The extent to which Portugal’s improving housing market is being propped up by foreign buyers was laid bare by figures showing that 20% of Portuguese property purchases in the first quarter of this year were made with overseas money.
New figures published by the Real Estate Association APEMIP show that thousands of Britons are taking advantage of a combination of favourable economic factors, including a strengthening Portuguese housing market, improving domestic economy and strong sterling exchange rate against the euro.
In terms of foreign buyers, British nationals represented 18% of the total, second only to the French, which secured a 26% share of the market.
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