According to Athena Advisors, when it comes to Californians looking to move to another country, then Portugal is at the top of the list, not least because of the very favourable quality to cost ratio.

Property investment specialists, Athena Advisers recently held roadshows in the State of California, with stops in San Diego, Los Angeles and San Francisco. In addition to a sale that closed during the presentation, Athena Advisers has stated that they are now accompanying approximately two dozen potential buyers who have expressed an interest in investing Portugal with the company predicting that by the end of this year, at least half of them will make investments with budgets reaching up to €3.5 million.

“We were very well received in all the cities we visited and we noticed that there is more and more interest in our country. The attractiveness of Portugal for North Americans is no longer new, but if about three years ago, one in 10 customers were North American, today it is more like six out of 10 come from across the Atlantic", said David Moura-George , general manager of Athena Advisers in Portugal.

“Most of the demand comes from Californians, due to the strong affinity they feel with our country, and hence the focus on this region for the Athena Advisers roadshow.”

Most sought after destinations

Cascais and Oeiras, in Greater Lisbon, or alternatively, the Azores and Costa Vicentina – where it is still possible to benefit from the golden visa programme - are, according to the company, the most sought after as they are close to the sea and the beach, which makes it possible for them to maintain a lifestyle very similar to the one they had in California.

“Usually clients are people who live analternative lifestyle and already used to living outside large urban centres. Most of them are young couples, who are very connected to technology, but we also have a lot of retired clients”, said David Moura-George.

“The freedom and flexibility made possible through remote working is yet another incentive in the relocation of North Americans who are looking for the excellent living conditions that Portugal offers, and the image that the country has built in the area of ​​entrepreneurship and technological innovation is a strong attraction for startups and entrepreneurs in this area”.

According to date from the Foreigners and Borders Service (SEF), in the first quarter of this year, North Americans began to lead the ranking of investment through golden visas in country. With a total of €25.1 million, the volume invested in the purchase of real estate in the first three months of the year more than tripled compared to the same period in 2021.