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Demand for homes for sale in Portugal soars, says Rightmove

57590849 10796981 The areas that have seen the biggest increases in demand in Port a 1 1652105482702

Demand for overseas homes in Portugal has soared thanks to easier access to passport control and flexible working.

The number of buyer inquiries for a home in Portugal rose 24% in April compared to the same period last year, according to new figures from Rightmove.

At the same time, experts say there has been a shift among potential UK buyers who previously looked to the country for a potential holiday home, but are now increasingly looking to settle there full-time. weather.

It comes after Portugal became the first EU country to allow UK passport holders to use ePassport gates, in a bid to speed up entry.

The areas that have seen the biggest increases in demand in Portugal among UK overseas buyers have been revealed by Rightmove

The areas that have seen the biggest increases in demand in Portugal among UK overseas buyers have been revealed by Rightmove

This four-bedroom house in Porto Santo, Maderia, Portugal is for sale for ¿590,000, or 503,501, via Sotheby's International

This four-bedroom house in Porto Santo, Maderia, Portugal, is for sale at €590,000, or 503,501, via Sotheby’s International

David Rowat, of estate agent OliveHomes.com, said: ‘The demand from UK buyers is relentless. This year has seen unprecedented demand as people wish to pursue the dream of having a home in Portugal.

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“One of the biggest changes we’ve seen is the demand for full-time relocation or part-time telecommuting.

“Historically, demand was weighted 80% for holiday homes and 20% for relocation. This has changed to 50/50 and many customers are now asking for residence and school information.

He added that the biggest growth in demand was for new, modern, family detached villas, based in resorts such as Vale Do Lobo, Quinta do Lago, Vila Sol and Vilamoura.

“In terms of locations, we can see that the Algarve remains extremely strong with increased interest in the outskirts of Lisbon – Setúbal – and Madeira,” he said.

“Madeira is a beautiful island which is becoming more and more targeted due to the additional value acquired compared to mainland Portugal.

“UK buyers remain extremely confident about Portugal’s future prospects, in terms of investment and quality of life.”

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Rightmove also revealed buyer inquiries rose 25% in the last week of April compared to the previous seven days after a faster entry requirement for Britons was announced.

The real estate website said the most popular destination in Portugal is the island of Porto Santo, near Madeira, with searches more than tripling from last year.

Searches there rose by 267%, the biggest jump in searches of any region in Portugal.

It is followed by the picturesque village of Comporta in Alcácer, with searches more than doubling, up 129%, while the Algarve town of Vila Real de Santo António is third, up 82%.

Rachel Beaton of Rightmove said: ‘The decision to make it easier and faster for Britons to enter Portugal will boost the confidence of British buyers who are interested in buying a home abroad but may be hesitant again about the various travel regulations that are still in place since the pandemic or post-Brexit.

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“We are seeing strong demand from UK buyers for properties in Portugal, and this will only make it easier for these potential buyers to view properties for sale.”

Rightmove declined to quantify demand and the number of buyers now looking to buy in Portugal.

Interest was also likely to be significantly lower last year due to lockdowns and lack of overseas travel last April.

What you can buy in Portugal…

This luxurious two bedroom villa in Vila Real de Santo António in Portugal is for sale for ¿1.6m or £1.36m via estate agents Laws Property

This luxurious two-bedroom villa in Vila Real de Santo António in Portugal is for sale for €1.6m or £1.36m via estate agents Laws Property

This three-bedroom house in Maderia, Portugal is for sale for ¿795k, or £679k, via Sotheby's International

This three-bedroom house in Maderia, Portugal is for sale for €795,000, or £679,000, via Sotheby’s International

For those on a budget, this two-bedroom apartment in Portugal's Algarve is on sale for ¿173k, the equivalent of £148k, via estate agents kw Flash

For those on a budget, this two-bedroom apartment in Portugal’s Algarve is for sale for €173,000, the equivalent of £148,000, via estate agents kw Flash

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