Portugal Real Estate

Portugal real estate is a study in diversity. The breath-taking landscapes of the traditional Trás-Os-Montesand and Minho to the north are very rural and a complete contrast to the splendid sandy beaches of Algarve to the south. Algarve enjoys the benefits of the warm Mediterranean sun all year round and is rapidly turning into a popular holiday destination among the other Europeans who wish to escape the cold winters.

Attractive Portugal real estate

Portugal real estate is increasingly becoming the most popular among countries in Europe for those retiring abroad or looking to buy a second home and property prices are booming, particularly in the south. One of the most tempting attractions of Portugal real estate is the excellent climate that is influenced by the Mediterranean on the south coast and the Gulf Stream on the north coast. Portugal has still managed to retain its easy-going relaxed pace of life and its unspoiled scenic beauty whilst still managing to keep pace with its European neighbors. Portugal real estate offers investors a vast variety of property from town houses and holiday homes apartments of different sizes.

Things to consider

Portuguese authorities have resisted the urge to encash on this property boom and they have very strict laws in place to preserve the scenic landscapes of Portugal real estate. Licenses for property development are carefully considered before permission is granted.

The most popular tourist destination is the Algarve, which is famous for its marinas, sandy beaches, golf courses and fishing activities. The Algarve is very family-friendly and attracts sun –seekers from all over Europe. It offers visitors and residents a wide selection of cuisine at its many restaurants and a huge array of swimming pools, tennis courts and golf courses for those looking for more leisure activities.

The Duoro region is well known as the port-making region of Portugal. All the famous ports that are exported from Portugal come from this region. Duoro offers a different kind of Portugal Real Estate with its beautiful countryside, breathtaking scenery and relaxed, friendly atmosphere.

Buying Portugal real estate

You need to take a lot of care and time when buying Portugal real estate so that you avoid making any expensive mistakes. Foreign investors buying Portugal real estate need to be especially careful and it is advisable to take legal advice from independent solicitors or other qualified professionals. Check out the various administration fees before buying any Portugal real estate as stamp duty and legal fees are higher than most European countries. Get all legal documents translated from the local language into your own language before signing any papers or parting with your money. Make sure that building permits, sales documents, building registrations and property title are in order before committing to it.

Foreign investors need to obtain a fiscal number and a tax card from the Portuguese authorities before investing in any Portugal real estate. Many banks or estate agents would gladly permit you to use their address to facilitate matters. Surveys are necessary and cost approximately EUR 1000.