Updated: April 2, 2024
World-renowned for its Port wine and outstanding architecture, sitting proudly at the mouth of the iconic Douro River, Porto has recently become a huge tourism hub in Portugal. Expats looking for an alternative to buying a house in Lisbon, where the prices are skyrocketing, may consider Porto, the second largest city in Portugal.
If you’re interested in real estate investments in Porto, this article will walk you through the benefits of working with a real estate agent in Porto. We will explore how to find good estate agents in Porto who speak English and how their excellence in the real estate market, with administration, focused support, and personalized service, can make your future purchase a seamless success.
An Introduction to Porto's Real Estate Market
The Portuguese real estate market has been in good shape in recent years, and prices are on the rise in popular hotspot locations, such as Lisbon, Porto, and the Algarve, due to unwavering demand from foreign buyers.
Porto, the second largest city in Portugal and situated along the magnificent Douro River region, has recently attracted many expats and digital nomads, many of whom have settled in the city with their families. If you’re an aspiring expat who dreams of a life nestled within a historic European city, living in Porto may be your dream.
Property prices in Porto
Only around 230,000 residents live within Porto, but over 1.8 million live in the city’s metropolitan area. As you explore the city, prepare to discover warrens of charming narrow streets, stunning views, beach fronts, colorful houses, fragrant restaurants, and trendy gin bars.
Property prices in Porto City in 2023 stood at €4,296 per square meter, while prices for the Porto Metropolitan Area were €3,291 per square meter. Note that this is the average asking price, and the sales price can be lower.
Regardless of what type of property you seek, you should be able to find something to meet your needs – whether you are looking for a modern riverside apartment, old townhouse, or family home with sweeping views of the Atlantic. An excellent real estate agent who will help you through the process and facilitate your journey to find a suitable property in Porto. Especially because Porto is trending lately and many foreigners are considering settling in the city, finding and buying property in Porto, Portugal, can be pretty challenging.
What Types of Properties Are Available in Porto?
As mentioned above, in Porto, many property options are available for sale or rent. Whatever your taste is, you can find a suitable property in Porto based on your requirements. Property types in and around Porto come in all shapes and sizes: Luxury villas, farmhouses, charming cottages or townhouses, apartments, or condo units.
Working with a real estate agency in Porto, Portugal, will help you narrow down the available options and find the perfect property that meets your needs. In the following section, we’ll be able to give you more details about residential and commercial property in Porto.
Residential properties in Porto
Residential real estate is a property you buy to live in. In Porto, you will be amazed at the variety of available houses, and without a real estate agent, you may be a little bit confused about where to start. However, some helpful online real estate websites can help you go through the available properties in the market and learn more about the prices. Remember that there is no Zillow Portugal, where you can find all the properties in one place, but many different real estate websites have listings.
A good way to proceed is to set up email alerts on a few websites for properties that meet your requirements. You will then get information on new listings straight to your mail address. If you are in the process of narrowing down neighborhoods, our guide on Where to Buy Property in Porto may come in handy.
Commercial properties in Porto
Commercial properties are properties that you can buy for commercial purposes, such as small projects, restaurants, cafes, coworking places, or shops. Commercial properties, also called commercial real estate, investment properties, or income properties, are real estate intended to generate a profit. Given the influx of tourists and digital nomads in the city, this can be a lucrative investment.
If you’re still wondering, “Should I buy property in Porto or Lisbon?”, we answered your inquiry in this guide with a fair comparison between the two big Portuguese cities.
Why do you need a real estate agent in Porto?
Dealing with a professional English-speaking realtor in Portugal will cost you a little bit more than handling it yourself. Still, it will grant you greater efficiency and high-quality service. Plus, in the long run, you will likely save money. If you decide to work with a Porto real estate agent for international buyers, you will easily have the option to visit the available properties and check them yourself instead of simply sifting through pictures of the property online. You will also need to set up property visits on your own, which can be a pain, particularly if you do not speak Portuguese. Here are a few more reasons to work with a top real estate agent in Porto.
