“Housing purchases by buyers with tax domicile outside the national territory in 2023 were mainly located in the Algarve (29.9%), followed by the North (17.5%) and Greater Lisbon”, according to the National Statistics Institute (INE).

In the Algarve, sales of accommodation to foreign buyers represented 27.2% and 38.5%, respectively, of the number and the total value of transactions in the region.

In the North, Centre, West and Tagus Valley, Greater Lisbon, Alentejo and the Autonomous Region of the Azores, there were increases in the relative weights of this type of acquisition, compared to 2022, in number and value, above the percentage point.

It is worth remembering that house sales fell 18.7% in 2023 to seven-year lows, generating a total of 28 billion euros, 11.9% less than in 2022.

Resident buyers accounted for 24.4 billion euros of the total amount transacted, and foreign buyers for 3.6 billion. Furthermore, the relative weight found last year for the national territory category, 87.3%, is the lowest in the series started in 2019 and reflects a reduction of 1.3 p.p. compared to the percentage in 2022.

Regarding the value per transaction, in 2023, each accommodation was sold, on average, for 205,193 euros, an amount that drops to 193,830 euros if a resident buyer is involved. Acquisitions of accommodation by foreign buyers were made, on average, for 276,897 euros, in the case of the European Union category, and for the Other Countries category, the value was 405,082 euros.