Over the past couple of years, interest in Portugal from the United States has grown significantly. This summer saw a record number of American tourists visiting Portugal, and the country saw the most significant rise in tourism from the US since 2013.
Portugal’s Growing Allure
Up until a couple of years ago interest in Portugal from Americans was relatively low, and it wasn’t among the top destinations for visitors from the US. This is something that has very much shifted in recent years with interest not only growing among tourists, but also among those looking to purchase second homes, or make a permanent move to Portugal.
The number of residence permits granted by Portugal to citizens of the United States of America increased by 45% in 2021. Data from Google trends has also confirmed that interest in moving to Portugal from American citizens is at an all time high, with more people searching for information about moving to Portugal than about the usual top performers, Spain and France.
What Does Portugal Have That Americans Are Looking for?
There are a number of reasons for the growing number of US citizens looking to purchase property in Portugal, and across Europe. The strength of the dollar’s purchasing power, alongside the high cost of property across the US, has only accelerated this interest in the last few months.
Portugal in particular has a lot to offer American buyers. This year Portugal ranked as the 6th safest country in the world and the 5th in Europe. The comparative cost of living is lower in Portugal and the quality of life is high, with healthcare being easier to access and far more affordable for the vast majority of Americans.
On top of this, Portugal ranks as the seventh most proficient country in the world when it comes to speaking English as a foreign language, easing the transition for those moving over here.
Are Demographics Shifting Among Foreign Buyers?
Traditionally, Portugal has primarily been of interest to those who have retired and are receiving a pension, thanks to the tax incentives that come with the non habitual residency (NHR) scheme. Trends however, are shifting.
With more and more people being able to work remotely, the number of young families and remote workers looking for a change of scenery abroad is on the rise. Portugal has invested a large amount in its digital infrastructure over the last decade making the country a great choice for digital nomads and remote workers. Lisbon’s tech scene is also one of the best in europe.
A Home Away From Home?
Portugal is especially popular with Californians, which is unsurprising seeing how similar the landscape and climate are, with Portugal boasting 300 days of sunshine every year.
As well as having a huge number of golden, sandy beaches to choose from, there are some excellent places to surf throughout the country, with surfing hot spots attracting people from all over the world.
Portugal has also caught the eye of a number of celebrities including Madonna, Scarlett Johansson and John Malkovich, all of whom have bought a house here over the past five years.
If Portugal is calling your name, and you’d like to know more about what’s put this country on the global radar, make sure to check out our property portfolio, have a look at our videos about Portugal, or get in touch with our team directly.