Brazilians own luxury properties in Portugal

Portugal has become the main destination of migration of Brazilians to Europe. In June this year, the community of Brazilians in the country reached a record number of 250,000 people living legally, according to the Foreign Affairs and Border Control Service (SEF). Their presence is felt everywhere throughout Portugal, especially in real estate. On Avenida Liberdade, where a square meter of housing costs 11 thousand euros, Brazilians make up 13% of foreign property owners in the area - the largest foreign community in the heart of Lisbon.

Brazilians have become the main international investors in residential real estate in Portugal, a market worth 30 billion euros in 2021,''translating at least 1.5 million euros into the country). In the second quarter of this year, Brazilians made 12% of real estate purchases worth more than 1 million euros among foreign buyers. With the opening of the borders, Portugal has become a center of attraction for institutional investors and individuals with large fortunes.

The preference of Brazilians is for properties with sea or river views. This is why VIC Properties has chosen the Tagus bank in Lisbon to build one of its major projects for next year, Prata Riverside Village. The architect of the project is Renzo Piano,''and 15% of foreign buyers are Brazilians, the largest group of foreign buyers of a project. At Athenas Advisers, which has two projects in the metropolitan area, even a 4.3 million euro property has not deterred Brazilians. On the contrary, the number of interested parties has only increased recently.