Data sourced from property portal idealista reveals that the largest proportion of searches for luxury homes come from the United Kingdom, amounting to 11.9 per cent of total international demand at the outset of 2024.
Following closely are the USA (11.2 per cent), Germany (10.2 per cent), Spain (9.2 per cent), and France (8.6 per cent).
This is a slight uptick from the UK compared to the previous year (up 0.8 per cent), while interest from the USA has waned (4 per cent down).
This was to be expected, given that the USA was one of the top nationalities taking advantage of Golden Visas from 2012 until September 2023, as reported by the now-defunct Foreigners and Borders Service (SEF).
Lower demand from US after Golden Visas scrapped
Despite the cooling demand from the USA now that Golden Visas have been scrapped, North Americans are still among the top 10 buyers, drawn to Portugal s beautiful beaches, high quality of life, pleasant climate, and robust health and education services.
The other main customers for Golden Visas were predominantly investors from China, South Africa, Brazil and Turkey, which now represent less than one per cent of investment in the luxury sector.
Research indicates a substantial Brazilian interest in luxury homes in Portugal in recent years, accounting for 6.2 per cent of the total demand in the first quarter of 2024.
Brazilian investment has nevertheless decreased by 1.5 per cent from the previous quarter now that no more Golden Visas are being issued.
Sign up for personalised news
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Privacy Policy for more information about our privacy practices.
Written by
Annette Christmas
Annie Christmas loves language and communication. A long-time resident of Mallorca, she enjoys an outdoor life of cycling, horse riding and mountain walking, as well as the wealth of concerts and cultural events on the island. She also plays fiddle in a traditional Mallorcan dance troupe.
Known as the PEOPLE’S PAPER, Euro Weekly News is the leading English language newspaper in Spain. And it’s FREE!
Covering the Costa del Sol, Costa Blanca, Almeria, Axarquia, Mallorca and beyond, EWN supports and inspires the individuals, neighbourhoods, and communities we serve, by delivering news with a social conscience. Whether it’s local news in Spain, UK news or international stories, we are proud to be the voice for the expat communities who now call Spain home.
With around half a million print readers a week and over 1.5 million web views per month, EWN has the biggest readership of any English language newspaper in Spain. The paper prints over 150 news stories a week with many hundreds more on the web – no one else even comes close.
Our publication has won numerous awards over the last 25 years including Best Free Newspaper of the Year (Premios AEEPP), Company of the Year (Costa del Sol Business Awards) and Collaboration with Foreigners honours (Mijas Town Hall). All of this comes at ZERO cost to our readers. All our print and online content always has been and always will be FREE OF CHARGE.
Sign up for personalised news
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Close
