Portugal has summed up the inflow of foreign direct investment for the first half of 2026. The overall figure improved, but investment in real estate decreased.
Pedro Barata, head of the Portuguese office at Immigrant Invest, analysed the new data.
Direct investment is back in positive territory
Portugal attracted almost €7 billion in foreign direct investment from January to June 2026. Within the same period of 2025, the figure was −€0.2 billion, meaning that at that time, investors withdrew about €200 million more from the country than they invested[1]Source: Banco de Portugal, Foreign Direct Investment.
Investors put €6 billion into Portuguese companies. Another €1.7 billion was invested in real estate. A year earlier, investors put €1.9 billion into real estate; therefore, the investment volume decreased by €200 million, or about 11%.
Investment activity has increased across Portugal’s regions. From 2017 to 2023, foreign direct investment grew the most:
- in the Central Region, by 86.5%;
- Alentejo, by 78.6%;
- Algarve, by 68.4%.
At the same time, the main destinations remain Lisbon, Porto, and the Algarve. They account for more than 80% of all foreign direct investment.
By the end of June 2026, the accumulated volume of foreign direct investment in Portugal reached €225.1 billion. This corresponds to 71% of the country’s GDP.
Why real estate investment decreased
Real estate investment may have decreased for several reasons:
- real estate is expensive;
- luxury homes in Lisbon and the Algarve bring investors lower returns;
- or due to the unstable global situation, investors are acting more cautiously.
Despite the decrease, real estate accounted for 46% of all foreign direct investment in Portugal in 2025[2]Source: Decrease in real estate investment growth in Portugal, according to Idealista.
Geography of investors
The growth of foreign investment in Portugal was mainly driven by European investors. Banco de Portugal indicates the country from which the money came directly. But it does not always match the country of the actual owner: investments may pass through other states.
In the first half of 2026, investment from three countries changed the most:
- from France, it grew by €7 billion;
- Spain, by €1.9 billion;
- Luxembourg, it decreased by €4.6 billion.
The decrease in investment from Luxembourg reduced the overall result. But the growth of investment from France and Spain was higher.
How to obtain a residence permit in Portugal by investment
Foreigners can obtain a residence permit in Portugal by investment and choose one of 5 available investment options depending on their goals and budget:
- €250,000+ — investment in or support for artistic production, restoration, or preservation of national cultural heritage.
- €500,000+ — purchase of units in non-immigration collective investment funds established under Portuguese law.
- €500,000+ — investment in research activities of scientific institutions.
- €500,000+ — creation or capitalisation of a company in Portugal, subject to job creation requirements.
- Creation of at least 10 jobs with no minimum investment requirement.
The Portugal Golden Visa allows investors to obtain a residence permit in the European Union without moving to Portugal permanently. To maintain the status, an investor only needs to spend at least 7 days in the country in the first year and at least 14 days in each subsequent 2-year period.
Immigrant Invest lawyers help choose an investment option, check a fund or project, prepare documents, and submit a residence permit application.
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