Expertise in the market
An experienced real estate agency in Porto will have access to an updated real estate market database. Plus, if you’re planning to buy a property and rent it out, the real estate service will save you a lot of hassle and help you find the perfect property for investment. An experienced agency or buyer’s agent team such as Goldcrest will make the property transactions a more straightforward process and ensure that all aspects of the purchase are in line with Portuguese real estate law. Buyer’s agents present insight and services that can save you money in the long run. You may get a better deal on exclusive deal on luxury real estate options than another property company may not have access to.
Navigating legal and financial processes
Real estate services in Porto should also include assisting clients with financial transactions and the legal paperwork related to your property. Real estate services in Porto can consist of the following offerings for their clients, depending on the business you work with:
- The finalizing of legal paperwork related to the property
- Liaising with real estate lawyers, the seller, etc.
- Completing property checks to ensure there is no debt attached
- Checking that the property was built legally
- Background interest checks on the owner/s of the property is/are and whether they have the right to sell it
- Help draw up and sign a purchase contract
Personalized property matching
Real estate services will be your trusted support system throughout the process until you finally settle down on the best option for your lifestyle. A business like a buyer’s agent will give you access to exclusive properties and in-person viewings. In case you have still not decided on where to buy properties in Porto, you can start creating your own checklist like:
- If you’d prefer a beach house in Porto or not?
- If you’re ok with the old houses, or do you want a new one?
- Would you like to live in the city center or prefer somewhere more private?
- Do you want to be situated close to international schools?
- Have you considered nearby areas like Vila Nova de Gaia or Vila do Conde?
How to Find the Best Real Estate Agent in Porto
Below, we will explore the steps you can take to get the ball rolling on your search for the best real estate agent for expats in Porto.
Identify your real estate needs
The best place to begin is to identify what you would like to achieve with your purchase and answer the questions about what you are searching for before you buy property in Portugal. Consider your dream home in Portugal and the details, such as the size of the house or apartment and the location of your lifestyle, and research Porto’s neighborhoods and property marketing trends in Portugal.
Begin searching for agents
In 2024, most businesses will be present online via social media or the businesses’ website. You can start your research online to find real estate agents that fit your criteria and check that the business specializes in working with expats. You can also check out expat groups in Porto and ask for recommendations from friends, family, or colleagues who have recently bought or sold property in Porto. Ensure to create a shortlist and try to find a Porto real estate agent with expertise in market trends and local knowledge and expertise.
Evaluate potential agents
When you’ve found the right realtor, endeavor to contact them directly, either over email or the phone, and talk to them about the kind of real estate services they provide, the kind of services you need, and their expertise in Portugal’s property market. Consider using this checklist to systematically evaluate critical criteria to help you make an informed decision when hiring a real estate agent or company focusing on residential purchases in Porto, Portugal.
Criteria | Evaluation |
Language Proficiency | Do they speak English? |
Experience with International Buyers | Can they provide project data proving experience? |
Property Market Insight | Do they have an exceptional understanding of the Portuguese real estate market to provide expert investment advice and services? |
Focus on Real Estate in Portugal | Is their service focused on real estate in Portugal? |
Track Record of Excellence and Communication | Do they maintain contact and have a track record of excellence? |
Business Credentials | Do they have business credentials to share with clients? |
AMI License Number | Do they have an AMI license number? |
Alignment of Company Values | Do their company values align with your interests? |
The Difference between Real Estate Agents and Buyer’s Agents
Having real estate agents is essential, but you should know that they will work on behalf of the seller and will get a higher commission for a bigger sale. A buyer’s agent works solely on behalf of the client (the buyer), which is a significant advantage of choosing a buyer’s agent, such as Goldcrest. Buyer agents do not sell real estate.
It’s also nice to have a real estate agent who always provides you with the latest updates in the real estate market and the recently added properties to boost you. Buying a house in Portugal with a buyer’s agent will provide you access to properties that real estate agents may not have, plus new listings and exclusive properties you will not find elsewhere. Look at our comprehensive guideline showcasing each option’s advantages and potential drawbacks.
