Why are so many Americans moving to Portugal in 2023?

Why are so many Americans moving to Portugal? - Portugal Business News

Portugal news - Why are so many Americans moving to Portugal in 2023 and where are they buying property? According to a recent article in The Economist, more and more Americans are moving to Europe and Portugal to escape violence and political strife in the US, and the main drive behind this trend is that they are “fleers” rather than “seekers”.

In the last decade, the number of Americans who moved to Portugal tripled to almost 10,000, which is more than the number having moved to the Netherlands that went from 15,500 to 24,000, but which is less than the number having moved to Spain that went from 20,000 to 34,000.

What is attracting so many Americans to Portugal and where are they buying property?

North Americans have become the main buyers of luxury properties in the Lisbon region in 2022, according to a study. In Portugal, 6% of property sales were due to foreigners, out of which a 15% share was due to American buyers.

40% of Americans that decided to invest in Portugal have chosen Lisbon to buy property due to competitive prices, but also because of a number of factors including security, climate, quality of life and the high quality of health and education services. Americans have become the main investors in luxury properties in the Lisbon region and, while the average amount invested by Americans to buy a luxury property in Portugal is around 850,000 Euros, this value is increasing in line with rising property prices.

According to the Berkshire Hathaway HomeServices Summer 2023 European Market Report, the luxury real-estate market in Portugal is trending and buyers are now choosing properties that have environmental certifications and that are at a walking distance to local shops as they are looking for a relaxed lifestyle.

Americans are tired of living in a country where they no longer feel safe, where property prices are becoming unaffordable, with a rising cost of living, and with more and more political instability.

The regular Living in Portugal roadshows that are organized by private company Open Media in the US are attracting a large number of middle-class Americans who no longer believe in the American dream, for now they have turned their eyes towards the Portuguese dream.

Relaxing with a glass of wine and enjoying the Portuguese sunset is an affordable dream and Portugal is now the new American dream.

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