Portugal is a renowned tourist destination, and its real estate market has been booming in recent years. But what’s it like for foreigners to buy property in Portugal? The Portuguese government has been encouraging foreign investment in the country, and as a result, the process of buying property in Portugal is relatively straightforward.  Before you purchase a property you'll need to get a NIF number and a bank account.  Write us if you need help getting these.

It's highly recommended to engage a local lawyer to help with the paperwork.  While most agents in Portugal are trustworthy, some unscrupulous agents will sell you problematic properties which is why you need a good lawyer to verify everything is good.  Agents will do this work for you, but they are there for the sellers.  Lawyers are there to protect you.

Provided you have the necessary funds in place, the process should be relatively smooth.  Mortgages are also available to foreigners at some of the lowest rates in the world

The most popular areas for foreign buyers are the Algarve and Lisbon regions. The Algarve is Portugal’s world-famous coastline, and Lisbon is the capital city.

Prices in both areas have been rising steadily in recent years, making them attractive investment opportunities. If you’re looking for a holiday home, the Algarve is the obvious choice. With its stunning beaches, year-round sunshine, and relaxed lifestyle, it’s no wonder that the Algarve is such a popular destination. Prices here start at around €200,000 for a small apartment, but you’ll need to budget for €500,000 or more if you want a villa with a pool. If you’re looking for an investment property, Lisbon is a good option. Prices in the city have been rising steadily, and there’s a strong rental market.  The bigger cities are not as seasonal for short-term (holiday) rentals as they have traffic all year long so may have better yields.

You can find out more about the buying process, taxes paid, and documents needed via this Buying Property in Portugal & Taxation infographic.