With its gorgeous beaches, attractive and ancient coastal villages, Portugal has always been observed as a welcoming nation for individuals, and investors. However, amid the drop in the value of Euro which achieved parity with the US dollar, investing in the Portuguese real estate market has become more lucrative, and a win-win situation for those interested in having a Portugal residency or a Golden Visa. Are you looking for investment in portugal? Are you looking for the best return in exchange of your dollar? Get all your answers here in this article. Investors who have dollars to spend, now is the time to pull the trigger on it because buying a European property has become cheaper than ever.
But where are the best cities in Portugal for a real estate investment? The answer depends on the investors’ demands and preferences, as the country is home to a variety of tempting cities. While some investors prefer to purchase a property at the charming beaches of the Algarve or to stunning islands such as Madeira or the Azores for retirement reasons, others prefer to invest in popular and lively towns such as Lisbon, Porto, or Coimbra to open a new business leveraging from the stable economy, promising tourism and hospitality sector, prosperous start-up ecosystem, and tax-exemptions, among others.
5 charming destinations for real estate investment for Portugal residency
Lisbon: International hub
Portugal’s capital city is an admirable place for those looking for investment in Portugal. With its unique and rich history, and beautiful beaches Lisbon is considered a perfect choice for people seeking the buzz of an immense city. It is also popular among tech nomads and remote workers, due to the high-speed internet connection.
Lisbon is well-known as a safe and family friendly city, with mild temperatures, high-quality education system, and good public transport links. It is also home to Portugal’s most famous landmarks, cafes, restaurants, shopping districts, and thriving nightlife hubs. Real estate developers are providing a variety of new real estate projects across the city. Current law stipulates that only commercial properties in \’non-interior areas\’ such as Lisbon and Porto can qualify for Portugal\’s Golden Visa.
Investors can still snatch prime residential properties in the country\’s capital, albeit not under the Golden Visa program. Demand from abroad has helped bolster real estate prices in the city, according to the National Statistics Institute[1].
Trendy Porto
Porto is Portugal’s second city and most prosperous town located on the banks of Douro River. The city provides many housing options including luxury villas, apartments, and hotels, in the downtown, by the Ave River, and on the banks of the Douro River that suits all tastes and preferences. Porto is full of energy and life with a bustling cultural scene, and scores highly in green spaces, great healthcare system, modern and wide-ranging transportation system, as people living in it have at their disposal tram system, train station, a big airport, and a growing network of bicycle lanes.
The city is also known for its commerce streets, which matches tradition and modernity, as well as boasting restaurants, cafes, and bars, which cater for all tastes.
For investors seeking a Residency by Investment in Portugal, Porto has been considered very safe, and one of the best destinations for retirees to live. The cost of living in Porto is cheaper than most European countries. It is to be praised for its startup-eco system, as a growing number of companies are settling in the city.
Algarve: Stunning beaches
Located between Faro and Sagres, Algarve is considered the world’s leading beach destination. It is home to thousands of expats, as foreign buyers have been flooding to the city for decades for retirement. Almost 11,000 foreigners decided to live in the Algarve in 2019. Foreigners often target apartments close to the beaches, although prices are higher than other areas. Along with the stunning beaches, Algarve provides dozens of entertainment and nightlife opportunities to stay active from watersports to theme parks and huge range of clubs and bars.
The city is recognized for the high quality of life and family-friendly destination. It also provides 10-year tax exemption for international retirees. Individuals seeking residency in Portugal through the Golden Visa program can buy residential properties in certain part of Algarve or in commercial properties anywhere in the region. Such qualifying investment in Portugal commercial real estate include offices or hotel shares in some of the top hotel projects in Algarve starting from 280,000 Euros.
Braga: Best place to retire
Braga is one of Portugal\’s oldest cities and an excellent choice for people searching for a less expensive and smaller city than Porto or Lisbon. It is becoming more popular among expats who are looking to obtain Residency by investment in Portugal. Braga has an ideal situation, being just 30 minutes from the beach, 15 minutes from the mountains, and 40 minutes from neighboring Spain. It is also family oriented, with a diverse selection of schools. Braga had already been named one of the best places in the world to retire in, as well as one of Europe\’s happiest cities.
Overall, Portugal has a low cost of living, and Braga is less expensive than some other Portuguese expat communities. Consumer prices are 8.29% less expensive in the city than they are in Lisbon, while rental rates are a remarkable 49.42% less expensive. A three-course lunch for two at a midrange restaurant would often only cost 30 Euros, and there are many bars and restaurants in the city where you can get food for as low as 5 Euros per person. Because of this, Braga is an appealing alternative for both those looking for a cost-effective location to enjoy their retirement years and stretch their pension a little further and those who intend to work following their arrival.
Investors moving to Braga can find plenty of opportunities in tourism, IT, construction, trade and services sectors. Commodities such as water, gas, electricity, and internet are affordable and lower than Lisbon and Porto. The residents are exceptionally kind and open-minded, owing to the vast number of young people who study there.
Coimbra: Oldest educational institutions
Located halfway between Lisbon and Porto, Coimbra was Portugal\’s medieval capital for more than 100 years and hosts University of Coimbra (UC), the country\’s oldest and most prominent university, and well-known for its educational opportunities. For individuals with children who live in Coimbra, a variety of high-quality public, private, and foreign schools are available.
Coimbra has a well-established expat population and is extremely popular among retirees due to its low cost of living and great quality of life. Coimbra is another secure city with spectacular architecture and culture, in addition to a delicious local cuisine. The city is well networked, with cheap and plentiful inner-city bus routes, and train connections. Property prices in Coimbra are close to half the price of their Lisbon equivalents, and there are offering for all budgets.
There are many other popular locations in Portugal to consider such as Setubal, Chaves, Madeira, the Azores, and Aveiro. Investing in these cities will pave the way for obtaining Portugal Golden Visa.
Residency requirement
To qualify for a residency by investment in Portugal, individuals are required to invest in real estate in selected areas, or purchase and refurbish a real estate property older than 30 years located in areas of urban regeneration or invest in a property in a low-density area. Investors can purchase multiple purchases. Qualified applicants may obtain Portugal residency permits for themselves, their spouses, dependent children, and parents. Applicants receive their Golden Visas within 8 months of making an investment in Portugal and submitting an application.
For more information required about obtaining Golden Visa by Investment in Portugal, and the steps required, Please visit this page.
Reference:
[1]https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=539485430&DESTAQUEStema=5414344&DESTAQUESmodo=2