Buying Property In Portugal With Peace of Mind
Article By Portugal Residency Advisors - Offical Legal and Residency Partner to KipperTree.
09 08 2023
Link to Portugal Residency Advisors here
Thinking about purchasing a property in Portugal? You may be wondering how to buy a house in Portugal.
The process of buying a house in Portugal is generally straightforward, but there are some differences to be aware of compared to other countries.
In the following article, we’ll cover all the key points you need to know.”
The Portuguese real estate market
Real estate in Portugal has become increasingly popular in recent years, especially among foreign buyers.
Portugal offers an excellent quality of life, good weather, and a relaxed lifestyle that many people find appealing.
Additionally, programs such as the NHR (Non-Habitual Resident), which offers tax benefits to those who move to Portugal or the Portugal Golden Visa which offers residency to non-EU citizens who invest in real estate, have boosted demand for property in Portugal.
Property prices in Portugal vary depending on the location, with prices being higher in popular tourist destinations such as Lisbon, Porto, and the Algarve region.
However, compared to other Western European countries, buying a house in Portugal is still relatively affordable, making it an attractive destination for those looking to invest in property or buy a second home.
In Portugal, the real estate market is regulated, and there are several legal and administrative procedures that need to be followed when buying property.
It is recommended that buyers seek the advice of a qualified lawyer and a real estate agent when navigating the buying process.
Why buy a property in Portugal
Portugal is a popular destination for property buyers from around the world and there are many benefits to owning a house in this beautiful country.
Here are some of the top benefits of buying property in Portugal:
Affordable prices
Portugal’s real estate market is relatively affordable, especially compared to other European countries. This makes it an attractive option for buyers looking for a good deal on a property.
Safe country
In the year 2023, the World Peace Index placed Portugal in the seventh position among nations around the globe. This notable ranking reflects Portugal’s efforts and commitment to fostering peace and stability within its borders.
The country’s proactive approach to international relations and its dedication to resolving conflicts through diplomacy have contributed to this achievement.
Beautiful scenery
Portugal is known for its stunning natural scenery, including its coastline, mountains, and forests. Owning a property in Portugal allows you to enjoy this beauty up close and in person.
Rich culture and history
Portugal has a rich cultural heritage, with a long and fascinating history that is evident in its architecture, cuisine, and art.
Owning a property in Portugal allows you to immerse yourself in this culture and explore all that the country has to offer.
Relaxed lifestyle
Portugal is known for its laid-back, relaxed lifestyle, with a focus on enjoying life and spending time with family and friends.
Owning a property in Portugal allows you to embrace this lifestyle and enjoy a slower pace of life.
Is buying a property in Portugal a good investment?
Buying a house in Portugal can be a good investment for several reasons, but it depends on various factors and your individual circumstances.
Here are some advantages you may consider:
One of the most secure and appealing real estate markets in Europe
Lowest real estate prices compared to other European capital cities
High rental income yields can be found, especially in city centres and tourist areas due to the shortage of housing
Investors are strongly protected by Portuguese legislation compared to other markets
There is a diversified range of buying and investment opportunities in the capital, coast, or countryside
How to find a house for sale in Portugal
Real Estate Agents
Real estate agents in Portugal can help you find properties that meet your specific requirements.
They have access to a wide range of properties and can provide advice on the buying process. Some popular agencies in Portugal include:
Remax
Century 21
ERA
Keller Williams
If you are considering premium properties, you might check:
JLL
Engel & Volkers
Sotheby's
Christie’s /Porta da Frente
Online Property Portals
There are several online property portals that list properties for sale in Portugal and are very easy to navigate, such as:
Idealista
Casa Sapo
Imovirtual
KipperTree
Imovendo
These websites allow you to search for properties based on location, price range, and other criteria.
Newspapers
Local newspapers and classifieds in Portugal may also list properties for sale, especially in smaller towns and villages. You may check:
Diário de Notícias
Correio da Manhã
Jornal de Noticias
Jornal Expresso
Networking
Networking with locals or ex-pats in Portugal can be a good way to find out about properties for sale that may not be listed publicly.
Property auctions
Property auctions are a popular method of buying property in Portugal. Property auctions, or “leilões imobiliários” in Portuguese, are typically organized by banks, financial institutions, and public entities such as municipalities, courts, or tax authorities.
One popular platform for property auctions in Portugal is E-leilões, an online auction site that specializes in the sale of distressed and repossessed properties.
E-leilões offers a wide variety of properties for sale, ranging from apartments and houses to commercial properties and land.
For more information on how to buy in Portugal, read the full article here
