In 2023, practically a third of 2.2 billion euros invested in the residential market of the Lisbon Urban Rehabilitation Area (ARU, which includes 21 of the municipality’s 24 parishes, excluding Parque das Nações, Santa Clara and Lumiar) came from the hands of foreigners, from according to the survey carried out by Confidencial Imobiliário.
If this data is not completely surprising, there are two major changes regarding the nationality of buyers, compared to the previous year, according to data cited by the News Diary: the abrupt drop in Chinese investment and the rise of the British in the ranking. Last year, therefore, the North Americans led purchases by foreigners, with 16% of this share, followed by the French (13%) and the British (9%), whose invested capital increased by almost 50%. Chinese investment has fallen 46.5% (you 101 million euros spent in 2022 compares to 54 million euros of capital invested last year).
Portuguese buyers invested less 23% in homes than in 2022.
Where are foreigners investing?
As for geographic preferences, Estrela, Santo António and Arroios were, last year, the main drivers of foreign investment in housing. But areas such as Campolide and Alcântara are also starting to move more vigorously, according to the survey carried out by the same company. While in In Campolide, investment in housing reached 55.1 million euros, in Alcântara, it reached 31.7 million.
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Tags: North Americans dominate home purchases Lisbon Chinese lose prominence
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