Non-residents accounted for 11.5% of property purchases

Residents in France who have the most properties acquired in Portugal.

Last year, 7.7% of real estate transacted in Portugal were sold to non-residents, corresponding to 11.5% of the total value traded, the National Statistics Institute (INE) announced Friday.

These figures compare with 7.3% and 12.5%, respectively, in 2016. Sales of real estate to non-residents increased by 19.2% in number and 22.6% in value compared to 2016

“As in the previous year, residents in France were the most active in Portugal (19.6% of the total), followed by residents of the United Kingdom (16.2%),” the statistics agency said in a statement.

The average value of buildings sold to non-residents in 2017 (160,407 euros) was almost 50% higher than the average value of global transactions (107,381 euros), explains INE.

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