Americans are increasingly looking for premium homes. The ‘yankee’ luxury itinerary in Portugal essentially involves three regions.
Prices for luxury homes in the Algarve have already skyrocketed with the increase in demand. A strong dollar is crucial. Living the Portuguese dream is getting more expensive.
The appreciation of the dollar has boosted purchases by these clients who value the proximity to the US (the closest for those looking for a European destination), safety, the free national health system and, above all, the quality of life”.
This is how Sofia Baptista, director of luxury real estate consultancy A Quintela e Penalva | Knight Frank, describes the wave of Yankee clients who have arrived in the country in recent years. Since 2021, the consultancy has seen a 20% increase in North American clients “centered essentially on Lisbon and Cascais, Porto, the Algarve and more recently Comporta.”
And what are they looking for? “In the more ‘prime’ segment, Quinta da Marinha in Cascais and the Comporta Melides axis” are the favorite locations. But also “properties close to cities and with easy access”. In the cities, “they are looking for properties in central areas where they can get around on foot or by bicycle”.
“Their decision to choose Portugal to live in is mostly to do with the lifestyle our country offers. North American clients favor location, comfort and security,” adds the director.
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