Foreigners make up50% of the deals at Sotheby's International Realty in Portugal.

This information is disclosed by Miguel Poisson, the CEO of the Portuguese branch of the company, in an interview with the magazine ECO.

“Compared to other European countries, Portugal continues to be very attractive to clients and investors because it not only offers a good quality of life but also provides other important and defining factors such as safety, climate, well-developed infrastructure, and excellent universities,” says Miguel Poisson, CEO of Portugal Sotheby's Realty, in an interview with ECO.

“When it comes to housing availability for the Portuguese, the main issue is not the property prices, but the low wages that are prevalent in Portugal,” he adds.

In response to a question about the current market situation, Miguel Poisson stated: "Currently, a clear supply shortage combined with strong demand does not allow for price reductions, which will continue to rise in many regions of the country. This situation is leading to an increase in property prices in Portugal and a decrease in transactions. Fresh data from the National Institute of Statistics showed that the number of transactions fell by 22% in the first half of 2023 compared to the same period."

A significant piece of information is the fact that the CEO of Portugal Sotheby's Realty notes: "According to the latest data, foreigners account for 50% of Sotheby's International Realty transactions in Portugal.