Americans are willing to spend 30,000 euros and more per square meter for exceptional real estate.
(Photo: mauritius images / Pascale Gueret / Alamy / Alamy Stock Photos)
Athens, Paris, Madrid, Rome The Americans seem to have found their ideal place in Europe: beaches like those on the west coast or in Florida, a pleasant climate like in San Francisco, plus much cheaper living costs: More and more US citizens have recently bought real estate in Portugal.
According to the Department of Immigration, North Americans made up the largest group of foreigners granted residency as a result of investment in 2022. They replaced the Chinese, who led this list for years.
“Americans are the group of buyers that is growing the fastest,” says Vanessa Moreira Cell, Regional Manager for Portugal at Engel & Völkers. They buy mainly in Lisbon, but also in the second largest city of Porto or in Cascais, 30 kilometers west of the capital on the Atlantic. According to Cell, a very central location is important everywhere – and that costs money. “Americans pay the highest prices,” she says.
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