29/05/2026
🏡 What if Portugal adopted a measure similar to New York’s?
New York has approved an additional tax on luxury second homes owned by non-residents, applicable only to high-value properties (above USD 5 million).
More than a tax measure, it is a strategy to generate public revenue without directly penalising those seeking to purchase their first home.
What if Portugal were to explore a similar model?
First and foremost, let me make one thing absolutely clear:
❌ I do not support closing the door to foreign investment.
🙋♀️ Quite the opposite.
Those who choose Portugal to invest, acquire property, rehabilitate buildings, establish businesses or develop real estate projects contribute significantly to our national economy. They create jobs, stimulate the construction sector, increase tax revenues and support GDP growth.
Foreign investors are not only welcome — they will always find in me a dedicated professional committed to providing guidance, expertise and local insight throughout their investment journey.
However, it may be worth discussing whether certain ultra-prime properties acquired exclusively as second or third homes, without effective tax residency in Portugal, could contribute slightly more to the collective effort.
If that revenue were directed towards:
✔️ reducing taxes associated with primary residences;
✔️ supporting younger homebuyers;
✔️ encouraging urban regeneration projects;
✔️ improving access to housing for Portuguese families;
we could be looking at a solution that seeks to balance international investment with national interests.
As an Architect and Real Estate Consultant, I believe the best public policies are those capable of reconciling economic growth with social sustainability.
We need investment.
We need capital.
We need urban regeneration.
But we must also ensure that Portuguese citizens can continue to live, buy and build their future in their own country.
The municipalities of Lisbon and Porto naturally remain among the most attractive destinations for international investors, particularly within the urban rehabilitation, house-flipping and premium heritage property sectors.
Perhaps the time has come to discuss innovative models capable of transforming international interest into an even greater advantage for everyone.
Economic development and housing accessibility do not need to stand on opposite sides of the same equation.
✍️ What is your view?
👇 Do you believe Portugal should consider a measure similar to New York’s for luxury properties owned by non-residents?
Ana de Frias
Architect & Real Estate Consultant
📱 +351 916 304 199
📧 [email protected]
Zome Maia
Triplempathy, Lda – AMI 19283