Opinion

Why Portugal is the new American dream?

09/25/2024

Why Portugal is the new American dream?

Anne Brightman

Brightman Group

A friend of an American client was diagnosed with Multiple Sclerosis (MS) a year and a half ago. MS is an autoimmune disease that affects the central nervous system, including the brain and spinal cord, leading to overwhelming fatigue, weakness, vision problems, involuntary muscle spasms, memory loss, bladder and bowel dysfunction, and serious depression.

This woman is married to an NFL franchise owner and has the best medical insurance money can buy in the U.S., so why is she flying to Portugal for medical treatment?

Florida boasts good weather, no state income tax, beautiful beaches, and is a retirement haven. It also offers good schools for families with school-age children, a strong economy with job opportunities, and serves as an international entertainment capital with theme parks and countless golf courses. So why are so many Floridians choosing to move to Portugal?

California is one of the most popular and iconic states in the U.S., and according to data from the U.S. Bureau of Economic Analysis, if California were a country, it would rank as the fifth or sixth largest economy globally. So why is California the #1 state for Americans leaving the U.S. and relocating to Portugal? As an American living in Portugal and dealing daily with Americans relocating here, I’m well-equipped to answer these questions.

There is a segment of the American population that has become disillusioned with the system. Clients are relocating to raise families, retire, buy second homes, or work digitally from abroad. The allure of Portugal’s unique combination of lifestyle benefits continues to resonate with Americans seeking a fresh start.

Poor healthcare, school shooting drills, general safety concerns, political polarization, the rising cost of living, and nonsensical state taxes are common reasons cited by Americans for moving.

Attracted by high-quality, low-cost private healthcare, a safe environment, good international schools, favourable weather, a relatively low cost of living, a friendly English-speaking population, and favourable visa programs like the D7 Visa for retirees and remote workers, Americans are now among the top groups of immigrants moving to Portugal. Even with drastic changes to the Portuguese Golden Visa program, which grants 10 years of tax benefits, the influx of Americans buying property hasn’t slowed.

Lisbon has evolved into a mature market and can now compete pricewise with other European capitals that were previously more expensive. Prices are still rising, albeit at a lower rate than in previous years. With inventory shortages and rising prices showing no signs of slowing down as immigration trends continue to rise, now is an ideal time to invest in property.

Artigo original publicado na Revista Iberian Property