'Smoldering' UK demand for European real estate.

>Two Portuguese locations have made the "top ten most popular destinations among foreign buyers" list for the first time, while Americans' interest in Portugal has increased by 17.5%.

The UK-based real estate portal company Kyero has highlighted the potential of setting a record number of European real estate transactions in 2024. The company described a "backlog of demand from UK buyers" due to a possible relaxation of 90/180 day residency restrictions post-Brexit. Analyzing one of the largest datasets in the industry (buyers from 195 countries and 900,000 properties sold by more than 10,000 estate agents), it was revealed that while there is increasing interest in European property in 2023 from many nationalities, particularly Spain, Portugal and Germany (interest in German property has increased by 50% compared to 2020), British interest has decreased slightly (by 8%).

Louise Dell, co-founder of Kyero, commented: 'We are still seeing significant interest from UK buyers, but it is clear that many people are backing out of deals in anticipation of news of changes to residency rules. With France and Spain now actively pushing for change, we may see the barriers open when the accumulated UK demand is realized, leading to a possible record year for international real estate transactions in 2024.

The top ten most popular locations for foreign real estate buyers in Europe have traditionally consisted exclusively of Spanish locations, but in 2023, two Portuguese locations were featured for the first time: Albufeira and the capital Lisbon.

Louise Dell adds: "The appearance of two Portuguese locations in this year's top ten list is a good example of how the growing interest of new nationalities of buyers - in this case especially Americans, where we see interest in Portuguese real estate increasing by 17.5% in 2023 - is changing the landscape. "

Kyero was established in 2003 and has since grown to become the UK's largest international real estate portal with over 900,000 properties for sale across Europe. It has partners from more than 10,000 real estate agencies in Spain, Portugal, Italy and France, including Re/Max, Century 21, Engel &