Where To Buy Property in Portugal
When deciding where to buy property, you basically have two options:
- Pay less and get a property in the countryside, or
- Pay more and live in a bigger city.
As we’ve mentioned above, this depends on your purpose of purchasing the property. Are you thinking of retiring in Portugal? Opening a new business? Investing in real estate for the Golden Visa? Or planning to rent out your property?
All those questions need to be answered before you make your final decision. We’re going to walk you through some cities in Portugal to help you decide on where to buy.
Lisbon
Lisbon, the capital, is a bustling city in the heart of Portugal. Expats and investors look at Lisbon as one of the most affordable European capitals with a high quality of life. Lisbon has recently turned into a hub of economic prosperity, thanks to the tech companies and startups emerging there.
Lisbon has a competitively growing real estate market, with an average growth of 2.4 percent to 2.6 percent annually since 2015. Due to high demand, the prices in some districts of the city have seen a dramatic increase. Those districts are namely, Avenida da Liberdade, Lapa, and Baixa Chiado. Yet, many buyers and investors are still searching for real estate investment opportunities in these highly trendy areas.
If you want to buy a property in Lisbon without paying too much, you might want to look in areas a bit further away from the city center, such as Amadora or Benfica.
Young expats in Portugal often choose to reside in locations like Cascais or Estoril. This is because the properties there are cheaper, and it’s only a 30-40 minutes drive away from Lisbon.
Porto
Porto is a quaint fishing town that has a unique mix of culture and metropol life. It’s both commercial and touristic which makes it an ideal investment location.
The real estate market in Porto is exhibiting impressive growth. Americans moving to Portugal often choose Porto, mostly because it looks over the Atlantic and boasts some luxurious beachfront properties.
Another reason for Porto’s popularity is the abundance and variety of real estate property in the city. While Foz Douro neighborhood is home to the best Atlantic beachfront properties in the world, Ribeira appeals to buyers who are looking for commercial properties.
The Algarve
The Algarve is also known as The Golden Coast. Investors and expats rush to this region for its massive choice of properties. These properties range from apartments with ocean views to massive luxurious villas.
There are various neighborhoods in the Algarve which tend to be on the higher end of the price spectrum. The Vilamoura neighborhood, for example, is famous for its luxury homes and villas. Some other neighborhoods with high-end real estate options are Lagos and Albufeira.
Alternatively, you can look at Alcoutim or Monichique for some more affordable opportunities in real estate.
Keep in mind that the Algarve region has proved once and again to be consistently growing as an economical and touristic pillar in Portugal.
The Silver Coast
Portugal is so rich with amazing beaches that it has both a Golden Coast and a Silver Coast. This magnificent coastline, situated between Lisbon and Porto, has some irresistible beaches and excellent beachfront properties.
Areas in The Silver Coast such as Tomar, Peniche, Obidos, or Nazare, offer you high-end real estate opportunities at lower prices than those in the Algarve region.
It is important to note that these areas are not as populated as the Algarve. This means that you can have a quieter, slower lifestyle there.
Type of Real Estate in Portugal
Portugal is a competitively well-developed country, and the real estate market there is just as well-developed. The properties in Portugal range from studio apartments to massive luxurious villas on the coast. There are some terms that you should know when looking for property in Portugal.
House Terminology
There are various types of houses you can find across Portugal, namely:
