Updated: July 6, 2023
Portugal’s real estate market has witnessed the emergence of a promising trend: The availability of rehab homes for sale. These properties offer an exciting opportunity for homebuyers seeking a blend of traditional charm and modern convenience.
Rehab homes, also known as renovation or refurbishment properties, are houses that have undergone extensive renovations, transforming them into stylish and contemporary living spaces while often retaining their authentic architectural elements. These homes often feature a harmonious fusion of old-world charms, such as original stonework, traditional tiles, and wooden beams, with contemporary design elements and modern amenities.
Investing in a rehab home in Portugal allows buyers to combine their love for heritage with the satisfaction of owning a fully updated residence. These properties are often located in picturesque towns and villages, offering a delightful blend of scenic surroundings and proximity to essential amenities.
With Portugal’s growing popularity as a desirable destination for living, working, and retirement, rehab homes provide an exciting opportunity for individuals looking to embrace the country’s vibrant lifestyle while enjoying the comfort and character of a thoughtfully restored property.
The article below will give a comprehensive overview of rehab properties in Portugal, with a variety of examples that potential buyers could expect to find.
The Portugal Golden Visa Program
The Portugal Golden Visa program came into force in 2012 and has been a popular way for expats to engage in property acquisition whilst also getting a residence permit for Portugal. The Golden Visa has been popular with international buyers who want to make a real estate investment.
The minimum investment amount for property is €350,000 for real estate in a designated rehabilitation area and €500,000 anywhere else in Portugal. Therefore, a real estate investment via the Golden Visa seems a good investment option, especially since family members can be included in the Golden Visa application.
Although the Portugal Golden Visa process also had other options available, the classic real estate investment proved the most popular. Portugal’s real estate market is perfect for real estate investment, as it offers a plethora of options. You’ll find modern and contemporary properties, commercial property as well as rehabilitation projects, which we’ll talk about in this article.
Many of the homes for national and international buyers are in a sought after location such as the Silver Coast but many contemporary properties and commercial properties are also in city areas. Renovation projects are mostly found in rural areas but also in an urban rehabilitation area.
A real estate brokerage can be a good option to find your ideal home, and they can also negotiate the property purchase price for you. It’s important to note that to qualify for the Golden Visa, even if you invest in a rehab home, you have to make the minimum investment.
Types of Rehab Homes for Sale
Rehab homes in Portugal come in all different conditions, sizes, and amenities. Some are in need of total renovation, meaning they need work on the interior and exterior. Others only require internal renovations and are structurally sound on the outside.
It’s worth getting thorough checks done by qualified experts, such as architects and structural engineers, as well as qualified surveyors, before you commit to a rehab property in Portugal.
Houses for interior renovation
Full interior renovation projects mean you can truly put your stamp on the house without having to spend too much time and effort on the outside and structural issues. Most of these properties are also already connected to water and electricity, so that’s another job you won’t have to tend to.
Prices for houses that will mainly need renovation and restoration on the inside depend on the location and size of the property. For example, a two-bedroom village house with original doors and shutters is on the market for just under €25,000, but its entire interior will need attention.
Those looking for a bigger property have got a variety of options when it comes to rehab homes. Buyers who want to only focus on the interior will find properties with three bedrooms for around €39,000, including a garden, an independent dwelling on the property land, and a balcony with views across the village and countryside.
Depending on the total size, prices for such properties can go up to €85,000 in the center of a small village, although some, with extra amenities, such as business spaces, may sell for up to €160,000.
Restoring a ruin can be a challenging yet rewarding endeavor, allowing you to bring new life to a neglected structure and preserve its historical value, if applicable. Before you commit to buying a ruin, we’d recommend you evaluate and plan ahead, so you’re fully aware of the condition of the ruin and can determine the extent of restoration required.
Ensure you have expert advice from architects, builders, and engineers, who can help with things like structural assessments, design considerations and provide valuable guidance throughout the process.
The price for ruins is determined by their size, any plot of land included, and the location in Portugal.
Some ruins in the countryside start from as little as €11,500, and you’ll be able to find a lot of ruins for under €30,000. Many of those include land and have the promise of a spacious final piece of real estate.
On the higher end of the price scale, you’ll find ruins, including land, for just under €170,000; those higher prices usually indicate large plots of land, which are ideal for those who can imagine using the land for farming or business purposes.
Bear in mind that restoring a ruin requires patience, perseverance, and attention to detail. It’s important to respect the original structure and work closely with professionals who understand the unique challenges of historic restoration. We’d also recommend that you check with experienced experts whether you need a building permit or planning permission, particularly if you’re buying land.
With dedication and passion, you can transform a ruin into a cherished and functional space that honors its past while embracing the present.
Portugal offers a great selection of off-grid properties that cater to those who seek a sustainable and self-sufficient lifestyle. These properties provide an escape from the hustle and bustle of city life, allowing residents to embrace a simpler, more eco-friendly way of living.
Off-grid properties in Portugal are typically located in scenic and secluded areas, surrounded by natural beauty and abundant resources. These properties should ideally feature renewable energy systems such as solar panels, wind turbines, or hydroelectric power, enabling residents to generate their own electricity and reduce their carbon footprint.
You may also want to consider water management. Many of these properties need to incorporate rainwater collection systems and sustainable water treatment solutions to ensure a reliable and independent water supply.
For some, this may seem like a huge undertaking, but with expert knowledge from architects, builders, and other contractors, your sustainable off-grid life is a real possibility. Best of all, living off-grid in Portugal offers the opportunity to cultivate organic gardens and engage in sustainable farming practices.
The abundance of sunshine and fertile land provides an ideal environment for growing crops, raising livestock, and embracing a more self-sufficient lifestyle.
You can find the land for off-grid properties for only €4,000, but be mindful that you’ll have to spend money on not just getting a building fully renovated and connected to utilities but that road access may also require some work.
If the work on a ruin is too much for you, some off-grid properties come already fully renovated and ready to be lived in. Expect to pay around €200,000 for these properties, which usually includes a sizable plot of land.
Agricultural land with ruins
Portugal offers a unique opportunity for individuals interested in agricultural land with ruins. These properties often combine the charm of traditional architecture with the potential for sustainable farming or gardening ventures.
The ruins can be restored into functional spaces for living, storage, or workshops, while the surrounding agricultural land provides fertile ground for cultivating crops or raising livestock. These properties allow expats to embrace a self-sufficient lifestyle, reconnect with nature, and take part in the rich agricultural heritage of Portugal.
Whether it’s a vineyard, an orchard, or a farming venture, agricultural land with ruins in Portugal presents a promising prospect for those who are after a harmonious blend of rural living and agricultural pursuits.
Prices for smaller plots of agricultural land start at around €6,500, but you can also find plots twice the size that are not much more expensive. It all depends on the quality of the land and the existing amenities. On the other end of the price scale, you will find existing agricultural properties where ruins have already been restored to full farm buildings.
Prices start from around €140,000 and can go up to €850,000, for which you can often expect an existing agricultural building and farming business.
Goldcrest: Who We Are and How We Can Help You
Here at Goldcrest we always have the best interest of our clients at heart to ensure the process of buying real estate runs as smoothly as possible. We’re working solely in favor of the buyers, and through a wealth of experience, we have extensive connections throughout Portugal, meaning we have access to exclusive properties and investment opportunities.
If you can imagine buying a property to restore and renovate, want to live off-grid or join Portugal’s farming community, then schedule a non-binding call with us.
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