The first things you will need to know about property for sale in Portugal are what the best areas to buy property are, what kind of prices you can expect to pay and where to look for real estate opportunities.
Finding property for sale in Portugal may seem like a daunting task considering the numerous offers featured online. You may wonder whether the properties are valued at a fair price, and what the potential for growth on the investment is. We recommend working alongside a buyer’s agent to help find the best options on and off the market.
Why buy property for sale in Portugal?
Properties in Portugal are becoming highly sought after.
This is for a number of reasons:
Great weather for most of the year
Plenty of tourists visiting Portugal year-round
Relatively good value for money on property purchases
Good opportunities to earn healthy rental yields
The potential for growth on investments
Many people want to relocate to Portugal
English language is widely spoken across the country
What are the best areas to buy property for sale in Portugal?
The best areas to purchase property in Portugal depend largely on what your goals are as a buyer. If you want to relocate to Portugal permanently, perhaps you are looking for a more rural and authentically Portuguese area with a vibrant community. If you are looking to buy property as an investment with the purpose of renting, the area should be popular with tourists, or central to the capital, Lisbon.
Property for sale in Lisbon, Portugal
If you are looking for property for sale in Lisbon, Portugal then you’ll probably first be struck by an overwhelming number of options. Not all of these options will be good value, so we highly recommend undertaking some detailed research into the Lisbon property market or working with a buyer’s agent. This is particularly important in a hot property market like Lisbon.
Lisbon is one of the safest bets in terms of a sound investment. Being the capital of Portugal, steeped in history and natural beauty, Lisbon is popular with tourists, locals and expats alike. There will always be plenty of people looking to rent property in Lisbon whether that is in short-term holiday rentals or long-term rentals.
Property for sale in Porto, Portugal
One of the most popular options outside of Lisbon is property for sale in Porto, Portugal. Porto is hugely popular on the tourist trail and has a beautiful fishing village aesthetic whilst still being a reasonably large city in Portugal.
Property for sale in Salgados, Portugal
Property for sale in Salgados, Portugal may be a less commonly searched term than Lisbon and Porto but if it’s a beachfront property in the Algarve you are after, then Salgados could be a good place to start looking.
Property for sale in Braga, Portugal
Braga might be a city of interest if you’re looking for property for sale in Portugal, particularly if you are after a quieter place to live that’s not on the traditional tourist trail. It might not be your safest bet for holiday rentals, but as a relocation city in Portugal it could be a great place for families to live.
Property for sale in Sintra, Portugal
If you want to have unrivalled nature, beaches and be close to Lisbon then you might be searching for property for sale in Sintra, Portugal. Popular with locals and tourists alike, Sintra is a fantastic place to invest in property.
What’s the very best place to buy property for sale in Portugal?
Most people would consider property for sale in the Algarve, Portugal as the very best place to buy property in Portugal. This is largely because of the warm climates and year-round tourists that frequent the region.
Property for sale in Faro, Portugal
Faro is one of the main areas in the Algarve, where the airport is located and there are numerous beautiful beaches. If you are looking for property for sale in Faro, Portugal you may want to enlist the help of a buyer’s agent as there are a lot of properties out there and you want to be sure you are making the right investment.
Property for sale in Lagos, Portugal
Lagos is another of the most visited places in the Algarve region, and is therefore a great place to consider if you are looking at purchasing property in order to capitalize on holiday rentals. There will be an array of properties available online if you are looking for property for sale in Lagos, Portugal so narrowing down the characteristics you are looking for would be a good place to start.
Property for sale in Loule, Portugal
Loule is another hotspot of tourists in the Algarve region and therefore a popular choice for real estate investors. Most people who look for property for sale in Loule, Portugal will be drawn in by the proximity to beaches, the lively restaurants and bars and the fun vibe in the local community.
What are property prices like in Portugal
In Portugal, property prices are still largely very good value compared to the rest of Europe. In 2019, a study from PWC concluded that Lisbon was one of the most interesting European cities for property investment.
Housing prices in Lisbon and Porto continued to increase from 2019 on to 2020 and are booming, despite the global pandemic. Foreign investment and the renovation of old properties, in exchange for residence permits continues to transform Lisbon.
As Portugal’s real estate market has expanded, opportunities to make a profit from investments have increased too, foreign property ownership requirements and mortgage rates are at this point so reasonable that those investors buying property are still able to benefit from significant capital gains.
In a study conducted in 2020 by Global Citizen Solutions, the average house prices in Faro were between €500K and €600K.
In a Deloitte report on European housing prices, Lisbon had a median transaction value per sqm in the Lisbon City centre of around 3.500€ for new dwellings.
How to find the best property for sale in Portugal deals?
If you want to find the best property for sale in Portugal, it’s worthwhile to first consider the three key essentials to buying a property in Portugal, along with whether you want to enlist the help of a buyer’s agent. They will be able to show a highly tailored selection of on and off market opportunities, to suit your needs.
Tips when buying property in Portugal
· Seek help from professionals
· Understand the difference between a buyer’s agent and a realtor
· Get your paperwork and contracts in order
· Do your due diligence
· Consider taking out a mortgage
· Buy property in Portugal for the Golden Visa (real estate investment restrictions apply)
Get in touch
Goldcrest are a buyer’s agent and experts in property. We can assist you and your family in finding the best way to invest in Portugal. The Goldcrest team have deep expertise in the Portuguese real estate market and will always act diligently on your behalf to negotiate the best possible deal for you.
Frequently asked questions about property for sale in Portugal
Why should I buy property for sale in Portugal?
There is still a relatively good value per square meter on the property prices in Portugal and the market is showing no signs of slowing down.
What are the best areas to buy property for sale in Portugal?
The best areas to buy property in Portugal are the Algarve and Lisbon.
Where can I find bargain property for sale in Portugal?
If you are looking for bargain property for sale in Portugal, you are probably best suited to looking in more rural areas of the country and looking for renovation projects.
How can I buy property and acquire legal residency in Portugal?
The process of buying property to qualify for legal residency is a detail oriented one, under the golden visa program. Also, from July 2021, new real estate investment restrictions will kick in, blocking investors from purchasing property in key urban centers like Lisbon, Porto and the Algarve. All steps must be followed in the correct order to qualify, and it’s wise to consult with a Golden Visa specialist first.