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British lead real estate deals despite Brexit

British nationals continued to lead foreign property investment in Portugal in 2016 despite concerns that Brexit would stem interest in purchasing real estate.

New figures from SIR-Turismo Residencial show Britons were responsible for almost a third of all transactions in Portugal.
According to Confidencial Imobiliário, which manages SIR-Turismo Residencial, the area between Albufeira and Loulé was the most popular, with British buyers being responsible for almost half of all property deals in that area.
Chinese investors also made their presence felt in this sought-after part of the Algarve, with 13 percent of all international deals.
Overall, Britons accounted for 31 percent of all real estate purchases involving foreigners.
On a national level, French buyers were the second biggest foreign investors with just under a fifth of all property
According to researchers, the number of transactions by British nationals actually rose during the second half of 2016, but said that the weaker pound, a result of Brexit, did see a drop in the amount spent by British investors.

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