Santarem Portugal Real Estate: Prices, Top Locations & How to Buy

Conveniently situated just an hour to the north of Lisbon, Santarém, in Central Portugal, combines medieval charm – leading the city to be called the Gothic Capital of Portugal – with a vibrant local culture and beautiful natural landscapes.

Santarem Portugal real estate is ideal for property buyers seeking a more spacious countryside home or property in a smaller city than Lisbon, while you’ll still have easy access to the capital and more affordable housing entry points, with prices averaging at €1,479 per square meter.

With a variety of different housing types, including modern apartments, townhouses, farms, rural estates, and land that you can transform into your ideal home, Santarém offers a range of options for property investors, retirees, and families.

More lifestyle buyers and expats seeking out excellent deals and larger properties now have Santarém firmly on their radar. In this guide to Santarém, Portugal, real estate, we’ll explore property prices, rental yields, lifestyle appeal, and much more.

Why should I buy property in Santarém?

Santarém is one of Portugal’s oldest cities. Buying property in the city or the district (which shares the name) offers buyers a more peaceful home compared with the capital, while you can still easily get to Lisbon in around an hour by car, with there also being convenient train links. You are also not too far from Porto, Portugal’s second largest city, which is about two and a half hours’ drive to the north.

Santarém is ideal for commuters, retirees, families, and even second-home buyers, with a growing local economy and unique events throughout the year, including the National Horse Fair. The city also has a close-knit community, and you’ll be able to discover the true, authentic side of Portugal. The polytechnic university and lifestyle appeal bring in rental and resale potential for buyers.

Properties are more affordable, and buyers seeking more space than they will get in the capital are in luck. Santarém offers a mix of affordability, culture, and accessibility that is difficult to match, with fertile countryside, modern amenities, and a horse riding culture that has become interwoven with the lifestyle of Central Portugal.

Santarém, Portugal, Real Estate Overview

Below, we provide a clear overview of the real estate market in Santarém.

Property types in Santarém

You will find a range of properties in and around Santarém to cater to different buyers’ preferences.

• Rural houses: You will find spacious country houses and rural estates surrounding Santarém, many with large gardens or land plots.
• Modern apartments: In the city itself, many older properties have been renovated, offering modern facilities and amenities. There will be T0 (studio apartments), T1 apartments (one bedroom), T2 apartments (two bedrooms), and apartments with three-plus bedrooms.
• Historic townhouses: You’ll find old townhouses in the city and surrounding area, perfect for those seeking something more unique, with many offering modern interiors.
• Rustic land: You’ll find land plots at affordable prices, where you will be able to construct your dream home from scratch. This can be a much more affordable route, although it will take a few years from ideation to completion.
• Farms and equestrian property: The Santarem District is known for its strong equestrian traditions = it is entwined in the culture. You will find beautiful estates (Quintas or larger Herdades) that may have facilities such as stables or dining areas. They are ideal for horse enthusiasts, for luxury rural tourism, or for agricultural projects. These properties often come with extensive plots of land with them and are one of the most desired types of luxury property in Portugal.

Property prices

Property prices in Santarém stand at €1,479 per square meter, considerably cheaper than in Lisbon, where prices average at €4,935 in the Greater Lisbon Area, according to real estate databank, Confidencial Imobiliário.

Central Portugal is considered one of the most affordable regions in Portugal, with average prices for the region standing at €2,098 per square meter.

According to CBRE, the average transaction price is €193,158 in Santarém, again highlighting the affordability of this part of Portugal, where your money should stretch further.

• Apartments: Prices typically range from around €100,000 to €150,000 for smaller apartments, while modern or fully renovated apartments in central areas will be upwards of €200,000.
• Townhouses: Townhouses for sale in Santarém will range from 150,000 to €350,000, depending on their condition and whether they need renovation.
• Detached houses and villas: Detached homes generally cost between €300,000 and €500,000, depending on size, location, amenities, and condition.
• Rural farmhouses (Quintas): Countryside estates with land for farming or vineyards start at around €200,000, with larger or premium estates exceeding €500,000. Prime luxury Santarem real estate will be considerably more expensive than this, for example, properties that come with a private swimming pool or hectares of land.
• Land plots: Urban plots can start as low as €50,000 to €100,000, while larger plots will be upwards of €300,000+, depending on location and permitted use. Construction costs will typically be between €2,000 and €2,500 per square meter.

