Foreigners continue to represent over 22% of house demand in Portugal.

Are you a foreigner looking to invest in a property in Portugal? Find the right house and non-resident housing credit for you! For this purpose, count on the help of the real estate agency Casa no Minuto and the credit intermediaries of Poupança no Minuto.

Search for homes by foreigners in Portugal cools down, but still represents over 22%.

With the end of golden visas and the Non-Habitual Resident (NHR) regime, the demand for buying or renting a house in Portugal by foreigners has slowed down.

The data is revealed by Idealista and attribute the cause of this cooling in demand to the end of tax benefits.  

"The announced end of these tax benefits coincides with a decrease in international demand for houses for sale at the end of 2023, especially among Americans. During the same period, there was also a decrease in foreign interest in renting a house in Portugal, as suggested by idealista/data's data", it can be read in a statement from Idealista, on Notícias ao Minuto.

However, even though the demand has slowed down, "foreigners continue to represent more than 22% of the total demand for buying and renting houses in our country".

According to the same data, "in Funchal (45.3%), Ponta Delgada (40.1%), Faro (32.7%), and Viana do Castelo (31.1%), three out of ten people looking for houses to buy were foreigners," explains the news.

End of golden visas and NHR regime, but beginning of a new NHR 2.0.

The golden visas and the regime for Non-Habitual Residents (NHR) have ended, but in compensation a new tax incentive is now in effect: the new NHR 2.0. Link, in order to attract talent and promote research and innovation in the country. It should be noted that there is a transitional rule for the application of the regime, for those who were benefiting or were in the process of fiscal transfer to Portugal.

This new regime consists of a special rate of 20% on professional income (employment contract or provision of services), in addition to an exemption on most income received abroad (excluding retirement pensions).

You can access this tax incentive for a period of 10 consecutive years, as long as you remain a tax resident in Portugal and receive income from eligible activities.

Want to know more about this incentive, so you can buy your house in Portugal? Talk to a credit intermediary of Poupança no Minuto! We can help you for free in contracting your non-resident housing credit, and the real estate consultants of Casa no Minutoin searching for the property! So, if you are a foreigner in Portugal, count on our support throughout your investment process in a property in Portugal!