Investing in real estate for the portuguese golden visa

How to invest in real estate for the golden visa in Portugal 

Portugal offers a wide range of visa options for non Eu-citizens and is a pioneer in Europe in modern immigration. One of the most popular options is the so-called golden visa Portugal. The program was changed in 2022 and many investors are now orienting themselves where and how to invest in real estate that meets the program’s requirements but also gives lucrative returns during the minimum investment period.

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What changed and where can I invest?

The purchase of a habitational real estate in Portugal  of at least 280.000 EUR will be valid for the program if it is in the Autonomous Regions of the Azores and Madeira or in the interior regions. You can also verify the areas of low-density on our site. You can still invest in service real estate (hotels, offices, restaurants etc.) in the cities or the coastal regions after 2021.

Why invest in real estate for the golden visa anyway?

The real estate market in Portugal is considered one of the most attractive markets in Europe because of its excellent price structure, growth rate and return opportunities. 

  • The prices are constantly growing on a healthy level between 6-12% depending on the area and the type of construction. So even if you buy an average property you can benefit from a good value appreciation 
  • The investment prices per square meter are one of the lowest in Europe with an average price of around 1400 Euros per square meter. 
  • The rental market for long, mid- or short term renting in Portugal is excellent. In 2019 there was an all time record of 26 Mio. tourists which most likely will be broken by the end of 2022. Like in other countries there is a huge demand for rental properties. Long term renting usually grants a year’s return of 6-8% and touristic renting is even more lucrative with 12% and more. 

Golden visa package offers

If you consider buy a “golden visa package” you should get an independent lawyer and analyze the actual contract (not the marketing flyers) with respect to important key questions:

  • Who is actually guaranteeing a payback option? What happens if that company is insolvent? How long does the company behind the guarantee exist in the market? How much capital do they have? What happens if a limited company is insolvent?
  • What is actually guaranteed in the buyback option? A return of the overall investment (including renovation costs) or just the real estate value?
  • How can you resell the property? If it is a “propriedade plural”, what are the special laws behind these investments?
  • When is the earliest moment for me to resell?
  • Is there a market for these kinds of investments beside the golden visa market?
  • What returns are actually guaranteed and when are they paid – right away or after the construction is finished?
  • Can I associate  renovations costs to my real estate investment or do I have to tax the potential sales price and the price for the real estate without renovations as profit?

What are the best options in the Portuguese real estate market for the golden visa?

In general we recommend purchasing a property out of the normal market which offers more than 500.000 estates each day and you can benefit from the advantages listed above. Idealista is a great platform but only shows a small part of the overall market as you have to pay to publish on the platform as a professional broker.

The following suggestions are for mere investors that do not want to live in the properties themselves but want to optimize their investment in terms of value appreciation, returns, resell timing. 

Buying holiday houses: Buy an old house eligible for the renovation route 280k or buy a house for 400k and more without renovation in Geres, Douro Valley, Alcacar do Sal, or Aljezur. In Aljezur the 400k is more reasonable in comparison the the local market prices.

Buying holiday apartments: Invest in two holiday apartments with a service license at the Algarve for a total 400k. You can also purchase an apartment for around 220k and then invest 60k for a 280k investment route. There are many touristic complexes at the Algarve that fulfill the requirements for the golden visa investment in non-residential properties.

Buying normal apartments: Due to the lack of housing especially in the middle tier cities you can invest in normal residential apartments and rent them either to tourists or locals. There are many cities like Vila Real, Chaves, Braganca, Castelo Branco etc that offer a good renting market and fast resale periods.

Buying offices: In Porto, Lisbon, and Braga there is a strong demand for good located offices. You can buy 3-5 office the the cities and invest a total of 500k being eligible for the golden visa.

If you have any questions about the information or if you like to use pur buyer’s agent service to find the fight property for you in Portugal, please contact us!

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