Americans love Portugal
According to an article recently published by Forbes “Sunshine and good social life are among Portugal’s main attractions. Ease in making local friends and having an enjoyable social life, a rich history, diversity of culture and people, modern public transportation, a good healthcare system and low crime rates are also reasons for Portugal to lead many expats lists. Portugal is one of the easiest countries in Europe to move to thanks to varied visa options including golden and entrepreneur visa programs”.
In the past few years, Portugal appears at the top of most lists of places recommended for expats and retired people that want to enjoy a good life, and the Portugal Golden Visa program is one of the most popular in the world. The number of Americans living in the country rose 45% in 2021 from the previous year, according to SEF – The Portuguese Immigration and Border Service. By the end of 2020, there were 9.621 American citizens in Portugal.
Out of a total of 649 successful Golden Visa applications in the first half of 2022, 124 applicants (19%) were United States citizens. However, most Americans came to Portugal under the D7 Visa, which implies, among other things, being tax residents in the country, having a house to live in, staying at least six months in the country and earning an income equal to or higher than the national minimum wage (€705/month).
According to expats interviewed for an article by Visão, the reasons “why Americans are leaving their country are the political polarisation, the growing feeling of insecurity and the rising cost of living. In Portugal, it is inexpensive to buy a family home. Daily expenses and schools are also much more affordable in Portugal. Access to quality health care, at much more affordable prices than in the USA, is one of the determining factors”.
The same article presented a chart comparing the average cost of living in Lisbon and San Francisco, based on data released by NUMBEO.
A vast majority of Americans looking to relocate to Portugal are looking for a slower pace of life, a greater connection with the local community and the lower cost of living offered by the sunniest country in Europe. Many of them are retired or work remotely, have more purchasing power and are seeking a greater quality of life without the high costs.
In another article, Forbes wrote that “according to Nasdaq the average property cost in the United States, is $428,700, although prices vary wildly from city to city and state to state: the property average price in Hawaii is over $1 million, while in West Virginia that figure drops to below $150,000. The average property cost in Portugal is around $365,000 as of the third quarter of last year and, in some parts of the country, one can find properties for less than $125,000”.
Expat Insider surveyed that expats feel at home in Portugal and find the country “easy and safe to get around on foot and/or by bicycle”, and also that they “feel that they can openly express themselves and their opinions”, and when asked “what they like most about life in Portugal, they mention the good environment, the mild climate and peaceful life”.
