'House prices are at a high level, the Portuguese are active buyers.'

'statistics (INE), despite a slowdown at the end of the year.

I Portuguese are the main participants in real estate purchases in Portugal in 2022, although foreigners are increasingly active in purchasing residential properties in Portugal (and spending much more money on transactions), with their share of home purchases in Portugal never before as large as it was last year. The latest INE data, published on Wednesday, March 22, leaves no room for doubt: despite all the economic and financial instability, the Portuguese continue to be the most active buyers of real estate in our country, and it is the families living in the national territory that are the main contributors to record sales in 2022''year.

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Portuguese people bought 157,178 dwellings last year (93.6% of the total number of transactions), which generated a turnover of €28.2 billion (89% of the total). And in 2022, most home purchases by Portuguese people were made in Greater Lisbon, in the north and center of the country, statistics show.

Foreigners were more active in the residential real estate market last year, starting to overtake the Portuguese. While the number of transactions completed by Portuguese grew by just 0.3% in 2022 compared to the previous year, transactions completed by foreigners rose by 20.2% over the period, totaling 10,722 residential units - representing 11.4% of total sales, the highest since the start of keeping''INE statistics. It is also worth noting that the value of residential sales made by foreigners rose by 25% in just one year, to 3.6 billion euros.

These figures show that foreigners tend to buy much more expensive homes than the Portuguese, especially preferring luxury homes. It is buyers living outside the European Union (EU) who buy homes in Portugal at higher prices, paying an average of €406,267 - twice as much as the Portuguese. They are followed by buyers residing in the EU, who on average pay €279,063 per home (+56% compared to the Portuguese). Portuguese on average buy homes for 179,201 euros, INE data for 2022 shows.

This means that both Portuguese and foreigners have contributed''s real estate market development in 2022, which reached historic sales.