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Demand For Portuguese Property Hits Record High!

Demand For Portuguese Property Hits Record High!

An article published my the property portal The Move Channel has named Portugal as the second most popular country in the world in which to purchase property.

“Demand for property in Portugal has reached a record high this summer, according to new research from TheMoveChannel.com. Enquiries for Portuguese real estate surged 32 per cent in August 2014, making the country the second most popular country on the portal for the first time.


Portugal is now the second most popular country in the world, behind only the USA.


Portugal stole the international property stage for the second month in a row in August. After climbing into third place in July 2014 for the first time since November 2013, Portuguese property‘s popularity climbed even higher last month. In real terms, enquiries surged 32 per cent from July to hit a nine-month high, enough to see Portugal overtake Spain and rise into second place.


On a quarterly scale, Portugal received an average of 592 enquiries in the three months to August 2014, up 25 per cent from the previous three months (March to May 2014).


This is not the first time Portugal has proven more popular than Spain: in real terms, August marks the third time in 12 months that Portuguese real estate has received more enquiries than Spanish.

On a monthly level,  while Spain’s enquiries stayed steady in August compared to July, Portugal’s soared, with the country receiving 4 per cent more than its neighbour.






TheMoveChannel.com Director Dan Johnson comments: “The US property market has begun to moderate this year following months of booming prices and demand. This natural step in its recovery means that affordability has dropped. As a result,  investment from overseas buyers has narrowed to select areas, such as Florida and North Dakota, where it continues to be strong.

“As buyer interests become more diverse, with a large number returning to Europe, Portugal has emerged as the new summer favourite among buyers. It is telling that Portugal’s rising popularity is not at the expense of Spain: demand for Spanish property remained steady, in real terms, compared to the previous month. Rather, Portugal has overtaken Spain thanks to its own increasing appeal.”


Caroline May, Operations Director at Algarve-based agency Ideal Homes Portugal, says that they have seen interest rise significantly in 2014.

“Our property sales are double those of the same period last year,” she tells TheMoveChannel.com.


Indeed, Ideal Homes Portugal have had to open a second office in Vilamoura to cope with the demand, which remains driven by the holiday home hub of the Algarve.

“In terms of location,” Caroline adds, “the usual favourites are still popular – with plenty of demand in Albufeira, Lagos and surrounding areas.”


For more information on buying property in the Algarve please visit www.idealhomesportugal.com

or come along and meet the team at one of our 7 UK property shows! For information on dates and venues visit www.theoverseaspropertyshow.com or call our team on 0800 133 7644