THE NEW AMERICAN DREAM IS STILL MADE IN PORTUGAL

In January of this year, the content of one of our newsletters mentioned Portugal as an attractive country due to its different characteristics.

Curiosity or not, Portugal currently has over 60,000 expatriates who have decided to live in the country, 11% of which are American citizens. According to a study performed in 2021, from the 37 purchasing nationalities, the American client represented 7% of the global sales volume, confirming to be the third most influential nationality in the acquisition of property in Portugal. The areas from Oeiras to Cascais, located in the coast, were the most sought after by these citizens and represent the locations in which more deals were closed, with an average purchase value exceeding 1 million euros.

Coming from cities like Portland, Chicago, San Francisco and even New York, these people tend to live mainly in the more urban areas of Portugal. The accessibility of transport, the ease of doing business with English-speaking residents and opportunities for education, work and culture are the main reasons why Americans search for the towns around the larger Portuguese cities, adding to their preference the viability of being able to practise different sports there, from surfing to golf. Another of the priorities for those who come to the country is also the health system. Countries like the United States have an exclusively private health service with very high prices, making medical assistance very expensive.

Lisbon, one of the oldest cities in the world – over 3,000 years old, offers the perfect balance between modernity and tradition. In the greater Lisbon region, which follows the Tagus River and then the sea, you can find all the amenities you would expect from a capital city – museums, concert halls, restaurants, shopping and an international airport. And just a few kilometres away, you can experience a completely different lifestyle in Oeiras and Cascais, by the sea. And these regions are particularly attractive to Americans because of their city retreat atmosphere and the water sports offered all along the coast.

“We have loved Portugal since we first came here over 10 years ago. We have travelled from north to south on the Portuguese coast and met many different places. We are completely in love with the country, its people, food and lifestyle. My husband is an avid surfer, which is a big draw, and of course the climate is wonderful too. In terms of lifestyle, it’s somewhat similar to California“, says a New York family who came to Portugal and chose Oeiras to settle in. Both with important positions in multinationals and aged between 50-60, they chose an independent villa, so that their daughters can have their own space: “We really liked the elegance, the light and the configuration of our new house. The fact that it allows our daughters to have their own private ‘home’ worked out perfectly!”

Another determining factor is related to the existence of programs that favour investment in the Country, which end up being a strong attraction, in addition to the fact that Portugal persistently leads the ranking of the best places in the world to live. Besides the Lisbon area, there are still communities of American expatriates in the Algarve and in Oporto, and good prospects for growth in the number of US citizens coming to live in Portugal continue to open up.

The testimony of the Secretary of State for Portuguese Communities, Berta Nunes, highlighted the “willingness” of Americans and Portuguese-Americans to invest in Portugal, which opens the door to “many opportunities”. She also stressed the desire of the community of Portuguese origin, living in the United States where they have made a successful life and want to continue to invest or want to send their children here to study in Portugal. The investment in the direction of Portugal and the “many partnerships” already in place, give a strong presence to the Luso-American community, which continues to grow in this welcoming country.

The record of the History of humanity shows that Portuguese people have always lived with an unusual adaptability towards other people and cultures, explored by our navigator ancestors leading Portuguese people to be receptive to those who visit the country, often with the aim of starting new projects and new life chapters.  Even as mere advisers in the implementation of these projects, the ties for a future professional partnership and why not friendship are created and built. And this makes us feel very good!