Portugal is the new Miami for Brazilians

In a good economic moment, Portugal has attracted the attention of the international community, especially of the Brazilians. Far beyond a tourist or study destination, the country has become a magnet for investors and families who want to leave the country, and is already described as the new Miami for rich Brazilians.

Demand has increased especially in the last two years. The Portuguese real estate purchase and rental website Imovirtual.com registered 1.5 million visits in the first quarter of 2018, Brazil being the main country, with a 70% increase in demand, compared to last year. Brazilians are also the largest foreign buyers of houses and apartments in the country, surpassing France and China.

The reason for this demand has to do with the international attention that Portugal has awakened. The country registered a growth of 2.7% in the first quarter of last year, the highest in the last 17 years, according to the Portuguese National Statistics Institute (INE).

"Portugal has some interesting characteristics that are being discovered by foreigners, such as security, the pleasant climate, the economy. The cost of living is lower compared to a large Brazilian city, and the real estate is also cheaper," says Vasco Pereira Coutinho, CEO of Portuguese real estate company Lince Real Estate.

The Brazilian public has even caused changes in the Portuguese construction market, which has started to create projects more suited to Brazilian taste. "Most Brazilian families are looking for properties with suites for everyone, not only in the master bedroom. Here in Portugal it is not common to have a bathroom in every room, and that is already changing," Vasco says.

The presence of the maid's room, uncommon in Europe and falling into disuse even in Brazil, has also been recorded in high-standard developments.

Brazilians have mainly been searching for houses and apartments in valued areas, with good views and luxury structure. High-value properties also make it easier to stay in the country through the Golden Visa, or gold visa, a modality created in 2012 that offers residence permits for those who invest in the country. One of the options of the program in Portugal includes the acquisition of real estate starting at 500 thousand euros.

Popular cities

Cities like Cascais, Porto and Algarve are much sought after by Brazilians, who seek tranquility and quality of life. For Vasco, political instability in Brazil is currently one of the factors that encourage rich families to leave the country. "We see families tired of the insecurity, of the unstable political situation that Brazil is experiencing," he says.

Environmental lawyer Rejane Bastos bought an apartment in a luxury condominium on the outskirts of Lisbon, where she intends to move with her family and continue working with her Brazilian clients, remotely and with occasional trips. For her, the safety and education of her teenage children was a decisive factor, in addition to the cost of living and ease of adjustment in the country, of the same language.

"Portugal is very pleasant. The weather is great, the services are excellent, the people are polite and the cost of living is 30% lower than in Europe in general," says the lawyer. While the apartment is not ready, she's renting another in the same place. Her choice was the Belas Clube de Campo condominium.

About 50 Brazilian families currently live in the area, which is a kind of Portuguese Alphaville 15 minutes from Lisbon, with golf course, gymnasiums, service structure and forest preservation area. There you can buy a two bedroom apartment at prices around 500 thousand euros, with condominium fees of 170 to 250 euros. Rejane bought in the second phase of the project, called Lisbon Green Valley, which already has 70% of sales in Brazil. "Our Brazilian public already has its own fortune, and already has companies or work in Brazil, they want cultural attractions, beautiful views and quality services," says Gilberto Jordan, CEO of Belas Clube de Campo.

* Under the supervision of editor Cassandra Barteló.