Portugal has been a popular destination for expats and retirees for years, and it’s not hard to see why. With a mild climate, stunning coastline, and a low cost of living, Portugal has a lot to offer.
If you’re considering making the move to Portugal, you might be interested in purchasing property there. Here’s what you need to know about real estate in Portugal.
About Portugal Real Estate
Portugal’s real estate market has been steadily growing in recent years, with property prices increasing. Despite this, Portugal real estate is still relatively affordable compared to other European countries, making it an attractive option for buyers.
There is a wide range of properties for sale in Portugal, from traditional houses and apartments to modern villas and luxury estates. With a wide range of properties available, affordable prices, and a growing market, Portugal offers a lot of potential for buyers.
Houses for sale in Portugal vary in price depending on the location, size, and condition of the property. Generally, you can expect to pay more for properties in popular areas such as Lisbon and the Algarve. The Algarve, in particular, is known for its stunning beaches, golf courses, and relaxed lifestyle. However, if you’re willing to look outside of these areas, you can find more affordable options.
Advantages of Buying Real Estate in Portugal
Buying real estate in Portugal comes with certain advantages. One of them is that the country offers natural beauty and beaches. So, you can have a great time while you’re staying in Portugal.
Other benefits of getting a Portugal property include affordable property prices and tax advantages. Let’s look at them in more detail.
Tax Advantages For Foreigners
There’s a tax schedule called NHR in Portugal. Standing for non-habitual residency, NHR offers attractive tax incentives for new tax residents. What’s more, these advantages apply for a total of 10 years.
The program also offers you the exception of paying gift or inheritance taxes. So, you can benefit from all these advantages when you buy Portugal real estate and stay here.
Affordable Property For Sale in Portugal
In Portugal, property prices are more affordable when you compare them to other countries like France or Spain. As a result, the country becomes an attractive destination for many investors and buyers alike.
Things To Consider Before Buying Portugal Property
If you take certain questions into consideration, your journey of buying property for sale in Portugal can become smoother. Let’s check each of them below.
The Reason You Buy Property in Portugal
First, ask yourself why you want to buy real estate in this country. You need to review if you want to live in a summer house. Or, if you want to live in Portugal like a regular resident. Or, you may also want to invest in Portugal real estate. Once you answer these questions, you can begin to consider the features of the property.
Features of Your Property
It’s advisable to prepare a list of the features of your potential house while looking for a property. You may want to buy a house with a swimming pool. Or, you may want to live in a small apartment in the city center. When you set your expectations, the process will become easier.
It’s important to define your budget before meeting with the seller or the agent. There are some costs you need to include in your budget. For example, property taxes and bank transfer fees are some of them.
Where To Buy Portugal Property
You have various options in terms of location when you buy Portugal real estate. Decide whether you want to live near the beach or in the countryside.
Note that Lisbon offers lots of amenities for you as a metropolitan city. If you have children, you can find international schools for them. Also, the city offers amazing views from many points. It also has a vibrant nightlife and great architecture. You’ll find that real estate prices may change depending on the region.
Porto is another popular city to buy property in. Like Lisbon, Porto also offers a rich cultural legacy for its residents. Also, it’s one of the commercial cities in Portugal.
In short, having a Portugal real estate means that you have access to many benefits. Start searching for properties in Portugal today!