Real Estate in Portugal

"By cost and internet posts on Idealista. I had 10 days to get an address. Price was a big concern. I looked at 3 listings, 1 in Porto and 2 in neighboring Gaia. I chose the bigger place in Gaia. It was the right size and price. I was lucky that the Remax agent was honest and super helpful and spoke English! It is a good place in a nice neighborhood. Do your research beforehand and have representation, preferable an honest attorney," said one expat in Porto.

"We came to Portugal last year for 2 weeks. We explored two areas only: first, the Algarve and next, Lisboa. These selections were based on weather, as we didn't want the colder weather in the North of Portugal. The Algarve is dead in winter, congested in summer, and just stuffed with Brits. The Lisboa area was delightful but we were sold when we took a train from Lisboa to Cascais. This is ideal: generally reliably nice weather, pristine beaches, restaurants all over the narrow streets and squares as well as along the pedestrian esplanade along the ocean. An easy train ride into Lisbon any time you want more culture or diversions, while plenty of museums, shows and parks in the Estoril/Cascais area. IDEAL," remarked one member in Cascais and Estoril.

"I live in a single family four bedroom home. To be honest I don't really know of any US expats in my area. The people up north are very friendly, so most of our support circle is Portuguese," remarked one member in Braga.

"We rent a condo. Yes, most of our expat friends have done the same, although, as it turns out, our landlords are also expats who own several condos and a single family house that they live in," explained one expat living in Porto, Portugal.

"We are in a mid-rise condo building, renting a 2 bedroom apartment. We scoured all of the online sites, and fortunately took the advice of the owner of a holiday rentals site (Portugal Portfolio) to rent through her for 1 month and take that time to look around. This resulted in us finding our current home that we'd have never known about, at a better price, and ideally situated in an area of both local residents and holiday-renters, with every amenity within walking distance. We have no car--we walk to the market, beach, restaurants. We rent a car for excursions further away, as we are visiting every part of Portugal that we can, taking a trip every few weeks," said one person in Cascais and Estoril.

"The average cost of housing in Portugal is generally considered to be quite reasonable. Prices vary depending on the location, size and quality of property, but most one bedroom apartments in the city centre cost between 500 and 700 euros per month, while larger family homes can start at around 1000 euros. Rent prices are generally cheaper outside the cities, and Portugal's extensive coastline means that beachfront properties can be slightly more expensive than inland properties," explained one expat living in Portugal.

"I am renting an apartment. It was difficult at first because a number of realtors didn't show an interest in helping me. When I found the right realtor, it went fairly easily. The biggest issue was having to pay for an entire years rent due to having no family in Portugal. There is also a scarcity of rental properties that are long term rentals," said one expat who made the move to Cascais.

"Deciding whether to buy or rent a home in Portugal depends on your personal budget, lifestyle, and goals. If you are looking for a more permanent living situation and a long-term investment, purchasing a home in Portugal could be a great option for you. On the other hand, if you are looking for short-term accommodation or want more flexibility, then renting a home may be the better option. Ultimately, the decision between buying or renting a home in Portugal should be based on your individual needs and preferences," explained one foreigner living in Portugal.

"Last Fall, we looked in Cascais and other costal towns near Lisbon and in the Algarve. We did purchase a property. Since then, we learned a few things that may be helpful to you. 1. There is no MLS equivalent. Different companies have different sources of properties for sale. 2. Work with more than one real estate agent at the same time. 3. Make sure your agent is licensed. 4. If looking at other than new construction, check for mold and mildew build up, insulation adequacy, Heating and a/c availability. All new construction we looked at was well built and majority had a/c. 5. It doesn't hurt to make an offer, even if the real estate agent says the owner won't sell below list. One thing you might do is purchase health insurance for your trip. Your US health insurance most likely won't cover you. Something you need to check. We ended up buying GeoBlue (tied in with Blue Cross) for our stay in Portugal," said one expat in Portugal.

"When buying property in Portugal, it is important to know about the Portuguese tax system, as this will affect both the costs to purchase and the costs to maintain the property. In general, both foreign individuals and businesses will be liable to pay tax on capital gains from the sale of a property and on rental income produced from property rentals. It is also important to familiarise yourself with the local laws, particularly concerning the registration of property after purchase. Additionally, due to Portuguese laws on foreigners buying property, you may need to obtain a Portuguese tax identification number, or NIF, to make your purchase. Finally, due to the legal process involved in purchasing property in Portugal, it is strongly advised to consult a professional legal advisor to guide you through the process," said one foreigner living in Portugal.

"Understand what is and is not including in the price. It is common for sellers to take appliances, light fixtures, and much more with them if it is not listed in detail in the offer. Be patient. See many properties to understand the market. It's nearly impossible to do a market analysis of the asking price since historical sales are not easily known. When you find something you like, move quickly. No two sellers are alike. Some are highly motivated and will negotiate. Many will not budge. In Portugal you are basically buying the property "as is." Inspections are almost unheard of. Be prepared for unexpected expenses and repairs after closing," explained one expat living in Matosinhos, Portugal (a suburb or Porto), Portugal.

"Yes, foreigners are allowed to own property in Portugal. Non-residents are able to purchase property in Portugal without any restrictions, and the process is relatively straightforward. The Portuguese government has made it easy for foreigners to purchase property in Portugal, and the process is similar to that of a Portuguese citizen. The only difference is that non-residents must obtain a tax identification number from the Portuguese tax authorities before they can purchase a property. Additionally, non-residents must also open a Portuguese bank account in order to complete the purchase," said one foreigner living in Portugal.

"None that I am aware of. The only unusual thing is if you want a mortgage. Most lenders require a mortgage to be paid off by age 70 (some a bit older) so it doesn't help most folks buying at retirement age. We did a cash purchase so everything went quickly from offer to closing in about 3 weeks," explained one expat living in Matosinhos, Portugal (a suburb or Porto), Portugal.

"Many rental properties in Portugal come with a range of appliances to make life more comfortable, such as a refrigerator, stove, and washing machine. The kitchen may also include a dishwasher, cooktop, and oven to make cooking and entertaining more enjoyable. Depending on the property, air conditioning and central heating may also be included. Other common appliances typically found in rental homes in Portugal include a fan, television, microwave, toaster, and coffee machine," remarked one foreigner who made the move to Portugal.

"There is no MLS in Portugal. You need to search a wide variety of consolidating sites (idealista.com) and individual real estate firm sites (Re/Max, K-W, Lars Sonho, etc.) You also want to talk to people in cafes and shops. Many properties sell by word of mouth. We worked with a Re/Max agent in Matosinhos who is herself an expat and specializes in the special needs of expat buyers. Her name is Fabiola Verissimo. She was worth her weight in gold," wrote one expat who made the move to Matosinhos, Portugal (a suburb or Porto).

"There is no MLS equivalent. Different companies have different sources of properties for sale. Work with more than one real estate agent at the same time. Make sure your agent is licensed," explained one foreigner living in Portugal.