Portugal is the New American Dream

Portugal currently has over 60,000 expatriates who have decided to live in the country, 11% of whom are American citizens. Christie’s Front Door’s report review for the year 2021 indicates that, of the 37 nationalities buying, the American client represented 7% of the overall sales volume, confirming itself as the third most preponderant nationality. With special interest in the Cascais area, almost all deals were done, and the average purchase price was over 1 million euros.

Hailing from cities like Portland, Chicago, San Francisco and even New York, they tend to live mainly in the more urban areas of Portugal. Access to transport, ease of doing business with English-speaking residents and opportunities for education, work and culture are the main reasons why Americans like the cities around Portugal, along with the practice of sports, from surfing to golf. And because health is the most precious good of all, another of the priorities for those who come to the country is also the health system. Countries like the United States have an exclusively private health service with very high prices, making medical assistance very expensive.

In the opinion of the luxury real estate brokerage network, one of the oldest cities in the world – at over 3,000 years old, Lisbon offers the perfect balance between modernity and tradition. In the greater Lisbon area, which follows the river and then the sea, you can find all the amenities you would expect from a capital city – museums, concert halls, restaurants, shopping and an international airport. And, just a few kilometres away, you can experience a completely different lifestyle in Oeiras and Cascais, close to the beach and sea. And these regions are particularly attractive among Americans, due to their city retreat atmosphere and water sports on offer all along the coast.

Christie’s Front Door shares the testimony of a New York family who came to Portugal and chose Oeiras to settle. “We have loved Portugal since we first came here over 10 years ago. We travelled from north to south on the coast and met many different places. We are completely in love with the country, its people, food and lifestyle. My husband is an avid surfer, which is a big draw, and of course the climate is wonderful too. In terms of lifestyle, it is somewhat similar to California,” she says. Both with important positions in multinationals and aged between 50-60 years, they chose a villa with independent fractions so that their daughters can have their own space: “We really liked the elegance, the light and the configuration of our new house. The fact that it allows our daughters to have their own private ‘home’ worked out perfectly!

According to the mediator, tax conditions are also a strong attraction for Americans, and Portugal often leads the ranking of the best places in the world to live. In addition to the Lisbon area, there are also communities of American expatriates in the Algarve and Porto, and the future prospects for this nationality living in Portugal are growing.

Article published on 31/03/2022 in Diário Imobiliário.