The decline of luxury real estate in Portugal

&amp;NewLine;<p>The luxury real estate market in Portugal has been in steep decline since the end of the Golden Visa program, according to recent data published by idealista&amp;period; This trend is closely linked to a significant drop in foreign investor interest in acquiring high-end property in the country&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<h2 class&equals;"wp-block-heading">The decline of luxury real estate in Portugal following the end of Golden Visas<&sol;h2>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>In the first quarters of 2024&amp;comma; foreign demand fell by 5&amp;comma;8 percentage points compared with the same period in 2023&amp;comma; when the decision to end golden visas was announced by the previous Socialist government as part of the&amp;rsquo&amp;semi;More Housing&amp;period initiative;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>According to a press release accessed by Notícias ao Minuto&amp;comma; international demand fell even more sharply&amp;comma; reaching 6&amp;comma;3 percentage points at the beginning of 2024 compared to the end of the&amp;rsquo&amp;semi;year 2023&amp;period; This decrease can be explained by the&amp;rsquo&amp;semi;cessation of the&amp;rsquo&amp;semi;issuance of investment residence visas and the&amp;rsquo&amp;semi;announcement of the reform of the RNH regime from January 1, 2024&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<figure class&equals;"wp-block-image size-large"><img src&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;wp-content&sol;uploads&sol;2019&sol;04&sol;guide-immobilier-au-portugal-1024x683&period;jpg" alt&equals;"immobilier&comma; portugal&comma; golden visa&comma; alojamento local" class&equals;"wp-image-4474"&sol;><&sol;figure>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>The UK remains the main country of origin for foreign investors interested in luxury goods in Portugal&amp;comma; accounting for 11&amp;comma;9 &amp;percnt; of international demand at the start of&amp;rsquo&amp;semi;year 2024&amp;period; It is closely followed by the USA &amp;lpar;11&amp;comma;2 &amp;percnt;&amp;rpar;&amp;comma; l&amp;rsquo&amp;semi;Germany &amp;lpar;10&amp;comma;2 &amp;percnt;&amp;rpar;&amp;comma; l&amp;rsquo&amp;semi;Spain &amp;lpar;9&amp;comma;2 &amp;percnt;&amp;rpar; and France &amp;lpar;8&amp;comma;6 &amp;percnt;&amp;rpar;&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>This downward trend reflects a major change in the Portuguese landscape&amp;comma; with a decline in foreign investor interest&amp;comma; particularly from major European and North American markets&amp;period; The end of golden visas has had a significant impact on the market&amp;comma; prompting players to review their strategies to attract new buyers and investors&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>In this context, it is crucial for <a href&equals;"https&colon;&sol;&sol;agencelusofrancaiseimmobilier&period;com&sol;">real estate professionals<&sol;a> implement innovative initiatives and targeted marketing strategies to rekindle foreign investors' interest in the Portuguese luxury market&amp;period; Today's challenges call for rapid adaptation and a thorough understanding of market trends to maintain competitiveness and stimulate the sector's growth in the country&amp;period;<&sol;p>&amp;NewLine;&amp;NewLine;&amp;NewLine;&amp;NewLine;<p>The end of <a href&equals;"https&colon;&sol;&sol;vivreauportugalconsulting&period;com&sol;fin-golden-visa-portugal-2023&sol;" data-type&equals;"post" data-id&equals;"9299">golden visa<&sol;a> has led to a significant decline in foreign demand for luxury goods in Portugal&amp;period; However&amp;comma; with a strategic approach and adaptation to new market realities&amp;comma; it is possible to stimulate renewed interest from international investors and boost the country's luxury goods sector&amp;period;<&sol;p>&amp;NewLine;