However, it is the Portuguese who are leading the search for premium homes to buy in the country, properties which cost more than 1 million euros.

Demand for premium homes for sale in Portugal reached one of its highest levels in six years towards the end of last year. And 2025 has started off strong, with the Portuguese representing the vast majority of this interest (73%), according to data from idealista.

Foreigners also have a significant representation in the search for luxury homes in Portugal, representing 27% of the total in the first quarter of 2025. This highlights the consolidation of international interest in purchasing luxury homes in our country, following the shock felt with the end of tax incentives for investing, living and working in Portugal, including the end of golden visas for real estate investment at the end of 2023 and the non-habitual resident regime at the beginning of last year.

It is on the Portuguese islands where international citizens most seek luxury homes for sale, namely in Ponta Delgada, on the island of São Miguel (Azores) and in Funchal, on the island of Madeira, where they represent more than 40% of the total demand. There is also high interest in Faro, as 4 in 10 people looking for premium housing do so from abroad.

In both Lisbon and Porto, only around one in five potential buyers of luxury homes are foreigners.

Foreign buyers

Analysing the origin of international demand for luxury homes for sale in the country, it is clear that it was from the United Kingdom that it was most expressive at the beginning of this year (representing 15% of total foreign interest), the same data indicates.

The US is the second country of origin with the greatest weight in foreign demand for premium homes in Portugal (13.1%) at the beginning of 2025. This means that North Americans with high purchasing power, as well as Portuguese emigrants in that country, continue to keep an eye on the Portuguese market, at a time when the trade war generated by the tariffs imposed by US President Donald Trump has increased uncertainty in the world and within their own country.

The international demand for luxury housing in the country from Germany, Spain, France and the Netherlands represents between 10% and 5.5% of the international total. And Brazil appears in seventh place, with a weight of less than 5% in the high-end residential market.

In the municipality of Lisbon, the most expressive demand for luxury homes for sale comes from the USA, Spain, the United Kingdom and Brazil. And in the municipality of Porto, the interest shown by those living in the USA, Spain and France stands out.

On the Portuguese islands, there is a high level of interest from Germany, the United Kingdom and the USA in luxury homes for sale in Funchal. And in Ponta Delgada, the greatest international demand comes from the USA, Canada and Germany.