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9 Things to Consider Before Buying Property in Portugal

9 Things to Consider Before Buying Property in Portugal

Buying property in Portugal can be an exciting investment, but it’s essential to approach it with careful planning and awareness of the local market. From legal requirements to hidden costs, here are five key things to consider before buying property in Portugal. I’m Lisbob, the expat’s assistant, here to guide you through what to know so you can make an informed decision!

9 Mistakes People Make When Buying Property in Portugal

9 Mistakes People Make When Buying Property in Portugal

Buying property in Portugal is an exciting step, but it’s easy to make mistakes that can cost you time, money, and peace of mind. From navigating legal paperwork to understanding the true costs, buying a home here isn’t always as straightforward as it seems. Before you dive in, let’s look at 9 common mistakes people make when purchasing property in Portugal—so you can avoid them. I’m Lisbob, the expat’s assistant, and I’m here to help you make a smart, stress-free investment!

Map of real estate prices in Lisbon and Porto

Map of real estate prices in Lisbon and Porto

Real estate prices in Portugal continue to rise and Lisbon continues to grow, as does Porto. In the third quarter of last year, the average value of homes sold in Portugal increased by 7% compared to the same period of the previous year, reaching an average of 1,054 euros per square meter. Since the crisis that hit Portugal hard, real estate prices continue to break records and some even speak of speculative bubbles about to explode. According to figures published by the INE (Instituto Nacional de Estatística), some districts have seen an increase of almost 40%, but some areas have seen their prices drop, especially in Lisbon! What is the price of real estate in Portugal? What are the cheapest areas to buy a house? Lisbob, the expatriate assistant in Portugal, gives you this map of property prices in Lisbon and Porto.

Lisbon pays 3 years' rent in advance to landlords who join the "Renda Segura" program

Lisbon pays 3 years' rent in advance to landlords who join the "Renda Segura" program

Lisbon property prices have been a recurring problem for those who wish to find accommodation there for several years. On the other hand, many owners are asking their tenant for concrete guarantees in order to cover themselves in the event of default. The Lisbon city council wishes to reconcile the two with its “Renda Segura” program: a rental housing program accessible for tenants, and a payment guarantee for owners. Some may even ask to receive 3 years' rent in advance. Lisbob, the expatriate assistant in Portugal, tells you all about this “Renda Segura” program in Lisbon.

60% of Portuguese real estate agencies predict a fall in prices

60% of Portuguese real estate agencies predict a fall in prices

Real estate prices continued to rise in Portugal late last year to record highs, but the coronavirus epidemic may well be a game-changer. At least that is what most real estate agencies think, according to a study by the Imovirtual site which interviewed hundreds of professionals in the sector. The expected drop is 25%, but some believe that prices will simply stabilize. Lisbob, the expatriate assistant in Portugal, tells you all about this investigation which does not bode well for Portuguese real estate.

Interactive map of real estate prices in Portugal, district by district

Interactive map of real estate prices in Portugal, district by district

Real estate prices in Portugal continued to rise in Portugal late last year. This is shown by data compiled by the Portuguese National Institute of Statistics (INE), which analyzed real estate transactions. Across the country, prices rose 8.5% in the last quarter of 2019, but the differences between cities are significant. The INE provides an interactive map that allows you to find out the price of real estate in each district and these in several cities in Portugal. The coronavirus is likely to stagnate or see prices fall, and this study corresponds to the pre-pandemic. What is the price of real estate in Portugal? What are the cheapest areas to buy a house? Lisbob, the expatriate assistant in Portugal, gives you this interactive map of property prices in major Portuguese cities.