and around Comporta/Melides areas, as the Portuguese buyer returned to the market.
Lisbon and Porto have had a positive but slower year, which may slow further if the Government restrict Golden Visa sales in these areas.
Certain areas like Lisbon which for a long time had been ignored by foreign investors and the up market areas within the Algarve seem very much to be in vogue again. It seems like many French buyers from Paris are using the search term “Immobilier a vendre au Portugal“, mainly for tax purposes and the quality but affordable living that Lisbon offers, are snapping up properties throughout the city and surrounding areas. Lisbon is once again thriving and benefiting from the foreign investment that is flowing in.
A relatively unknown area outside the “inner circle” called Comporta, has for a long time been the preferred local holiday and second home destination of the banking dynasty family Espirito Santo and their Portuguese friends searching for “Imoveis a venda em Portugal“.
Comporta boasts an unspoilt coastline with kilometres of pristine beaches along the Alentejo Coast and is attracting a sophisticated buyer who is looking for a low key second home destination where all pretentiousness is left at home in the capital cities of Europe and other parts of the world and a place that if you’ve never heard of is on the “In the know” buyers radar.
Both German and Belgium buyers seem to be in equal numbers with “Immobilien kaufen Portugal” being used by both nationalities, whilst the Spanish whom have an almost identical written and spoken language are very active with their common seach words being “casas a la venta en Portugal“.
The French buyers in 2016/17 overtook the British buyers for the first time whom search for “Property for sale in Portugal“, and if you wandered into certain areas of Lisbon at night you’d be right to think that you were in Paris rather than Portugal’s capital city.
Both the Dutch whom search for “Onroerend kopen Portugal” and the Italians who use the search term “Case vendita Portugallo“, have long been friends and buyers of Portuguese real estate and continue to frequent these beautiful shores that some of us are fortunate to call home.