The analysis indicates that while Brazil remains one of the most significant overseas markets for Portuguese real estate, its share of international demand has fallen notably over the past year.

International searches

In 2025, Brazilian users accounted for 14.4 percent of all international searches for property in Portugal, with the figure declining to 11.2 percent in 2026, representing a drop of 3.2 percentage points – the largest decrease recorded among the principal foreign markets examined.

Despite the slowdown, Brazil continues to rank among the top three international sources of demand. However, it has slipped to third place after being overtaken by Switzerland, whose share increased from 15.8 percent to 18.8 percent, while France has further strengthened its position as the leading international market, rising from 18.9 percent to 20.7 percent.

Although Brazilian interest has cooled, the country remains by far the most important non-European market for Portuguese property, with demand standing at 11.2 percent, almost three times higher than that of the United States, which accounts for 3.7 percent of international searches, remaining ahead of Angola 2.8 percent and Canada at 1.6 percent.

According to Sylvia Bozzo, Marketing Manager at imovirtual, the figures reflect a moderation in demand rather than a fundamental change in Brazil’s importance to the Portuguese property sector.

“The data points to a slowdown in Brazilian demand, which is consistent with trends observed in recent months”, she said. “However, this decline does not diminish Brazil’s significance within the Portuguese real estate market.”

“Brazil remains one of the three most active international markets and continues to maintain a particularly strong connection with Portugal, even as growing interest from European buyers makes the international landscape increasingly competitive”, she added.

Property acquisition

The report also highlights a shift in the type of property sought by overseas buyers, while demand is becoming increasingly focused on purchases rather than rentals.

In 2026, nearly three-quarters (72.6 percent) of international property searches were linked to buying intentions, up from 68.4 percent the previous year. Meanwhile, rental-related searches fell from 31.6 percent in 2025 to 27.4 percent this year.

This trend suggests that foreign interest in Portugal remains firmly centred on property acquisition, whether for permanent relocation, second homes or long-term investment opportunities.