The demand for Portuguese houses has increased on islands. This is due to more investment from foreigners who want to buy property on the beautiful Portuguese islands. More than half of the demand for the housing market on Portuguese islands has come from foreigners.
More Demand For Portuguese Islands
Portugal is the epitome of foreign attraction due to several tourist destinations within the country. This marks a new investment in the country as many foreigners look to invest in the Portuguese housing market. Recently, a slight trend has been noticed in the property market on islands. According to statistics, around half of the demand for houses on Portuguese islands has come from foreigners.
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Many homes are marked for sale on several islands in Portugal. More than half of the demand for houses on the Azores Island is from foreigners who are looking to buy property in Portugal. 3 out of 10 people who are exploring the housing market on the islands of Porto Santo and Madeira are foreigners.
Although the Portuguese people are more dominant in the housing market within the country, there has been a slight increase in foreign investment in property. More than half of the property buyers are Portuguese according to the data from Idealista. This data was recorded for the end quarter of the year 2024. However, surprisingly the demand for housing on the islands of Santa Maria, Azores from foreigners was 58.8%. This marked an interest from foreigners which was more than the national market.
Azores Islands In Demand
According to the statistics on the house demand, there is an interest from foreigners on every island. Islands in the Azores are more in demand compared with other islands in Portugal. The island of Santa Maria is leading to the demand for foreign interest. Some of the other islands whose demand has increased recently are the islands of Flores, Pico, Graciosa, and Corvo. The foreign demand is one-third on the islands of Faial, Terceira, São Jorge, and São Miguel. Main foreign interest comes from countries like the USA, Canada, and Germany.
Reports state that most foreigners look for islands in the Azores to buy their houses. Apart from the Azores, there is more house demand in the Madeira region. There is more international demand in Madeira, but it is not more than that of the Azores. 3 out of every 10 people are foreigners who want to buy a house on the islands of Porto Santo. The total international interest on the islands of Madeira is 42.5% in the last 3 months. Madeira saw interest from mainly two countries: the United Kingdom and Germany.
Faro has also seen a rise in house demands, both by locals and foreigners. The international demand for foreigners who want to buy houses in Faro is 35.8% of the total customers. Porto and Lisbon are located at the bottom of the demand list. The international interest in Porto is 13.7% while in Lisbon city, it is only 12.1%. This is way less than some of the other regions within the country.
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