US market continues to boom for Portugal

The success of the ´Living in Portugal roadshow’ event in the United Sates last week has proven once again that an increasing number of US property buyers are interested in relocating to Portugal.

Seminar events held in Austin, Atlanta and Boston, organised by Open Media, publishers of the Portugal Resident and Essential Algarve, on February 24, 28 and March 2 respectively attracted over 500 people.
Ahead of the events, the organisers carried out an online survey which was completed by more than 50% of the people who attended the events.
Asked about their plans for property in Portugal, 28% replied that they intend to buy, with 25% looking to rent and 49% still unsure.
Interest from a pure investment perspective was also significant, with more than 10% specifically looking to invest in a golden visa eligible investment fund.
Asked when they planned to move to Portugal, 28% replied that they would relocate within two years or less, with 11% planning to move within the next 12 months.
The most popular visa option for Portugal was clearly the D7 passive income option chosen by 35%, followed by the D8 so-called digital nomad visa selected by 19%.
The survey goes on to reveal data such as age groups, with 52% aged between 45 and 60, 26% over 60 and 20% between 30 and 45.
Those looking to retire to Portugal made up the largest group representing nearly 40%, followed by 24% planning to work and 9% aiming to invest.
As for the most popular regions of Portugal, Lisbon led the way representing 27%, followed by the Algarve with 10% whilst over 45% were not sure of which part of Portugal they would choose.
“The question of location in Portugal is often a grey area for American buyers,” said the event’s organiser Bruce Hawker. “This was our third US roadshow and I have had the chance to interact with hundreds of the people who attend our events.
“The fact is that they see Portugal as a tiny country. Many of them have been to Lisbon from where they rent a car and strike to other areas, and they think nothing of the two and a half hours it takes to drive from Lisbon to the Algarve, for instance.”
At last week’s seminars, two discussion panels were held at each session, mediated by Bruce Hawker who was joined on stage by property professionals from the Algarve and Lisbon respectively.
For the Algarve session, Bruce was joined by Alda Filipe of Kronos Homes, Jaan-Claire Rodrigues of Quinta do Lago and João Richard Costa of Ombria Resort, whilst for the Lisbon session he was joined by Sara Allen of the Martinhal Group, representing the Martinhal Residences in Lisbon and the United International School, along with Pascal Gonçalves of Lisbon-based property development company Libertas.
“These panel sessions covered lifestyle aspects of each area, along with information on real estate, and I have no doubt that we whetted the appetite of many people who had not yet considered the Algarve,” said Bruce.
A total of 13 companies from Portugal joined Open Media on the roadshow offering real estate opportunities, legal advice, Golden Visa-eligible investments, relocation services, forex solutions and health insurance.

Upcoming international events

The dates have now been announced for Open Media’s next ‘Living in Portugal’ stateside roadshow taking place in New York, Chicago and Toronto on June 15, 19 and 22, respectively. Plans are also in place for a west coast roadshow taking in Los Angeles, San Francisco and Seattle in September.
The company’s international events schedule for this year also includes returning to South Africa in November, following last year’s successful events in Johannesburg and Cape Town, and an investment event planned for Hong Kong in early December.
Here in Portugal, the company’s next ‘Living in the Algarve’ events will be taking place in Carvoeiro, Tavira and Lagos in April, May and June, respectively, with further events scheduled for the autumn.

‘Living in Portugal’ US roadshow participating companies:

Fine & Country International Realty (Portugal)
OptylonKrea / Ando Living
Libertas
Global International Relocations
Martínez Echevarría & Ferreira law firm
Vida Fund
BlueCrow Capital
Kronos Homes
Quinta do Lago
Ombria Resort
Elegant Group
Currencies Direct
Medal Insurance
Dengun