Real Estate Investment Cascais: Essential Insights

Cascais, on the Portuguese Riviera, is the ultimate destination for lifestyle buyers and property investors. This quaint seaside town is strategically located just 30 minutes from Lisbon, offering the best of both worlds – coastal living and urban proximity.

Cascais is one of the most popular destinations for real estate investment in Portugal, particularly for luxury properties with rental yields averaging at 5.5 percent, and being much higher in high-demand areas. Foreign investors, including US nationals, will face no restrictions on purchasing property here.

In this article, Real Estate Investment Cascais, we’re going to provide you with essential information about investing in property in Cascais, from providing you with an overview of the market to guiding you through some of the best places to invest in houses for sale in Cascais, Portugal.

Stick around to read about:

• Why invest in Cascais?
• An Overview of the Cascais Real Estate Market
• Types of Investment Opportunities in Property in Cascais
• Exploring Property Prices in Cascais, Portugal
• Key Locations for Real Estate Investment in Cascais
• How to Buy a Property in Cascais
• Step-by-Step: Real Estate Investment in Cascais Process

Why invest in Cascais property?

Top 5 Reasons Cascais is Attractive to Investors

Below, we outline five key reasons why property investors are flocking to Cascais.

1. Thriving real estate market

Investors purchasing property in the Cascais city center or the surrounding area will be thrilled to know that buying property in Cascais, Portugal, can be a very smart financial move. Property values are increasing year-on-year, with prices increasing 30 percent between 2022 and 2024.

Cascais attracts local and international buyers due to its high gross rental income (averaging at 5.5 percent), booming tourism industry, and mix of luxury villas, penthouses, and apartments.

2. Prime location

Cascais is situated on the Portuguese Riviera, close to Lisbon and the Sintra Natural Park, making it a desirable location for both tourism and residency. Proximity to Lisbon means buyers can enjoy the best of the Portuguese capital and excellent transport links through the Lisbon International Airport. The area also has a strong rental market, particularly during the tourist season, offering strong potential for rental income.

3. High quality of life

For lifestyle buyers, there is no better place than Cascais. Families interested in investing in property and settling down here will find a laid-back lifestyle in a coastal region with modern amenities, spacious houses, and an incredible beach life. For retirees searching for the right property as a summer residence or a home for permanent relocation, this relaxing seaside town is the perfect place to enjoy their well-earned retirement.

4. Education opportunities

There are 20 excellent international schools in Cascais and Estoril, offering a range of curricula, languages, and teaching styles. Some popular options include St George’s, the Carlucci American International School, and the Lisbon Montessori School. Various schools teach a wide range of teaching styles, languages, and curricula.

5. Luxury proeprty market

Cascais is particularly known for its luxury homes and villas, attracting high-net-worth individuals. With Lisbon ranking as the best city in Europe for millionaires, many high-net-worth buyers invest in Cascais properties, with properties appreciating hugely over time. However, while luxury properties are widely available, areas like São Domingos de Rana and Alcabideche offer more affordable housing options.

Cascais real estate market growth & ROI trends

The Cascais real estate market has long been popular with expats and continues to attract international property buyers. In 2025, the average asking price for property in Cascais stood at €7,260 per square meter. Prices are significantly higher for luxury properties with strong long-term value in prime neighborhoods in Cascais, such as Quinta da Marinha and Monte Estoril.

Is now the time to invest in Cascais?

Investing in Portugal real estate is an increasingly attractive option for foreign investors. Rental yields for property in Cascais stood at 5.5 percent in São Domingos de Rana, 5 percent in Carcavelos and Parede, and 5.1 percent in Cascais and Estoril, with the overall yield for Cascais standing at 5.5 percent.

CBRE, a global leader in real estate and investments, has identified Cascais, along with Lisbon and Oeiras, as recording the most expensive houses in Portugal over the past few years, with the luxury market thriving. However, while the average price of homes for sale in Cascais, Portugal, is higher than it once was, you can find some bargains, and it is still possible to get a nice return on your investment, which makes investing in the Cascais area a lucrative venture for international investors.