Factors Real Estate Agent Buyer's Agent Work Scope Facilitates transactions for various parties Exclusively works for the buyer throughout the process Search & Selection Assistance May present options, but not solely focused on buyer's needs Focuses on finding options that suit the buyer best Representation Represents the seller's interests primarily Solely represents the buyer's interests Conducting Legal Checks May overlook some legal checks for buyer's benefit Ensures thorough legal checks for buyer's protection Language Assistance Language proficiency may vary Proficient in the buyer's language Negotiation Represents seller's interests in negotiation Negotiates exclusively for buyer's benefit
Documentation Handling May not prioritize all necessary documentation Ensures all required documentation is in order
Time and Cost Savings May not optimize for time and cost efficiency Saves time and money by focusing on buyer's needs
Commission Earns higher commission for higher sale prices Does not earn based on sale price, focused on buyer
Goldcrest: Who We Are and How We Can Help You
At Goldcrest, we’re a buyer’s agent who works solely on your behalf, giving you many exclusive advantages to help you narrow down the search for you.
Our team works diligently to ensure the correct steps have been taken with high-quality service, safeguarding you from poor property investments. For the past decade, we’ve been building our inside knowledge of the local property real estate market and have established extensive connections across the country, enabling access to an exclusive list of properties and investment routes. Get in touch now, and let’s handle the process to help you find what you are looking for.
Member of the AIPP
Goldcrest is proud to announce that we are a member of the AIPP (Association of International Property Professionals).
Based in London since 2006, over 380 corporate members in 31 countries are part of the AIPP association, which delivers consumer education and protection, industry best practices, and business development.
AIPP provides support in three key areas:
- International professional accreditation
- Sales promotion and client leads
- Knowledge, training, and community
This AIIP seeks to improve standards for buyers of foreign property. As a member of the AIPP, we are best positioned to help foreign buyers secure their dream home in Portugal.
Frequently Asked Questions about Finding a Real Estate Agent in Porto:
What does a real estate agent do?
Top rated Porto real estate agents in Porto provide valuable insights and native knowledge, and also help clients secure the best deals, bridge language barriers and negotiate prices.
What are the services offered by Porto estate agents?
Depending on the company you work with real estate agents in Porto, Portugal, offer the following services related to Porto homes for sale:
- The finalizing of legal paperwork related to the property
- Liaising with real estate lawyers, the seller, etc.
- Completing property checks to ensure there is no debt attached
- Checking that the property was built legally
- Background interest checks on the owner/s of the property is/are and whether they have the right to sell it
- Drawing up and signing a purchase contract
Why should I consider hiring a real estate agency in Porto?
Buying property in Portugal can be tricky. A bilingual real estate agent in Porto, Portugal, can provide you with advice and property listings and help you navigate the Portuguese market so that you can find the perfect selection of homes for sale that fit your requirements.
How to find the best real estate agent in Porto?
You will need the assistance of a real estate agent or buyer’s agent to go deeper in the buying process. To find a good one, prioritize their experience in working with expats and helping individuals with similar requirements to your own. Also be sure to check their credentials and reviews from past clients.
Should I work with a real estate or buyer's agent?
In Portugal, real estate agents work on behalf of the seller and get a higher commission for a higher sale, while a buyer’s agent works on behalf of the buyer. While real estate agents should have your best interests at heart, working with a buyer’s agent can be a good idea due to this conflict of interest. They will help you locate the best properties at the best price.
What is the most credible real estate agent license?
The most credible real estate license is the AMI license issued by IMPIC, allowing real estate agents with a license to conduct business in Portugal real estate.
How to verify an agent's credentials?
Verifying a real estate agent’s credentials involves visiting the IMPIC website and checking out an AMI number link. Input the number and review the results—confirmation of registration and displayed license numbers ensure credibility.
What is a real estate agent's commission in Portugal?
A real estate agent’s commission rates vary and depend on the property’s purchase price. However, affordable real estate agents in Porto usually receive between 3 and 5 percent of the property price in commission.
