Buyer demand for Portugal jumps 34% in a year
- The number of buyer enquiries for properties in Portugal jumped by 34% in February compared to last year, as eased travel restrictions helped more buyers to progress planned moves
- The Algarve remains the most popular location buyers are searching for, while Madeira jumps from fifth place last year to second
- Vilasol in the Algarve topped the list of hotspots British buyers have been searching more than last year, with searches more than tripling (+231%)
- Lagoa is the second buyer search hotspot (+101%) and Funchal is third (+56%)
New data from the UK’s biggest overseas property website Rightmove reveals that the number of enquiries from British buyers for properties in Portugal jumped by 34% in February compared to the same period last year.
As restrictions of travel between the two countries has eased over the last year, the data suggests early signs moves are being progressed in one of the most popular countries traditionally for British buyers.
The Algarve continues to be the most popular location British buyers are searching for in Portugal, while Madeira is now second after being fifth place last year.
Vilasol in the Algarve, known for its golf course, has topped the list of hotspots British buyers are searching for more than this time last year.
Searches for Vilasol have more than tripled compared to last year (+231%). Lagoa is the second buyer search hotspot (+101%) and Funchal is third (+56%)
Rightmove’s Overseas Insights Expert Rachel Beaton said: “Travelling to countries such as Portugal to view properties is significantly easier now than it was this time a year ago, when if we think back, we were just coming out of our third lockdown period here in the UK. We’re now seeing a rise in enquiries from British buyers about properties available in Portugal, as many look to either begin the process of buying abroad, or progress plans that had been paused. Overall, we’re seeing confidence from British buyers to get on with moves slowly returning and we’d expect this to gradually increase this year”
David Rowat, Managing Director at OliveHomes.com said: “Resort-based locations such as VilaSol and Vilamoura have seen more enquiries from British buyers than other areas in the last few years. Clients clearly want to have facilities at their doorstep. They want to be able to walk to amenities and have leisure options (golf, tennis, keep fit) easily available to them. Resort based locations provide this and are often more secure with closed condominiums and security patrols. British buyers are also looking at Portugal as the new place to work or live – residency questions are top of the list. In 15 years I have not seen the Portuguese property market as busy as it is now. Not only is the market seeing continued increased demand, but this is intensified by pent-up demand from clients who can’t currently find what they want. Clients are returning after three months expecting to find a new selection of properties to view and, due to the lack of new listings, this isn’t always the case. We are also helping a lot of clients with refurbishment projects, which will add value to their investments.”
Portugal search hotspots
| Location | Increase in searches February 2022 vs February 2021 |
| Vilasol | +231% |
| Lagoa | +101% |
| Funchal | +56% |
| Silves | +39% |
| Sintra | +36% |
| Faro | +35% |
| The Azores | +24% |
| Santa Barbara de Nexe | +20% |
| Madeira | +13% |
| Porto | +9% |
Portugal most searched locations
| Location | Rank |
| Algarve | 1 |
| Madeira | 2 |
| Vilamoura | 3 |
| Albufeira | 4 |
| Silver Coast (Costa de Prata) | 5 |
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Notes
- Buyer searches in Portugal compares February 2022 with February 2021
