Real Estate in Portugal

Location, climate, and economy

Portugal (officially Portuguese Republic) is a state located mainly on the Iberian Peninsula in South-Western Europe. In the north and east it borders with Spain, and in the west and south it is bordered by the Atlantic Ocean. As a member of the UN and the EU, Portugal was also one of the founders of NATO, the Eurozone, the OECD and the Portuguese-speaking countries community.

The climate is Mediterranean, subtropical. The average January temperature is 5-10°C, July 20-27°C.

Portugal is a country with developed economies and a high standard of living. It is an industrial-agrarian country, whose main industries are: textile, light, woodworking, paper, petrochemical, mining, metallurgical, oil refining, chemical, fish, wine-making. Large enterprises of transnational and national monopolies dominate industry.

The market and real estate prices in Portugal.

The real estate market in Portugal continues to show significant positive dynamics, taking 8th place in the IMF ranking in market growth, experts of Europroperty say. Experts note that prices in the secondary real estate market are growing faster than in new buildings, and the number of objects purchased by foreigners has almost doubled. Political stability, low corporate tax, affordable tax incentives, developed infrastructure, favorable climate and good location also contribute to the attractiveness and security of the country's market, which is in great demand among investors. At the same time, Portugal is one of the resort countries with the cheapest real estate in Europe, but this does not apply to luxury housing in sea resorts.

The cost of real estate in Portugal

The average price of real estate in Portugal per square meter increased in the first quarter of 2022 by 3.5% compared to the same period of 2021 and amounted to 2094 euros. The spread of prices for apartments in cities is from 700 euros to 7-8 thousand euros per 1 sq.m. So, the most expensive real estate is located in the Lisbon area, followed by Cascais and Oeyrash. The cheapest cost of housing in the municipality of Forn de Algodres in Guard County, where the median price per square meter does not exceed 169 euros. Estimated price of real estate in cities and districts of Portugal (per square meter):

• Lisbon - 3427 euros;
• Cascais - 2 971 euros;
• Oeyrash - 2536 euros;
• Lola - 2 498 euros;
• Port - 2 264 euros;
• Mogaduro - 222 euros;
• Trancoso - 233 euros;
• Botikash - 227 euros;
• Penamacor - 229 euros.

According to Savills Impacts study in 2022, it is expected that the price increase in the Portuguese housing market will continue, so it is advisable to use up-to-date information at the time of request.

Real estate types for sale

Potential investors can choose the following types of real estate in Portugal:

• residential (apartments, apartments, houses, cottages, villas, townhouses, etc.);
• commercial (retail space, office premises, warehouses, industrial premises, etc.);
• Land plots.

We recommend using only expert information and following the instructions of specialists in Portugal. GEOLN.COM real estate website will help with this, since it presents the current catalog of trusted real estate in Portugal.

Buying real estate in Portugal by foreigners: the nuances of investing

The acquisition of real estate in Portugal is an opportunity to obtain citizenship of the country. This is a fundamental factor that helps to buy real estate in Portugal and take part in the state program Golden Residence Permit Program. To obtain a residence permit in Portugal, you must choose one of the investment options and purchase it:

1. Resort (elite) real estate in the amount of 500 thousand euros;
2. Real estate in regions with a low population density in the amount of 400 thousand euros;
3. Objects in need of restoration, built more than 30 years ago and located in areas of cultural and historical heritage, in the amount of 350 thousand euros;
4. 30-year old real estate in need of restoration, located not only in areas of cultural and historical heritage, but also in regions with a low population density, in the amount of 280 thousand euros.

Restrictions on the purchase of real estate for foreign citizens are that since 2022 it is impossible to obtain a residence permit for the purchase of residential real estate in Portugal in large and coastal cities, popular among tourists (Lisbon, Cascais, Porto, etc.). Foreigners are allowed to buy residential real estate in Portugal in the domestic regions of the country, as well as in autonomous regions (Azores). Commercial real estate is not subject to restrictions, it can be bought in any region of Portugal.

GEOLN experts carry out high-quality selection of real estate according to individual parameters and affordable prices. We recommend that you contact professionals who provide the preparation of the necessary documents, the comprehensive execution of the purchase and sale of real estate in Portugal.

Portugal, of course, is one of the best options for investment in Europe, since even against the backdrop of geopolitical uncertainty, rising inflation and increasing the cost of living, the market is characterized by stability and high profitability.

Buying real estate in Portugal is a reliable investment in a country attractive to entrepreneurs, investors and buyers seeking to obtain a passive source of income and European citizenship.