Chinese Real Estate Investment in Portugal´s capital, Lisbon, fell 46,5% to EUR 54 million last year, according to data from Confidencial Imobiliário.
Chinese investment in housing has been falling since 2020, when it totalled EUR 183.8 million, and is now only 6% of the total foreign acquisitions in Lisbon.
Last year, foreign investors spent a total of EUR 911.8 million on the purchase of housing in the capital, a recovery of only 0.2% from 2022.
Portugal’s Revised Golden Visa Scheme to Boost Investment Funds
Despite the end of the golden visas for real estate purchases, investment remained in the range of EUR 900 million, which was reached for the first time in 2021, when it exceeded EUR 957 million.
Americans invested the most in residential real estate in Lisbon last year (EUR 141 million), an increase of 20% from the previous year.
French nationals disbursed EUR 116.4 million in residential real estate, a 27.5% drop from 2022. Investment from Brazil also fell, to EUR 55.6 million, along with Germany, to EUR 54.2 million.
Portugal realtors lure Chinese investors with serviced appartments and real estate funds
The average investment by foreigners for a house in Lisbon reached 578,196 euros last year, an increase of 8% compared to 2022.
Last year, the total investment in housing in Lisbon stood at 2.217 billion euros, a decline of 9% compared to 2022. This breakdown was due to the drop of the domestic market, of 14%, to EUR 1.306 million.
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