Buying a Property in Portugal

Portugal property market overview

Since the early 1960s, Portugal, in particular the Algarve, has been one of the most popular holiday destinations from the UK and the rest of Europe and its southern coast has since become one of the best-known second home destinations for British and Irish property buyers. Intrepid property investors are now looking beyond the Algarve and buying property in the rest of Portugal, where fine beaches, unspoilt countryside, fascinating cities and, of course, some stunning golf courses.

• There is a wide choice of flights to Lisbon, Oporto and Faro at all times of year
• Buying Algarve property can be very expensive but other parts of Portugal offer much cheaper property
• The Algarve has some of the best sports facilities and golf courses in the world
• Portugal is a very popular holiday destination so property rental opportunities are abundant
• The government has already invested in infrastructure and has long-term strategies for development of “undiscovered” Portugal

Overseas home buyers from the UK and Ireland have been buying property in Portugal for many years, mainly heading for the central part of the Algarve coast in the south of the country. The superb beaches and developments, along with an abundance of cheap flights from UK airports, have attracted many British property buyers to buy property in Portugal and there is a large expat population of retirees whose most difficult choice in their twilight years is which golf course to play next.

There are some developments in the central Algarve, between Faro and Albufeira, which have been established for decades. Ever on the search for new property hotspots in Portugal, however, more intrepid buyers have been buying property further east and west along the Algarve coast, while the more adventurous still are looking north at the myriad property choices of the other coasts and the countryside of this beautiful country.

The western Atlantic coast, from the Costa Verde in the north to the Costa Azul in the south, has a wealth of natural beauty and a number of excellent resorts already, long-popular with the Portuguese and Spanish and now firmly on the overseas property buyer’s map. Inland Portugal has traditional rural homes galore, both dilapidated properties to renovate and restored, habitable homes – an entirely different proposition from a coastal new-build but an interesting option for those seeking a countryside home abroad.

In Lisbon and Oporto, Portugal has two cities of huge cultural and historical importance and there are a number of other towns and cities that might appeal to those looking for an urban home, such as Braga and Coimbra.

The archipelagos of Madeira and the Azores are wonderful island locations with some spectacular scenery, and are already established holiday destinations that will tempt some overseas investors.