“Lisbon represents the largest share of total orders, with 19.3%, followed by Faro and Porto, with 12.2% and 11.5%, respectively”, according to the report for the third quarter of 2023 by idealista/créditohabitação.
It is also in these districts that the purchase prices and loan amounts requested are higher in the third quarter of 2023 – especially because the prices of houses for sale are higher here. In Lisbon, Faro and Porto, non-resident citizens want to buy houses at prices above 240 thousand euros (on average). And in these districts, they request higher-value housing loans (between 179 thousand and 200 thousand euros).
“There is a tendency for non-residents to submit applications for housing credit in coastal areas”, highlights a report from idealista/créditohabitação. It is smaller in the interior of the country, with there even being districts where the weight of requests is less than 1%, as is the case of Bragança, Guarda, Portalegre, Évora and Beja. It should be noted that it is in Beja, Castelo Branco and Bragança that lower-value housing loans (less than 60 thousand euros) are requested to buy houses at lower prices (less than 90 thousand euros)
Financing percentages vary between 57% registered in Bragança and 88% requested in Guarda. Non-residents apply for housing loans with a maximum average age of 58 years in Portalegre and with a minimum average age of 38 years in Bragança.
The title is misleading as the article is about both buying and borrowing to buy property, not about where foreigners are buying.
By Billy Bissett from Porto on 01 Nov 2023, 11:52
Not really surprising or newsworthy. But it shows where to avoid, in order to not be part the all-consuming herd.
By Steve from Algarve on 01 Nov 2023, 13:10