Porto, Gaia and Matosinhos most sought after by foreigners

The Greater Porto area is the most sought after area in the North of Portugal when it comes to overseas investment attraction.

This is according to recent data from estate agents RE/MAX which found that between January and November, 2024 the Borough of Porto represented 33.7% of demand, Vila Nova de Gaia 26.4%, and Matosinhos, 11.9%.

The largest residential real estate agency in Portugal registered house transactions in all 17 districts across the Porto Metropolitan Area, with particular focus on five of them where buoyant sales were posted.

This was particularly evident in the Borough of Porto itself which represented a third of demand, followed by Vila Nova de Gaia with a quarter of demand.

Some 51.3% of transactions were home purchases compared to property rentals.

The data now shows that, by municipality, Porto leads the ranking of foreign demand for real estate, registering 33.7% of the total in the region. Vila Nova de Gaia (26.4%), the municipality that grew the most in the preferences of citizens across borders; Matosinhos (11.9%); Maia (7.7%) and Gondomar (6.2%), the latter losing the 4th position replaced by the municipality of Maia, responsible for one in 13 concurrent transactions.