PROPERTY IN PORTUGAL

Property in Portugal has for a long time been a popular investment for many people seeking a new life in the sun, its healthy climate makes it a good place for retirement, due to this demand real estate in Portugal has increased in value quite substantially but still remains good value. Anyone wishing to purchase Portuguese property will be spoilt for choice, modern apartments, town houses, large villas, and traditional houses in highly desirable locations with amazing views, property in Portugal that is for sale can be found in any number of estate agents and local newspapers. Whether you are looking for a new home, business or a plot of land to build your own, viewing real estate in Portugal is usually organized through the estate agent who will also accompany potential buyers. View as many properties as possible and make notes on each Portuguese property viewed, you would have to be very lucky to find the right property straight away.

Portuguese property is built to very high standards, which is what makes it more popular than other European destinations, strict building regulations has meant that property in Portugal has to be built to fit into its surroundings, in the early 70s and 80s many high rise apartment building were constructed which have spoilt the landscape in places. Buyers who wish to design and build their own homes will find some very good builders (Portuguese and foreign) who will assist in finding a plot of land to build your dream property in Portugal, buying land is the same as buying property in Portugal and must be done with legal representation. Planning permission must be granted before building takes place, land in rural areas can be bought for as little as a few euros per square metre, land closer to the coast can cost in excess of 200 Euros per square metre, prime locations will cost considerably more, the cost of building Portuguese property can cost less than buying a resale property depending on the quality of the materials used.

Real estate in Portugal can cost from as little as 50,000 pounds sterling for an apartment to 250,000 pounds for a luxury villa with a swimming pool depending whether the Portuguese property is on the coast or in a remote village. Rural property in Portugal in need of restoration can be purchased for considerably less than property along the Algarve which will cost considerably more due to its location. Although restoration projects can be quite costly, there are many foreign residents who have purchased real estate in Portugal as a retirement home. There is a selection of purpose built retirement property in Portugal (sheltered housing) with communal areas with swimming pools and sports facilities, anyone wanting to purchase property in Portugal should seek legal advice. As with any foreign country the process of buying property can be complicated especially if you don’t speak the language, those who have purchased Portuguese property using legal representation are very happy with their purchase.