Note: Be sure to check the latest rules for an AL license in Portugal (short-term rental license), as rules are constantly changing. While there are restrictions in getting an AL license in Lisbon, Cascais remains open. This comparative openness is a major advantage for high-yield tourist rentals in Cascais.

Types of Investment Opportunities in Property in Cascais

When you buy property in Cascais, you will discover an excellent selection of property types. Below, we provide an overview of the most common options property investors will find.

Residential properties

• Apartments: Apartments provide steady passive income or potential capital appreciation, with short-term and long-term renters commonly opting to rent apartments. You will also find townhouses and historic homes in the old center, and although these properties will be on the higher end, investment returns will be higher.
• Waterfront properties. Cascais’s stunning coastline and ocean views attract investors to consider waterfront properties. These exclusive properties offer breathtaking views and are in high demand, making them an enticing property investment option.
• Luxury properties. For investors seeking high-end opportunities, Cascais features a selection of luxury villas that come with swimming pools, private security, and private gyms. These elegant estates cater to affluent buyers and can yield substantial returns, especially considering Cascais’s status as a luxury destination. Recent studies by the property intelligence unit, Knight Frank, have positioned Cascais as having seen increased demand from local and international buyers, especially American and Brazilian investors.im

Commercial properties and touristic real estate

Investing in commercial real estate can be an appealing option in Cascais, given its growing business and thriving tourist sectors. Commercial properties offer opportunities for steady rental income and the potential for long-term growth.

Offices: With a thriving local economy and an increasing number of businesses setting up shop in Cascais, investing in office spaces, including spaces within commercial buildings or dedicated office complexes, can be a profitable venture.

Retail spaces: As a popular tourist destination, Cascais presents investment opportunities in retail spaces. These spaces can be utilized for shops, boutiques, restaurants, and other commercial ventures that cater to both locals and visitors.

Hotel projects: As Cascais experiences a continuous influx of visitors that increases year-on-year, investing in hotel projects can be lucrative. The hospitality industry in Cascais has the potential for significant returns on investment.

Vacation rentals and short-term lettings: With the rise of platforms like Airbnb, investing in vacation rentals and short-term lettings has become increasingly popular. Cascais’s appeal to tourists and proximity to Lisbon make it an ideal location for such investments.

Exploring Property Prices in Cascais, Portugal

Now that you have discovered the property types available for sale in Cascais, Portugal, we’ll explore the cost of property in this section of our real estate investment Cascais guide.

The table below gives you insight into the price per square meter you can expect to pay when you buy property in Cascais. Data is from the independent Portugal real estate databank, Confidencial Imobilário.

Key Locations for Real Estate Investment in Cascais

Cascais and Estoril

Cascais is an extremely desirable place to snap up a property, and the historic town has something to tempt any buyer. You’ll come across luxury properties in Portugal, modern apartments, and a yacht marina.

With several charming beaches, such as Praia da Rainha, conveniently located in the heart of Cascais, Praia do Guincho, situated just north of the city, the famous Cabo da Roca, the most westerly point in Europe, and the outstanding Sintra Natural Park, there are many attractions to living here.

Further east, you have Estoril, where you’ll find spacious properties with waterfront views. The Estoril promenade is a lovely place for a primary residence and offers one of the best sunsets in Portugal. Outside the center, you’ll stumble across picturesque mansions just a short walk from the beach.

Indeed, Cascais and Estoril are, in many ways, the epitome of luxury living. However, with this said, you’ll still find many more affordable options, for example, in Birre, to the north of the town center.

This part of Portugal is also fantastic for families looking to move to Portugal, with several good international schools, such as PaRK International School, St António International School, St Julian’s School (close to Carcavelos), St Dominic’s International School, and St John’s International School.