Rental yields

Average rental yields stand at 5.2 percent, according to CBRE, with average contracted rent being €842 per month. Investment potential is rising as more locals and foreigners seek a home in the radius of Lisbon with good connectivity.

Lifestyle in Santarém

The Santarém district offers a rich history and culture, centered on a clear regional identity.

• Equestrian heartland: Central Portugal is the home of the country’s rich horse-breeding culture, including the famous Lusitano horses, close to Golgegã, and hosts the annual National Horse Fair (Feira Nacional do Cavalo) every November, attracting crowds from across the country.
• “Gothic capital of Portugal”: Explore the charming – and dramatic – historic center, with intricate medieval architecture, such as the Church of São João de Alporão.
• Incredible gastronomy: Santarém hosts the National Gastronomy Festival each year, a testament to the delicious regional food and hearty cuisine you’ll find in the Ribatejo region.
• Nature and outdoor activities: This part of Portugal offers a laid-back lifestyle and an idyllic countryside living experience. If you want stunning natural beauty, with green rolling hills, you are in the right place, perfect for hiking and biking. You also have beautiful river beaches nearby, such as the Alamal River Beach, which offers sandy beaches and is a firm favorite in the summer months. You are also only an hour away by car from Portugal’s stunning Silver Coast, where you can enjoy one of the best watersports locations in Europe.

How to buy property in Santarém, Portugal?

This step-by-step guide to buying property in Santarém will help you easily secure your dream property.

Step		Description
	Step 1: Secure financing for your property	Assess your finances, explore mortgage options from Portuguese banks, and understand associated costs such as taxes, legal fees, and property registration expenses.
	Step 2: Find the perfect property	Set a budget and research the Portuguese real estate market, focusing on location, amenities, and rental potential. Seek guidance from real estate professionals like buyer's agents or real estate agents.
	Step 3: Make an offer	Once you find a suitable property, negotiate an offer with the seller, potentially facilitated by a real estate professional. Consider having a buyer's agent representing your best interests during negotiations.
	Step 4: Reservation Agreement and CPCV	After an offer is accepted, a Reservation Agreement may require a refundable fee. The Promissory Contract (CPCV) formalizes the promise of acquiring real estate between parties at a future date under pre-defined conditions and includes a deposit to secure the transaction. We recommend that the signing of the CPCV is done in front of a Notary.
	Step 5: Signing the Escritura	The Escritura, or Final Deed, officially transfers property ownership. Signed before a Notary, it involves paying remaining balances and fees. After signing, the buyer becomes the official owner, concluding the process.

If you are seeking out financing options, there are more than 15 banks that offer mortgages in Portugal for foreigners, with banks usually offering loans to non-residents at around 60-80 percent of the purchase price.

Property Taxes and Fees in Santarém

When buying property in Santarém, or anywhere in Portugal, you will need to adhere to the property tax regulations.

Property taxes at the time of purchase

• IMT (Imposto Municipal sobre Transmissões): IMT is a property tax you will need to pay at the time of purchase. The rate depends on the property’s value, intended use, location, and property type, and usually ranges from 0 to 8 percent, levied on the property price. There is a flat tax rate of 10 percent if the buyer has connections to a blacklisted jurisdiction.
• Stamp Duty: You will need to pay Stamp Duty of 0.8 percent at the time of purchase.

Annual property taxes

• IMI (Imposto Municipal sobre Transmissões): IMI is the annual municipal property tax that is payable to the local council. Rates range from 0.3 percent and 0.5 percent of the property’s taxable value (VPT) for urban properties and 0.8 percent for rural properties.
• AIMI (Additional to IMI): For properties with a value over €600,001, you will need to pay AIMI. AIMI tax rates are: 0.7 percent for properties valued between €600,001 and €1 million, 1 percent for properties valued between €1 million and €2 million, and 1.5 percent for properties valued at over €1.5 million.

For a deep dive into property taxes, check out our complete guide: Property Taxes in Portugal.

Additional fees

You will also need to factor in the additional fees when purchasing Santarem real estate.

• Notary fees: €500-€1,000
• Land registration fees: €250
• Legal fees: Ranging from €2,000 to €5,000, depending on the complexities of the property purchase.

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.