Learn what you need to know about real estate in Portugal, from renting to buying. Hear from real estate experts who have successfully invested in Portuguese property.
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- Portugal’s real estate market has experienced significant steady growth and has become an attractive and profitable investment option in recent years. Factors such as a stable economy, affordable prices, and a high quality of life have contributed to its appeal among both domestic and foreign buyers.
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Apr 5, 2024 · The complete guide for buying a house in Portugal as a foreigner, including costs, pitfalls, and an in-depth analysis of Portugal's house-buying process.
- Cascais. 30km west of Lisbon – 40 minutes by car, or an hour by train. What’s great about it? Cascais offers the best of both worlds: beach resort life, but just a short commute to Portugal’s vibrant capital.
- Guimaraes. Northern Portugal, about 50 kilometres north of Porto and 50 from the sea. What’s great about it? It’s a medieval university town about the size of Oxford, with a castle at the top of the hill and a beautiful main square full of interesting shops and excellent restaurants.
- Figueira da Foz. Along Portugal’s beautiful Silver Coast, around 140km (90 minutes) from Porto and 200km (two hours) from Lisbon. What’s great about it?
- Évora. Roughly parallel with Lisbon, Évora is about 90 minutes from Portugal’s capital by road or train. It’s the capital of the country’s Alentejo region.
- What’s The Property Market Like in Portugal?³
- How Easy Is It to Buy Property in Portugal as A Foreigner?⁴
- How Much Does It Cost to Buy Property in Portugal?
- How Can I Find A Property in Portugal?
- Buying Property in Portugal - Pitfalls to Avoid
- How Do I Choose The Right Property?
- What Are The Steps to Buying A Property in Portugal as A foreigner?
- What Are The Legal Requirements to Buying A Property in Portugal?
- How Do I Get A Bank Loan/Mortgage in Portugal?
- How Do Deposits and Down Payments Work?
Portugal’s housing market has, like other nations worldwide, been affected by the COVID-19 health crisis. Before the pandemic, house prices were steadily climbing - with prices in Lisbon, Porto and the Algarve seeing the biggest increase. In fact, property prices in the Algarve shot up by 50% between 2016 and 2020. The property market in Portugal h...
There are no special requirements nor paperwork for foreigners wishing to buy property in Portugal, so you shouldn’t have any issues. You must have a fiscal number (Numero de Contribuinte) to purchase a property in Portugal. You can get this through the local tax office or it's issued when you open a local bank account.
If you’re thinking of buying a property in Portugal, the price you pay will be influenced significantly by where you want to live. The capital and the Algarve coastal areas are the most popular places for expats looking to settle in Portugal. To give you an idea of property prices in Portugal, let’s take a look at costs per square metre to buy an a...
Property agencies and agents
There are several avenues you can take to find a property in Portugal: 1. Through an estate agent (imobiliaria) - all agents should display a license number (Associacao de Mediadores Imobiliarios) 2. Through an online portal which puts sellers in touch with buyers directly 3. Through word of mouth. An estate agent, if used, generally works on behalf of the seller. The estate agent fees are likely to be between 3% and 5% of the price of the property², and will be covered by the seller.
Property websites in Portugal
The best way to get a head start on finding a place to buy in Portugal is to look online. There are both national and smaller local agencies, so it's worth checking out local realtors too. Great national websites to find a house or apartment to buy include: 1. Century 21: This site has English language ads, and can be accessed simply using their app 2. Rightmove: UK based site offering property intended for the expat market - prices reflect this 3. ERA: Search using the detailed form, and fin...
One of the main pitfalls to avoid when buying property in a foreign country is scams. Luckily, there are a number of things you can do to avoid them. Firstly, make sure your chosen real estate agent is properly registered. All agents have to be registered with the proper body (known as the Associacao de Mediadores Imobiliarios) and hold a licence n...
Property types
You'll have a wide choice of apartments, houses or even land if you want to build your dream home in Portugal yourself. Naturally, you'll find more flats available in built up areas and cities, with houses and villas more readily available in newer developments in the suburbs, and in towns and villages. Following an increase in new construction in the cities and the coastal areas along with Algarve in particular, you'll find a good mix of older properties and new-build condos here.
Condition of the property
It’s a smart idea, though not required by law⁸, to get a survey done on any property you choose, before you commit to buying it. Older houses in particular can have hidden problems which are costly to fix. Your solicitor can help you find a registered surveyor.
Buying a property in Portugal isn’t too dissimilar to buying a home elsewhere in Europe or North America. You’ll need to²: 1. Decide which mortgages might suit you, and get an offer in principle so you have a budget in mind 2. Find the property you want to buy 3. Engage an independent solicitor to help check contracts and make sure the property is ...
One of the most important legal requirements for buying property in Portugal is to use a notary. The notary is different to your independent solicitor, as they work as a middleman on behalf of the state, taking responsibility for things like checking the Land Registry (Conservatória de Registo Predial) and Inland Revenue (Repartição de Finanças) to...
Portugal has a sophisticated banking system with plenty of choice in local and international banks. The largest banks include Santander, Novo Banco, BBVA and Bankinter. You might recognise the brands as many have a global presence. For example, global banking giant Santander has a Portuguese operation, offering many of the same accounts and deals t...
You’ll pay a deposit of at least 20% of the sale price² at the point of signing the initial agreement to purchase your new home (Contrato de Promessa de Compra e Venda). This agreement must also be notarised before you can move on with the process. If you’re not yet in Portugal, you might have to pay your deposit from abroad. This might mean making...
Jul 8, 2024 · Lisbon. The capital city of Lisbon by far is the most attractive place for real estate investment (residential or commercial property) in Portugal. This is mainly due to Lisbon being the business hub of Portugal.
Jul 4, 2023 · Buying property in Portugal as a foreigner is generally straightforward and clear. There are no special requirements, but getting a Portuguese tax identification number (NIF) is necessary to buy a property or get a mortgage.
Mar 26, 2024 · An overview of the Portuguese real estate market. Insights of the property purchase process in Portugal. Where to buy property in the country, and more. Why buy property in Portugal? There are many reasons why Portugal has become a hot destination for real estate investors.
Oct 14, 2024 · Portugal is becoming an increasingly popular place to buy property, whether for relocation or real estate investments. This small country in Western Europe has a high quality of life, low costs of living, a good climate, and a steady economy.
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