In recent months, residents of the United States have shown a heightened perception of uncertainty, linked to recent changes in the country’s economic, immigration, and international policies. This environment has prompted some of the wealthiest Americans to explore options abroad, both for residence and investment. In this context, Portugal stands out as an attractive destination.

Recent data from idealista indicate that demand for luxury homes in Portugal from U.S. residents remains strong, despite the reduction of fiscal incentives for real estate investment. This trend reflects broader institutional and economic adjustments in the United States, encouraging families and investors to consider markets perceived as more stable, secure, and predictable.

According to idealista/data, U.S. residents continue to actively seek premium properties in Portugal, defined as homes valued over one million euros. In the last quarter of 2025, Americans accounted for 12% of international demand in this segment, making them the second most active nationality after the United Kingdom, which accounted for 13%. This interest persists even after the termination of the Golden Visa program for real estate investment at the end of 2023.

Top Areas Sought by U.S. Buyers

Lisbon stands out as the district attracting the most interest, accounting for 46.5% of luxury property visits from the U.S., followed by Faro (16.1%) and Porto (9.4%). Together, these three districts represent 72% of American demand for premium properties in Portugal.
Madeira accounts for 6.1% of visits, followed by Setúbal (5.6%), São Miguel (3.9%), and Leiria (3%). Braga, Viana do Castelo, and Aveiro also register over 1% of U.S. interest, though with a more moderate weight.

U.S. Demand in the Azores

In the Azores, U.S. buyers represent a particularly significant share of the international luxury market. On Faial, Americans account for 39.1% of foreign visits to premium properties, and on Terceira, 36.1%.

On São Miguel and São Jorge, more than 30% of international demand for high-end homes originates from the U.S., with similarly high percentages observed on Santa Maria (29.6%), Pico (26.1%), and Flores (23.1%).

On the mainland, U.S. buyers also play an important role in the premium property market, particularly in Leiria (16.8%), Lisbon (15.8%), Coimbra (15.5%), and Porto (14.3%).

By contrast, U.S. demand has a smaller impact on Porto Santo (5.9%), Faro (7%), and Portalegre (7.2%), according to the same data.

Text Adapted from Idealista