French purchasing more property in Portugal than Britons or Chinese

According to Real Estate Association APEMIP, this combines a trend noted in 2014.

Foreign investment in Portugal made up 20 percent of total realty transactions throughout the very first quarter of this year.

This figure is down by 2 percent on in 2014, and down three percent on the exact same duration of 2014.

However, APEMIP said this could be explained by the number of nationwide transactions having actually risen over the very same period.

In comments to Publico, APEMIP chairman Lu s Lima said that based upon the performance of the property market throughout the very first quarter of the year, property sales are most likely to enhance by 30 to 40 percent during the course of 2016 in relation to last year.

In terms of foreign buyers, French nationals represented 26 percent of the total, easily surpassing British purchasers, who grabbed 18 percent of the marketplace share.

Chinese financiers on the other hand covered 13 percent of the market, which is mainly due to the Gold Visa program which has in recent months recovered, following a corruption scandal at the start of 2015.

Other significant foreign property buyers are Brazilians with 8 percent of the share, followed by Belgians (five percent) and Swiss (4 percent).

Lisbon, Porto and the Algarve remain the preferred areas for immigrants to acquire property in Portugal, APEMIP stated.