The region of choice for foreign investors is the Algarve, and in Portimão, nine out of ten property purchases brokered by Engel & Völkers were carried out by foreign buyers from countries such as Germany, England and Sweden. Vilamoura, Quarteira, Carvoeiro, Porches and Tavira are the next Algarve regions on the list.

These results are according to a market report by real estate company Engel & Völkers, which reveals that in the first quarter of the year 5.9% of transactions were carried out involving foreign buyers.

"Almost half of the foreign investors belong to the European Union and transactions with buyers with tax domicile in the EU increased by 72.3%. per square meter (m2)", the real estate company said in a statement.

Vilamoura and Quarteira follow Portimão, with foreign buyers representing 75% of operations, and most foreign investors are French and Swedish. The Carvoeiro and Porches area attract more French and Swiss buyers. In Tavira, the search for properties is made by the Dutch, Swiss, North Americans, Irish and French.

With regard to Lisbon, Alcântara, Parque das Nações, Penha de França and São Vicente are the areas that most attract foreign investors.

In contrast, Porto is still something 'unknown' for the vast majority of foreign buyers. However, there is demand in some areas such as Foz do Douro and the historic centre.

The president of Engel & Völkers for Spain, Portugal and Andorra, Juan-Galo Macià, states that "in 2022 there continues to be a growing interest from foreign investors in the real estate market in Portugal by investors, usually attracted by the country's climate and the proximity and quality of the beaches on the Algarve coast. On the other hand, Porto and the West have great growth potential".