With the rise of luxury real estate investment in Portugal , North Americans are increasingly involved. According to the coordinator of DS PRIVATE, Adriano Nogueira Pinto, this interest is on a growing trend.
Residents of the United States see luxury real estate investing in some European countries as a very lucrative opportunity. Portugal, being in 4th place on the list of the most peaceful countries in the world, managed to attract the attention of foreigners.
These investors see our country as an excellent opportunity to buy a house to live in as a family or a holiday home . There are many reasons that captivate North Americans to consider investing in real estate in Portugal.
4 Factors that Attract North American Real Estate Investors
Real estate investment in Portugal is an advantageous bet
“Portugal has become a popular option for parents looking to buy luxury properties to leave to their children, as taxes on wealth, inheritance or assets are much lower than those paid in the USA”, explains the national coordinator of DS PRIVATE .
In fact, in the United States, inheritance tax can reach 40%. In Portugal, there is exemption from inheritance tax for spouses, children, grandchildren, parents, grandparents and civil partners.
This tax advantage is a strong motivation that attracts the attention of foreigners to invest in Portugal and its luxury real estate.
Suggested reading: Luxury real estate: What makes this sector so attractive?
Big difference in purchasing power
GDP per capita in Portugal stood at 23,290 euros in 2022, while in the United States it reached 72,600 euros. This means that, on average, a person in the United States has an economic production more than three times that of a person in Portugal.
Based on this substantial difference in GDP per capita between the two countries, we can conclude that North Americans have higher purchasing power than the Portuguese.
According to Adriano Nogueira Pinto, “our country is quite attractive from a financial point of view, taking into account the commercial value of properties, even in the luxury segment, and the tax benefits that foreign investors can enjoy are appealing”.
Additionally, it is, on average, 42% cheaper to live in Portugal (both in terms of daily expenses and house prices). All of this makes North Americans increasingly consider making a real estate investment in our country.
Portugal offers social conditions that North Americans value
“Our country is very attractive to live in from the point of view of security , climate, landscape, hospitality, and is also extremely attractive for various latitudes”, states the coordinator of DS PRIVATE.
One of the points that surprise North Americans is the quality of healthcare services in Portugal and their costs, which are much more favorable than in their homeland. The same applies to education. In Portugal, the percentage of children in school is much higher than in the United States.
Landscapes and climate make Portugal the new American dream
As for landscapes and climate, Portugal also has a special charm that appeals to investors . In general, it is a less urbanized country than the large American metropolises, which provides a better quality of life .
The mild temperatures throughout the year and the beauty and diversity of the landscapes are also important factors in the decision to invest in national luxury real estate . Maybe that’s why Adriano Nogueira Pinto calls Portugal the “new American dream of many investors.”
In short, this interest on the part of North American citizens in real estate investment in Portugal is, without a shadow of a doubt, an added value for those who work in this sector.
Would you like to work in a potentially lucrative area, such as luxury real estate? So, join DS PRIVATE! When opening your own agency you will have exclusive access to a network of specialized professionals and all the support to achieve success.
