The European Lifestyle report underscores a marked shift in global wealth migration, as tax reforms, rising geopolitical uncertainty and changes to visa policies drive affluent individuals towards Europe. The continent’s political stability, quality of life and strong governance are cited as major draws — with Lisbon emerging as the clear frontrunner.
Trailing the Portuguese capital are London, Madrid, Dublin and Barcelona as the most sought-after cities. Outside urban centres, Chamonix claims the top spot, while Portugal’s Algarve region ranks an impressive fourth.
Generational preferences differ, with Gen Z and Over-65s most drawn to Lisbon. The Portuguese capital continues to appeal particularly to luxury real estate buyers from Brazil, the UK and the US.
When considering relocation, HNWIs place the highest importance on healthcare, international education and transport connectivity.
Their motivations are largely tied to business prospects, financial and political stability, and lifestyle quality. Interestingly, taxation has become less influential in 2024, ranking below concerns such as personal security, privacy and employment opportunities.
The research also indicates a growing appetite for houses rather than apartments, reflecting shifting trends following the post-pandemic boom in resort and countryside properties.
Commenting on the findings, Paul Stannard, Chairman and Founder of Portugal Pathways and the Portugal Investment Owners Club, said:
“Lisbon’s continued rise in popularity among international investors reflects Portugal’s unique balance of lifestyle, opportunity and stability. The city has become a global benchmark for quality of life, safety, and world-class healthcare.
“Portugal’s Golden Visa residency-by-investment programme continues to attract HNWIs to invest in the country and receive benefits such as freedom of movement across the 29 EU Schengen region countries, the ability to include your eligible family members under a single application, and a minimum stay requirement of just 7 days per year.”
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
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