Carcavelos and Parede

Carcavelos is a firm favorite with Lisbon residents who are looking to get their beach fix. Surfers will find some nice waves here.

Carcavelos has a permanently relaxed vibe and is a short distance from Lisbon and Cascais. Large houses lead down to Carcavelos beach, and several spacious properties are up for grabs. Parede is home to the Avencas and Parede beaches, where you will also find some of the best restaurants and terrace bars on the waterfront promenade, perfect for beach lovers to enjoy the sunset.

Alcabideche

Alcabideche is situated to the north of Cascais and Estoril and borders the scenic Sintra Natural Park, where you can marvel at the colorful Pena Palace and the dramatic Castle of the Moors. For nature lovers, you can go hiking and cycling to discover this incredible part of the country. Moreover, its proximity to the charming and less crowded beaches of Praia da Ursa and Praia da Adraga adds to its allure.

If golf is your passion, you’re in luck, as world-class golf courses are easily accessible. Among the best golf courses, the Penha Longa Resort stands out as an exceptional choice for satisfying your weekly golf cravings.

Families seeking quality education will find convenient options nearby, including IPS-International Preparatory School and St. James’ Primary School, both of which are very good international schools. The area offers a safe and welcoming environment for raising a family.

São Domingos de Rana

São Domingos de Rana, situated behind Carcavelos and Parede, offers the most affordable homes for sale in Cascais. Being close to the sea and away from the bustling tourist areas, it remains a peaceful option even during summer. Moreover, it’s just a 20-minute drive from Lisbon.

Step-by-Step Buying Process for Foreign Investors

The process of purchasing property in Portugal can be broken down into the following five steps.

• Step 1: Get your NIF (Portuguese Tax Identification Number) and finances in order.
• Step 2: Find the ideal property in Cascais and negotiate the price.
• Step 3: Sign the Promissory Contract (CPCV).
• Step 4: Pay your taxes and notary fees, including the Property Transfer Tax (IMT) and Stamp Duty.
• Step 5: Sign the final deed (Escritura) at a Notary and pay the remaining transaction costs.
• Step 6: Register the property with the Land Registry (Conservatória do Registo Predial) and the tax office (Finanças). You will need to pay land registration fees of €200-250.

Practical Information about Investing in Cascais Property

Below, we provide some relevant information for international buyers seeking to invest in Cascais.

Financing and mortgages

Foreign buyers can get mortgages in Portugal, with more than 15 banks offering financing options. Non-residents can usually borrow around 60-80 percent of the property price, while residents can borrow around 80-90 percent. With choices between fixed-rate, variable-rate, and mixed-rate mortgages, buyers should shop around to find the most suitable deal for their specific circumstances.

Taxes in Portugal

When foreigners buy property, they will need to pay Property Purchase Tax/ Property Transfer Tax (IMT) at the time of purchase (ranging from 0-8 percent, and 10 percent if there is a connection to blacklisted jurisdictions) and Stamp Duty. Taxes you will be required to pay annually include Municipal Property Tax (IMI). You should also consider the Capital Gains Tax if you are considering selling your property. For a complete overview, see our guide to Property Taxes in Portugal.

Residency options

It’s also important to note that for US buyers and other non-EU/EEA nationals, purchasing property in Cascais does not grant you the right to live in Portugal, although a property purchase can support your visa application (you need to show proof of accommodation for most visa applications). Popular Portugal residency visa options include the Golden Visa (for investors), the D7 Visa (for retirees or individuals with passive income), and the Digital Nomad Visa (for remote workers). Bear in mind that the real estate investment route of the Golden Visa ended in 2023, although the program remains open, with popular options being the investment fund and cultural production routes.

Tax implications for US buyers

For US buyers in Cascais, we highly recommend opening a bank account in Portugal to mitigate against USD/EUR currency risks. As the USA taxes its citizens who live outside of the US, it is worth working with a tax accountant to optimize your affairs, which can be complex. Portugal has a Double-Tax Agreement with the USA, which means you can be eligible for tax relief.

