North American investors are leaders in real estate in Portugal.

Foreign funds led real estate transactions in Portugal in 2022, accounting for over 85% of the total. Over the past decade, conditions have developed in such a way that foreign funds began to actively invest in the Portuguese real estate market, and in 2022 they became the leaders in real estate transactions.

The list of investors is led by the United States, a country currently in the midst of a financial crisis. Attractive real estate prices in Portugal, combined with high market liquidity, have prompted foreign funds to make a strong bet on our country's real estate.

In fact, it is not exactly known how many funds invest in the Portuguese real estate market for a number of reasons, as noted by the same magazine: there are many foreign investors (there is no publicly available data); investments are made through complex entities, making it difficult to determine who was responsible for them (funds or other investment instruments).

Nevertheless, market experts have no doubt that foreigners - whether they are funds, management companies, or other entities - dominated the real estate market in our country in 2022, according to the same source. In particular, American investors rank first on the list, having invested one billion euros (about 37% of the total).

The list of the largest investors in the national real estate market is led by Blackstone, which acquired the Connect portfolio from Novo Banco for 208 million euros and the Bond portfolio from M7 for 125 million. The deal to purchase the Crow project for 800 million euros, which became the largest in the history of the Portuguese real estate market, was closed by the American fund Davidson Kempner.