According to the international consultant Athena Advisers, the medium and long term rental market in the premium residential segment in Lisbon has seen “very strong growth, driven by the demand of foreign families wishing to establish residence in Portugal”.
Athena Advisers' records found that over the last 15 months, 70 percent of the demand comes from foreign families who settle permanently in Portugal and 30 percent comes from digital nomads or expatriates for professional reasons who temporarily settle in Portugal. In terms of nationalities, the French lead the demand with 30 percent, followed by Americans and English with an equal percentage of 20 percent each, with the remaining 30 percent from other origins.
The motivations and profile of demand in each of these groups are very different according to the consultants. “Families want to know the dynamics of the city of Lisbon and the real estate market itself before investing in the purchase of a house, analysing the areas with the best offer of good international schools, services and facilities nearby. Nomads, on the other hand, are looking for temporary housing in an area that provides them with quality of life and a good balance between professional and social life”.
Marta Salgado, head of the Lease Department at Athena Advisers Portugal said: “For some years now, a growing number of people of foreign nationality have chosen Portugal, and in particular Lisbon, to live or work and the pandemic has further accentuated this trend due to the quality of life that our country offers.
“In this context, leasing appears as an excellent option, not only for digital nomads, but also for families who, coming from completely different cities and where the distances they cover in their daily lives are much greater, want to analyse the dynamics and style of city life, as well as getting to know the market in depth before moving on to buy a house.”