Tax incentives

For investors seeking to relocate to Portugal, the NHR (non-habitual residence) program has come to an end. However, it has been replaced by IFICI (Tax Incentives for Scientific Research and Innovation) – also known as the Portugal NHR 2.0. The program offers a special 20 percent personal income tax rate, amongst other benefits.

Investment Opportunities in Cascais Real Estate

Rental income and rental yield

Investing in Cascais real estate presents an opportunity for investors seeking to secure both long-term and short-term rental income. This is due to Cascais’s popularity amongst tourists, but also longer-term residents looking for a place to rent out.

There is a continuous demand for rental properties, making it the perfect investment to secure high passive income throughout the year, with rental yields in Cascais averaging at 5.6 percent, and beach locations and the town center providing higher returns.

You will find fewer vacancy rates for short-term rentals compared with other seaside towns in Portugal, thanks to its close proximity to Lisbon and blue skies throughout the year. For long-term rentals , the constant need for good-quality housing means that you should not find it difficult to find tenants to stay on an annual basis.

Property appreciation

Demand for Cascais real estate has been steadily increasing in recent years, with property values increasing year-on-year. This makes investing in the seaside town highly appealing for prospective investors seeking stability and continued growth potential.

Conveniently located close to Lisbon, the town’s prime location, reputation as a prime coastal destination, and modern infrastructure continue to position Cascais as an ideal investment spot for both international and domestic buyers. To back this up with some figures, property prices in Cascais increased from €5,563 in 2022 to €7,260 in 2024, demonstrating an increase of €1,697, or about 30.5 percent in just two years.

Sustained demand equates to consistent capital appreciation over time, with teh area’s appeal to high-net-worth individuals and second-home buyers adding to long-term investment potential, with Cascias’s being one of the most rewarding investment hubs in Portugal’s property landscapes.

Risks and Challenges of Real Estate Investment in Cascais

To avoid any roadblocks on your journey towards property ownership in Cascais, Portugal, it is important to list and work through the possible risks and challenges you may face during the buying process. Below is a list of risks local and international buyers may face.

Understanding the market

Before investing in Cascais property for sale, you’ll want to have a clear understanding of the local market. Conduct a comprehensive property search on property values, supply and demand dynamics, local regulations, and market trends. It is worth seeking advice from experts who have an in-depth knowledge of the market, for example, to pinpoint areas with the potential to get a strong return on your investment.

Legal due Diligence and legal counsel

Performing due diligence is crucial when you buy property in Portugal. You will want to double-check the property and seller to ensure you will not face any legal complications later. It’s advisable to seek assistance from a  real estate lawyer in Cascais and a buyer’s agent, especially if you are unfamiliar with the Cascais property purchase.

Market volatility and economic influences

As with any real estate market, the Portuguese market is subject to fluctuations and economic factors that can impact property values. Consider the potential return on investment and how factors like inflation rates might impact your investment decision and influence house prices.

Living in Cascais

Living in Cascais offers excellent healthcare and education, a high quality of life, and the possibility to enjoy outdoor activities  – from golfing to watersports- throughout the year.

• Outdoor activities: With yoga, tennis, surfing, watersports, biking, and golf, you’ll be able to enjoy your favorite activities while living in Cascais.
• Cultural events: The Cascais Municipality hosts a range of events throughout the year, and you’ll find events such as the annual Jazz festival, summer parties, and art exhibitions.
• Gastronomy: Enjoy fresh seafood and fish, traditional Portuguese restaurants, international cuisine, and fine-dining establishments.
• Climate: Cascais enjoys a mild Mediterranean climate, making it an attractive place to live and visit year-round. Residents and tourists can enjoy watersports, golfing, and plenty of other activities throughout the year, making it ideal for investors to buy property to rent it out, either in the short or long term.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.