How to choose and buy property in Portugal
The cost of real estate in Portugal varies greatly depending on the region in which it is located. The average cost of an apartment in Portugal is 1500 – 2000 euros per square meter, depending on the location of the object. Real estate in the northern regions of the country is somewhat cheaper. The most expensive real estate is in Lisbon, as well as the neighboring areas Cascais and Estoril where the cost per square meter can be up to 9000 euros per square meter. In the south of the country, in the Algarve region, there are also expensive places, such as the Golden Triangle, where the resorts of Vale do Lobo, Quinta do Lago, Vilamoura and Pine Cliffs, but in general the Algarve region can also find more affordable housing near the sea, costing 1000 – 2000 per meter. Here you can see the prices of real estate in Portugal.
Many people, including me, are attracted by the fact that Lisbon is simultaneously a big European city (almost 3 million inhabitants with suburbs) with a large international airport, metro, popular soccer teams with big stadiums, cultural diversity (Brazilian rodisio buffets are my personal weakness…) and other attributes of a big city. But, on the other hand, Lisbon is a lot of parks, beaches, a big forest park almost in the center of the city. It is a big enough city for it to never be boring and small enough to be comfortable.
In Portugal, no one rushes anywhere, in general, like in many southern European countries. If you can’t find an auto mechanic for a week it’s okay, don’t worry, it’s not about you. When I asked for help with some documents when moving and tried to do them quickly they gave me this sound advice: “Just take your time, in Portugal all problems are solved with time and patience.
On the other hand, if you treat the local culture and language with respect, in most cases they will meet you halfway and help you. This goes for the local bureaucracy as well as everyone else around here. It’s interesting that literally all over the city, just on every corner, even in the bedroom communities, there are cafes where someone is always sitting and having a coffee. Patience and time…
The geographical location of Lisbon disposes to travel: to Brazil to fly for about 7 hours, to New York for about 8 hours directly to Morocco, Italy, France, Britain 1.5-2.5 hours flight. Spain is not far away, you can go to Seville on weekends by car. Now of course all this is not very relevant, but someday everything will return to normal and low-cost airlines will again fly from Lisbon to all these destinations.
Now for the sad part… real estate. Renting in the center of Lisbon is either expensive or very expensive. A two-bedroom in the center for €1,000 won’t surprise anyone. This 55 square meter triplex in the city center rents for €900 per month + bills.
Another advantage of Portugal is quite liberal immigration laws. For those who work remotely, it is possible to obtain a “freelance visa”, more about which you can read here. The main requirement is at least €700 per month of official income from remote work. Here is a link to a detailed video on this topic.
For those who plan to live on a capital income, the most interesting will be the D7 visa for financially independent immigrants. The basic requirement is €700 per month per applicant or about €1,000 per family. Passive income can be dividends, bond coupons, rental income, or even royalties from the use of your intellectual property. Immigration on such a visa leads to the right to apply for citizenship after 5 years of residence in Portugal. You can get a combo – a comfortable and inexpensive residence in a warm country that leads to a European passport.
In my opinion, this is a great opportunity, in most other countries of the European Union you need to make a significant financial investment to get a residence permit and then citizenship.