Porto, the Trending Spot for Americans

Porto, Portugal’s second-largest city, has quickly become a top travel destination for Americans, with many even going one step further and relocating to this charming northern city.

Alongside Lisbon and the Algarve, Porto is one of the top locations for Americans to relocate to and snap up properties. Renowned for its rich cultural heritage, business opportunities, famous Port wine, and high quality of life, Porto provides a unique blend of tradition and modernity that has become highly sought after by American nationals.

Why have Americans got their sights set on Porto?

There are a multitude of reasons why Americans are heading to Porto’s second-largest city. From its charming medieval streets to its bustling waterfront, Porto offers an array of attractions that cater to a wide range of interests. As more Americans seek unique and enriching experiences abroad, Porto’s blend of old-world charm and contemporary vibrancy makes it an irresistible choice to relocate to.

American retirees, young professionals, families, and investors are each looking to Porto to capitalize on the opportunities the cities offer. From its relaxed lifestyle, top quality education options, and booming tech scene, alongside top gastronomy and affordability. English is also widely spoken in Porto, making the transition to life in Portugal much easier.

Below are some of the top reasons why Porto is a trending spot for Americans right now.

Booming real estate market

Particularly over the past five years or so, Porto has cemented itself as a key player in the real estate sphere. Porto registered 5.9 million overnight stays in 2023.

Alongside this, the city has become a hub for digital nomads, students, and tech firms, opening the door for long term rentals as a lucrative investment.

Rental yields in the Porto Metropolitan Area average at 6 percent, highlighting the profitability of investing in the real estate market here. Property prices are also significantly lower than in Lisbon, with prices in the Porto Metropolitan Area standing at €3,291, while in the Lisbon Metropolitan Area, they stand at €4,061.

Porto’s appealing luxury market

According to Knight Frank’s The Wealth Report 2023, Porto, alongside the Algarve, was identified as one of the top ten luxury real estate markets in the world. With stunning properties, such as the spacious waterfront villas that you will come across at Foz do Douro and the modern apartments that you will find in the historic center, that still retain their traditional architecture.

Business opportunities

Porto and northwest Portugal have a GDP of €88.2 billion, and a staggering 47 percent of Portuguese exports are supplied by the region, alongside 40 percent of the country’s total workforce.

Porto is home to companies such as FedEx, BNP Paribas, Euronext, and Natixis, with more and more international companies, SMEs, and startups taking innovation to the next level in the city, transforming Porto into one of Europe’s leading startup hubs. The city has more than 550 startups having set up shop in Porto, and more than ten unicorns, which include Revolut and Farfetch.

There are an array of co-working and co-living spaces that have popped up in Porto over the past few years, making Porto the perfect base for startups, self-employed professionals and remote workers.

Excellent education

There are four excellent international schools in Porto, CLIP Oporto International School, Oporto British School, Lycée Français International de Porto – LFIP, and the Deutsche Schule zu Porto, offering an array of languages and curricula. Locations such as Foz do Douro and Vila Nova de Gaia, the city mirroring Porto on the opposite bank of the Douro River, provide spacious properties with all the amenities you need, plus easy access to some of the best beaches in northern Portugal.

Quality of life

The standout reason why many Americans have turned their gaze towards Porto is the high quality of life that the city offers. With excellent healthcare, accessibility, and transport links, living in Porto ensures a high standard of life. Porto Airport allows international travelers the ability to jet-set across Europe and further afield easily, whether it’s for pleasure or business.

Particularly for Americans, you will find that healthcare is very affordable compared with the prices that you would be accustomed to back in the States. You can have access to English-speaking private healthcare at a fraction of the cost.

The cost of living is also relatively low compared to other Western European cities, allowing your money to go further. The incredible gastronomy, festivals – such as the Festival of São João that lights up the city in the summer, and the welcoming locals add to the city’s allure.

While the Algarve tends to steal the limelight when it comes to spectacular beaches, you will also find some incredible beaches close to Porto, such as Praia de Espinho and Praia do Carneiro.

Safety

Portugal has recently been named as the seventh safest country in the world, according to the 2024 Global Peace Index, highlighting the country to have very low crime rates and safety levels. Alongside progressive legislation and an array of residency visa options on the table, you can easily see why Porto, and Portugal in general are attractive for Americans looking to relocate overseas.

Porto: America's New Favorite Destination

Porto has managed to attract a whole spectrum of American nationals looking for a peaceful, safe location to settle down. Whether it’s for retirement, to establish a base for your family, or to make the most of the city’s business opportunities, the city has become a hub for American nationals, and this trend shows no sign of slowing down. Boasting a high quality of life, lucrative property options, and ample business opportunities, it looks set that Porto will continue to be one of the trending locations in Portugal.