Not a lot of real clear data on this so it's always up for debate.
I can't speak for the situation in Portugal as I don't live there. Maybe they have heaps of data, but when British Columbia was wrestling with a feeling that foreign buying was impacting the market, they literally were not collecting any data and so had nothing beyond vibes and anecdotes to go on.
The impact of foreign buyers was seemingly enough though for a major developer in Vancouver, Westbank, to start opening up sales offices in major Asian cities and was explicitly citing its condos as being ideal as pied-à-terres in their marketing materials. With that in mind, if entire major developers are shifting their entire business model, I have to imagine that the foreign buyer market was real and substantial.
I can't speak for the situation in Portugal as I don't live there. Maybe they have heaps of data, but when British Columbia was wrestling with a feeling that foreign buying was impacting the market, they literally were not collecting any data and so had nothing beyond vibes and anecdotes to go on.
The impact of foreign buyers was seemingly enough though for a major developer in Vancouver, Westbank, to start opening up sales offices in major Asian cities and was explicitly citing its condos as being ideal as pied-à-terres in their marketing materials. With that in mind, if entire major developers are shifting their entire business model, I have to imagine that the foreign buyer market was real and substantial.