British buyers continue to see Portugal as prime destination for investment and living
As 2024 draws to a close, British interest in Portugal remains steadfast, particularly among high-net-worth individuals and families. The recent Autumn Budget in the UK in October 2024 has further motivated British buyers, who increasingly regard Portugal as an outstanding destination for both living and investment.
With excellent UK-Portugal connectivity, advanced digital infrastructure, and an appealing lifestyle, Portugal offers a compelling option for those seeking a fresh start abroad or a solid investment opportunity.
For many people, what began as a temporary move to Portugal during the COVID-19 pandemic has evolved into a permanent lifestyle change. As we approach 2025, Portugal is emerging as a favoured destination for professionals seeking a warmer, more relaxed, and welcoming environment.
This trend is underscored by visitor data from our recent Moving to Portugal Shows here in the UK, where 35% of attendees expressed an interest in relocating or starting a business in Portugal.
Interestingly, at our earlier pre-Covid Moving to Portugal Shows back in 2018 and 2019, many of our visitors were over 60, but this age demographic has since shifted.
Several of our Chamber members now report a significant increase in demand for their services from families relocating to Portugal, particularly those with children in secondary education. These families are particularly attracted by Portugal’s expanding network of high-quality international schools, which has driven a growing demand for family homes in those areas.
Notably, at our October 2024 Moving to Portugal Show in London, over 65.6% of our attendees were under the age of 60, highlighting the growing interest among younger movers to embrace life in Portugal.
This influx of younger families is reshaping Portugal’s property market dynamics. British buyers are increasing the budget they have available to spend on a property as they seek larger homes with private outdoor spaces, gardens, and access to family-friendly amenities. They are not just searching for a house – they are looking for a home that complements their new lifestyle in Portugal.
While families represent a large share of these new buyers, retirees and those approaching retirement continue to see Portugal as an ideal destination. For this demographic, Portugal offers a lifestyle defined by comfort, convenience, and tranquility.
Destinations outside the Algarve such as the greater Lisbon area remain highly attractive, accounting for nearly 50% of our show visitors. These areas appeal to movers due to their well-equipped, high-quality healthcare services and leisure activities.
Investment interest from British buyers is also increasing, as demonstrated at our recent Moving to Portugal events. Portugal’s real estate market remains robust, attracting investors who recognize its potential for long-term growth and stability.
Many buyers are drawn to properties with renovation potential, appreciating the chance to restore older homes while adding their personal touch. Additionally, resort-style living and condominiums – offering managed services, security, and premium amenities—are gaining popularity among buyers who value convenience and frequently travel, but above all desire a reliable and secure home base in Portugal.
The strength of the Portuguese property market is bolstered by favourable economic conditions. As more British buyers recognize the exceptional value of Portugal’s real estate offerings, this upward trend is set to accelerate.
Looking ahead, the Portuguese Chamber of Commerce in the UK is delighted to announce it has already scheduled three property showcases for 2025. Two events will take place in London (April and October), with a third planned for Dublin (May).
These showcases will provide potential buyers and movers with opportunities to explore Portugal’s diverse investment and lifestyle options, connect with property experts, and receive tailored advice to meet their unique needs.
For more information:
www.movingtoportugal.org.uk | info@portuguese-chamber.org.uk
By CHRISTINA HIPPISLEY
General Manager of the Portuguese Chamber of Commerce in the UK
