Portugal has long been among the world’s friendliest and safest countries due to its affordable lifestyle, quality healthcare, and ideal weather conditions. For that reason, many have sought to secure real estate in the country, whether for investment, retirement, or vacation purposes. Are you searching for a Portugal property for sale? Then it is always best to know your options. In this article, we will go through the different property types in Portugal and which is best suited for your needs.
What property types in Portugal are for sale?
You’ll find four different property types in Portugal.
Around the world, villas are a symbol of luxury and refined living, and Portugal is no exception. You can often find them in picturesque locations, especially on the beachside. Villas are ideal, especially if you want to turn them into a real estate investment since you can rent them out to tourists. It is also an excellent investment for retirement purposes.
In Portugal, apartments have become a favored housing option, especially in prominent cities where land values soar. It offers a pragmatic solution to the demands of urban living, accommodating a more significant number of residents and access to amenities like gyms, pools, and round-the-clock security. These multifunctional spaces optimize living space and cater to modern lifestyle needs.
Townhouses are becoming a sought-after residential property option. With limited land spaces, these multi-story homes, characterized by shared walls, present an affordable and space-efficient alternative to typical houses. It is ideal for individuals who want to embrace city life, allowing residents to enjoy the convenience and affordability of living in urban environments.
4. Resort properties
Resort properties in Portugal are the ultimate escape experience. It is a luxurious accommodation showcasing the best of Portugal architecture, often with stunning natural landscapes and high-end amenities. These resort properties often offer hillside retreats, vineyard explorations, and access to the lush countryside, which makes for a great vacation experience.
How to buy property in Portugal in 3 steps
Buying property in Portugal can be summarized into three easy steps.
Step 1: Obtain a Portuguese Tax Number (NIF
Before buying real estate in Portugal, foreign buyers must obtain a Portuguese Tax Number (NIF) which you can apply for in any government finance office.
Step 2: Find the ideal property
Portugal offers a wide selection of real estate, including those listed above. While there are abundant options, finding a property that aligns with your preferences and investment goals may pose a challenge. Working with a licensed real estate agent, known as an imobiliaria in Portuguese, recommended by the Portuguese Association of Real Estate Agents (Associacao de Mediadores Imobiliarios), can help facilitate the process making sure it is legal and profitable.
Step 3: Finalize the sale
A notary witness must sign a real estate sales contract to finalize the sale. Generally, the buyer covers the notary fee. Additional documents include passports, purchase and sale agreements, land registration, and stamp duty.
Once you’ve bought a property, you can apply for the Golden Visa to acquire residency rights in Portugal.
With various choices available, it is always possible to find property types in Portugal within your budget, ranging from peaceful suburban dwellings to stunning coastal villas. Yet, for foreigners, finding their ideal home can prove to be a challenging endeavor. It is why we highly recommend enlisting the expertise of a trusted real estate agent who can navigate the complexities of the market, ensuring that you secure the ideal home for your investment needs.
Frequently Asked Questions (FAQs)
How to buy property in Portugal?
In sum, foreigners need to obtain a Portuguese tax number (NIF) and sign the Deed of Sale in the presence of a notary witness. To make it even more ideal, register the transfer of ownership in the land registry to protect your property rights.
Where to buy property in Portugal?
Portugal offers a diverse range of locations to buy property, including popular regions such as the Algarve with its stunning coastline, Lisbon for a vibrant urban lifestyle, and the Douro Valley, known for its picturesque vineyards. For cheaper options, you can find properties in the district of Castelo Branco or Aveiro.
What are the different types of houses in Portugal?
You can find various houses in Portugal, including traditional Portuguese villas known as moradias, townhouses, and apartments or apartamentos in multi-story buildings.