Portugal Sotheby’s International Realty has released its “2025 Mid-Year Luxury Outlook” report, which highlights the luxury real estate market as a “safe haven” in times of economic uncertainty.

The report reveals that, despite market volatility, high-net-worth households—especially from the United States—continue to be the main players in this sector.

Between January and May 2025, Portugal Sotheby’s recorded a 34% increase in the number of transactions compared to the same period the previous year, along with a 40% rise in turnover. Portuguese buyers accounted for 50% of the transactions, followed by investors from the United Kingdom (11%), the United States (9%), and Brazil (6%).

The main regions that continue to attract buyers include Lisbon, Cascais, Estoril, Oeiras, Porto, the Algarve, and Madeira. Porto, for example, has seen growing interest from French, American, and Brazilian buyers, who often start with smaller apartments and later move on to invest in higher-value properties. In the Algarve, a new direct flight route to the United States is further boosting interest in the market.

Madeira is also gaining attention, especially among families from the U.S. and Northern Europe who are seeking safety and a mild climate. In Lisbon, demand remains high for properties with outdoor spaces and central locations.

Miguel Poisson, CEO of Portugal Sotheby’s International Realty, emphasizes that international investor confidence, combined with steady demand from domestic clients, is driving the market—resulting in both an increase in the number of transactions and in the average property value.

The report is based on data and insights from various Sotheby’s International Realty branches and leading companies in the sector, underscoring the maturity of Portugal’s luxury real estate market.