The study was carried out for the Salão do Imobiliário e do Turismo de Portugal in Paris, which brought to the French capital Portuguese real estate companies, international law firms and Portuguese regions that want to show what they can offer to French looking to come to Portugal.

Need to open up

At a time when real estate prices are skyrocketing in Portugal and it is becoming difficult for Portuguese families to acquire a home, the Secretary of State for Internationalisation, Bernardo Ivo Cruz, argues that the Portuguese economy must remain open to foreign investment that generates wealth for the country.

"Real estate is, like everything else, suffering the impact of the completely abnormal situation we are experiencing. [...] We cannot close ourselves off and we need to be integrated into an open, European and Atlantic economy. We attract people and investment to Portugal which, in turn, creates jobs that benefit the Portuguese, with businesses that pay taxes", declared the minister.

Bernardo Ivo Cruz also declared that both the Government and the municipalities are mobilised to solve the housing problem in Portugal, with "a large program of investment in real estate and construction".

New profile of foreign investors

For the Secretary of State, the profile of people who move to Portugal is also changing, contributing to the country's development.

"We want to attract good investment to Portugal, a structuring investment that creates jobs and the French people who are going to Portugal now belong to a new generation, they are younger French people, with children, who settle [in the country] to work, generate wealth and raise their families", he explained.

In a study carried out with around 1,000 French people, around 20% responded that they could effectively live in Portugal if they had a job that allowed them to work remotely.

As for reasons, 'bon vivre', or quality of life, is what attracts the French the most, as does the cost of living, the climate, the price of houses and security.

In a climate of uncertainty with the general increase in prices and the war in Europe, these characteristics seem to become even more attractive to the French.

Investment by emigrants, especially the Portuguese community settled in France, also continues to be one of Portugal's priorities.

"It is always a good time for emigrants to invest in Portugal. I have had many conversations and many meetings with our community spread all over the world and there is a great desire on the part of everyone to invest. From large investments to small investments in villages from which people left and they are all very important", concluded Bernardo Ivo Cruz.