From Lisbon to Lake Como, the Dordogne to Deia, Americans are on the hunt for a European base.
A combination of push and pull factors are seeing buyers from the United States hunting for homes in especially France, Portugal, Italy and Spain as they take advantage of the strong US dollar to sterling rate – making properties more affordable – and also remote working patterns.
A global citizenship company reported that since Donald Trump’s re-election, Europe is the most sought-after destination by US nationals looking to move abroad. In the week after the election, inquiries for golden visas increased by almost 400% compared to the week before. These visas – still existing in some form in Portugal, Greece, Cyprus, Italy and Malta, whilst Spain is ending theirs in April 2025 – offer residency permits on the back from investment into a country.
But the increase in Americans – not all of them HNWIs - is also attributable to an increasing number of direct flights from the US to key European airports.
From May 2025 United Airlines will be flying direct from New York to Faro airport on the Algarve, but also Madeira, Bilbao in northern Spain and Palermo in Sicily. New flights from Washington will go to Nice – our Best Places to Buy Abroad 2025 most searched-for spot in France as well as Venice.
Last year, new flights included those between San Francisco and Barcelona, and the now-popular routes between New York and Malaga, and New York and Palma de Mallorca. These have already had an impact on the property markets of these locations. Record levels are being seen in Spain. In 2020 the number of properties bought by US and Mexican citizens was 620, while in 2024 it rose to 2,199, according to data from the Registrars.
In Madrid – where flights from the USA have also increased - the business schools and quality of life are especially appealing and many Latin Americans are heading there instead of Miami; whilst Barcelona and Valencia city are also popular.
Portugal has also seen record levels of tourism from North Americans, who love the laid-back lifestyle, security and stable politics. The Portuguese Property Association has reported that 10% of all foreign buyers in the country are American. The Algarve, Lisbon and Porto are popular, according to Dylan Herholdt of Portugal Realty on the Silver Coast.
In France, the popularity of TV programmes such as Emily in Paris has helped American buyers flood to the French capital, the Alps, Cote d’Azur and to the many chateaux dotted across rural France. The agent Leggett Immobilier saw a ‘huge increase’ last year, and that American buyers now account for over 3% of all overseas buyers of French property.
North Americans are the fourth most active nationality (after the French, British and Dutch) for the agent, which they attribute to the quality of life, value for money of French property and the strength of the dollar compared to the euro.
Americans, as third-party nationals like the British, also need to get a visa if they wish to move to a country in the European Union. Most are cash buyers as getting a mortgage in France is not easy at the time of writing, but the US-France tax treaty means most Americans in France are exempt from double taxation.
Aside from golden visas there are other types of visa for each country – the D7 is the most popular for Portugal, according to English-speaking Portuguese lawyer Paula Meireles based in the Algarve, who helps buyers and those hoping to relocate.
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