Every euro invested by a foreigner in a house in Portugal generates seven euros for the economy

in News, Business, Property · 09-06-2021 09:52:00 · 6 Comments

A study by the Portuguese Association of Resorts (APR) shows that for every euro that a foreigner invests in buying a house in Portugal, it generates around seven euros for the national economy five years later.

The most recent figures from the National Institute of Statistics (INE), from 2019, show that 3.4 billion euros were invested by foreigners in 19,520 homes in Portugal that year, and international investors bought 8.5% of all homes sold.

The study concludes that that amount will have a local impact of nearly 21 million euros by the end of 2023. It also found that French nationals buy the most properties in Portugal, while Chinese spend the most.

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Sorry, 3.4BN€ will generate how much? 21M€ or 21BN€?
Also, how did the study reach that conclusion? Are foreigner euros special? If foreigner investment is around 10%, will the other 90% generate the same return on investment?

By L.N. from Algarve on 11-06-2021 04:06

Your article should State 21 billion instead of 21 million

By Andrew Gentile from Madeira on 10-06-2021 12:12

What is this? Why Government is not focusing to make apartment home? We need house for rent and also for good environment! Here people are living in one room as equal a sheep in one canal.

By MOHAN Singh Gharti Magar from Alentejo on 09-06-2021 07:25

But Portuguese government doing nothing to protect these foreign investors. Its been 16 months i invested in portugal but SEF did not give me biometric appointment yet. Pathetic government processes.

By Irfan from Other on 09-06-2021 04:39

It's a shame the portugese people don't know this because I don't think they like the investers very much ... they only like us for our money if they can earn on it

By Trudy Raats from Other on 09-06-2021 04:22

The Chinese mafia have always been big spenders.

By greg from Other on 09-06-2021 11:36
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