Real Estate in Portugal

"We travelled extensively around Portugal, and although we wanted to live in the far north it was too cold in winter so we travelled further south and loved Tomar with its peaceful atmosphere, good connections, good shopping for my wife, good facilities and excellent access. We lived close by for 3 years," said one expat in Tomar.

"I first lived in an apartment near the University. You can never go wrong living around a large school. People tend to be more open to help. I eventually bought a proprty and built a four bedroom home in a quiet section of the city. The land was a bit more expensive than other areas but it was well worth it. If your going to build.... please watch your contractor closely and NEVER pay for anything up front, only for work that has been done. You can get yourself into trouble that way," remarked one member in Braga.

"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 expat who made the move to 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," explained one foreigner living in Braga, Portugal.

"Housing costs are lower here, but we're comparing a mortgage on a million-dollar plus condo in the US to rent on a 2 bedroom apartment with ancient appliances. It is easy to find a clean, modern, 2 bed/2 bath apartment with new appliances in the upscale, coastal Estoril/Cascias area for less than $2200/month if one works with a local realtor, and can cut those costs in about half in the smaller towns and villages inland. Utilities per month can add about $100. Internet service is about $30. On average, this feels like one can get a bit more with less but Portugal's Lisboa coast isn't a low cost choice. South and North and inland are less costly," said one expat in Cascais and Estoril.

"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," remarked one member 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," explained one expat living in Cascais, 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," explained one expat 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 person living in Matosinhos, Portugal (a suburb or Porto), 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," remarked one foreigner who made the move to 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," said one expat in Matosinhos, Portugal (a suburb or Porto).

"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.

"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," explained one foreigner living in Portugal.

"Expats can search for homes in Portugal by looking online for real estate websites that specialize in Portuguese properties. They can also contact local real estate agents who can provide information about available properties and help them find the perfect home. Additionally, expats can search for homes in Portugal by attending open houses and visiting the neighborhoods they are interested in. Finally, expats can also look for rental properties in Portugal by searching online for rental listings or contacting local rental agencies," said one foreigner living in 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," explained one expat living in Matosinhos, Portugal (a suburb or Porto), Portugal.

"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," said one person in Portugal.