The number of properties in Portugal being bought by foreign residents has increased again, according to the latest data from the Portuguese Office for National Statistics (INE).

Statistics from the INE released this week have shown that nearly one in every 12 properties that were sold in Portugal, during the past year, were purchased by non-Portuguese residents with this then also representing 12 percent of the total spending on real estate in the country.

On average it was found that foreign property buyers were spending around 160,000 euros on a home in Portugal, a much higher level than the average spend for Portuguese buyers, who were found to be spending around 107,000 euros on each property on average.

The number of real estate transactions in Portugal by foreign buyers was also up by almost 20 percent on the previous year while the value of the purchases was up by some 23 percent.

According to The Portugal News, at the top of the list of nationalities are French nationals, representing one in five sales, followed by the UK (16.2 percent), Brazil, China and Switzerland.

As expected, the majority of sales of property were in the Algarve, with 42.8 percent of the national total involving non-residents, followed by Lisbon with 35 percent. The Portuguese capital was however, where foreign buyers spent the most on real estate, with average sales averaging 276,000 euros, this reflects the marked increase in the average cost of property in the capital which has been witnessed over the past year.

The Algarve continues to be a top choice for foreign investors not only due to the mild weather, established infrastructure and high level of services but also due to the favourable tax conditions that are available to non-residents.

For further information about the benefits of buying in Portugal, please contact a member of the team directly by This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone on +351 282 356 952.