In 2026, external demand for housing in Portugal remains resilient, even despite the more moderate pace of the market itself. According to The Portugal News, foreign searches account for 13% of total housing demand in Lisbon. Among international buyers, U.S. citizens lead the way, representing 14% of foreign interest. They are followed by Spain and France.

📊 These figures are especially notable against the backdrop of an overall decline in transactions. In 2025, Portugal recorded 13.3% fewer completed home sales. The market has become more cautious, but foreign interest has not disappeared.

📍 At the same time, Lisbon is no longer the only center of external demand. In several cities, the share of foreign searches is even higher:

— in Funchal, it reaches 30%;
— in Ponta Delgada, 27%;
— in Faro, Bragança, and Castelo Branco, around 20%.

🌍 In terms of international demand, the United States and the United Kingdom stand out most clearly in 2026. American buyers lead housing searches in several major Portuguese cities, including Braga, Coimbra, and Évora. British buyers maintain strong positions in more traditional foreign-buyer destinations such as Faro, Setúbal, and Beja.

💼 As a result, international demand in Portugal remains strong even after the winding down of the Golden Visa program for real estate. However, the capital is no longer the country’s only focal point and is now competing with other Portuguese regions for foreign demand.

🔎 You can explore property in Lisbon and other regions of Portugal for investment or living on our website.