Of the total demand for a house to buy in the city of Funchal, 45.3% came from foreign citizens last year, according to idealista. The capital of Madeira is the one that, across the country, has the highest percentage of foreigners in the total demand in each city.
According to that portal, compared to the previous quarter, foreigners’ demand for homes for sale fell 1.2 percentage points nationally at the end of 2023, when the end of golden visas for real estate investment came into force. The biggest falls were recorded in Viseu, Coimbra and Viana do Castelo.
Still, at the end of 2023, there were four cities where at least three in 10 people looking for a home