According to data from Idealista, one of the main real estate websites in Portugal, foreigners already represent around 35% of the people looking for a house on Terceira island.

The same figures show that, in Santa Maria, the weight of demand from abroad already exceeds local and national markets, standing at 59%.

The data relates to the interactions recorded on Idealista’s listings during the quarter ending in October of this year.

São Miguel had almost 36% of interactions from abroad, Pico 49%, Flores 48.9% and Corvo 48.6%. Graciosa recorded 48.3%, São Jorge 45.7% and Faial 42.4%.

During this period, the island of Madeira saw 42.5% of demand from abroad and Porto Santo 33.4%.

“What has been felt in Portugal in recent months is that there has been a recovery in interest from foreigners in buying a house in the country, after demand plummeted between December 2023 and July 2024, largely due to the end of these tax advantages. While in the second quarter of this year foreigners accounted for only 13.5% of the total demand for houses for sale in Portugal, in the three months ending in October, international citizens now account for 18.8% of the total (+5.3 percentage points),” it says.

The United States, Germany, and Canada are leading the search for homes in the Azores.

“The fundamentals of real estate in Portugal have not changed, and it continues to be an attractive country to buy a house and invest in this sector. Many foreigners continue to be attracted by the quality of life, safety, low prices, and climate that our country offers, which stimulates demand for housing, which is already very high and outstrips supply. It is because of this and other factors that it is anticipated that house prices will continue to rise in 2025,” concludes Idealista.

From a story in Diário Insular-José Lourenço, director. Images from Idealista’s website.

Translated to English as a community outreach program from the Portuguese Beyond Borders Institute (PBBI) and the Modern and Classical Languages and Literatures Department (MCLL) as part of Bruma Publication and ADMA (Azores-Diaspora Media Alliance) at California State University, Fresno, PBBI thanks Luso Financial for sponsoring NOVIDADES.