Decrease in real estate sales to foreign buyers

In the first six months of the year, 770 residential buildings or apartments were purchased by foreigners in Lisbon, representing a turnover of 442.9 million euros. According to Confidencial Imobiliário, this is a decrease of 19 percent compared to the previous year, both in the number of properties sold to foreigners and in the total value of transactions.

The report also indicates that home buyers in Lisbon came from 58 nationalities, including the French and Americans, who bought 10 percent each of the properties sold.

The data from Confidencial Imobiliário takes into account properties located in Lisbon, excluding the districts of Santa Clara, Lumiar and Parque dos Nashans, and is based on an analysis of property preference rights declared by the Lisbon City Council.

Among the different areas of the capital, interest from foreigners increased in areas outside the historic center, such as Benfica, Campolide, Acantara, Areiro and Alvalade, where the number of sales increased by more than 50%, surpassing Santa Maria Major, Misericórdia and Santo António, with about 80 transactions each (10% of total sales).

But the decline in the sale of houses in Lisbon by foreigners is also accompanied by a decline in Portuguese investment. According to the Confidencial Imobiliário report, the Portuguese purchased 1,630 residential properties in the first half of the year for a total of 673.1 million euros, down 22% and 13% year-on-year respectively.