Number of millionaires in Portugal will increase 49% by 2024

  • Home >
  • News >
  • Number of millionaires in Portugal will increase 49% by 2024

Number of millionaires in Portugal will increase 49% by 2024
Reading time: 3 minutes
Published: 31st December 2019, 11:25am

As reported by the Credit Suisse Research Institute, the number of millionaires living in Portugal will rise from the current 117.000 to 174.000 by 2024. These are people with more than one million dollars of wealth, which corresponds to about 900.0000€ coming into the country.

The expected growth, which is 49% (equivalent to an additional 57.000 millionaires) pushes Portugal to the top of countries with the highest relative growth rate, only surpassed by Poland (74%), Japan (71%), and China (55 %), making it number two for the world’s most affluent travelers.


According to the Global Wealth Report, the strong appreciation of real estate assets, including houses, explains part of the growth of millionaires in Portugal. The real estate market has appreciated practically worldwide, and Portugal, along with Colombia, Hungary and the Philippines, is in the group that has recorded “robust” growth, between 10% and 13%.

“Currently famous for the Algarve and golf, travelers are starting to wake up to how much more the country has to offer.” - said Tom Barber, co-founder of Original Travel.

Globally, and according to the same report, wealth grew 2.6% in 2018 to $360 billion. The United States of America (US), China and Europe contributed most for the global wealth.

Source: travelpulse.com

Number of millionaires in Portugal will increase 49% by 2024

About Portugal Homes

PortugalHomes.com specializes in investments through Real Estate and Golden Visa. We help buyers find the right property overseas, whether it be for Golden VisaNHR, Investment or simply a place in the sun. Our properties are selected with great thought in mind to give our clients the best opportunities. We offer the complete service from introducing them to the Legal RepresentativesCurrency ExchangeMortgage AdvisorsProperty ManagementRental and Furniture Packages along with making sure all our staff are trained to fully understand the buying process and taxes for every scenario. Portugal Homes provides the complete service to anyone looking to buy a new or resale property overseas for holiday use or as a short or long-term investment.

To find out more, please contact us:
  • Phone: +351 213 471 603
  • E-Mail: info@portugalhomes.com
10th January 2020
Besides being one of the most coveted cities for real estate investment,…
8th January 2020
Ice-cream coloured buildings, cobbled streets and beautiful beaches, Lisbon…

Buying Property in Portugal

Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.

Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!

To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.

My property advisor, Mathew McGurn, was truly excellent! His knowledge, professionalism and attention to details was much appreciated. He worked hard to not only find a property that fit all my requirements, he negotiated successfully with agents making sure my offer won over other buyers bidding for the same property. In addition, his communication skills, prompt response time and general help with my getting settled in Portugal went above and beyond the normal.

Investor from the USA

Dear Sérgio, thank you so much for arranging our 1º Esquerdo place. We love our place, and your attention to detail is very much appreciated. 

Tim Thronson - Investor from the USA

A full service, one stop opportunity. Very easy for us a foreigners. Ryan Dunn went above and beyond for us. We appreciate him and his work!

Jose Arias - Investor from the USA

Everyone I met with and spoke with has been extremely knowledgeable and professional. Dealing with native English speakers who understand things from my perspective was very reassuring. Finally, knowing that I had Matthew in my corner gave me the confidence to proceed with the process of buying an apartment in Lisbon. Thanks very much.

Investor from the USA

So far it has been great. Simon is very knowledgeable and friendly.

Loay El Abiad - Investor from Saudi Arabia

It's fantastic how Ryan had complete knowledge regarding Lisbon and dealt with us in a great manner.

Akbar Ali - Investor from Pakistan