In the last decade Portugal has become a haven for foreigners looking to buy property in a country different from their own. This is due for many reasons including the popularity of the Golden Visa Program and the low priced real estate in many parts of the country.
In order to qualify for the Golden Visa Program you must invest €250,000 dollars in an approved property inside of the country, but what if you want something a bit more expensive. In that case you can pay a bit more and enjoy your second passport from Portugal while living in a gorgeous and luxurious villa.
For just €500,000 you can live in a beautiful property of your choosing in a gated community with all the amenities you can imagine. The price varies depending on the size of the purchased property and in which part of the country you desire to live in.
People from all over the world are making luxury property investments in Portugal and I believe this will continue steadily for the upcoming years. Portugal has a lot to offer foreigners with its unique cities, position in Europe, and its incredible tax rebates that make it possible for you to move your company inside of the country.
Besides the fact that purchasing luxury real estate in Portugal gets you on the path to obtaining a citizenship and a second passport, another great reason to do this is because it is a fantastic investment opportunity with great returns.
The Portuguese real estate market has been on the rise in recent years and you can expect this to continue going up. This is mainly because of the high demand for property in the country and because the companies behind the luxury real estate have a fantastic reputation.
Some of these companies have a waiting list of high net worth individuals ready to purchase a villa or a castle when it becomes available. The most sought after locations to purchase luxury real estate in Portugal as of the writing of this article are located in Lisbon and in the West Algarve, but every important city has something unique and different to offer.
Average costs of real estate in these areas are; €3,500/m2 in the Western Algarve and €7,500 in the capital city of Lisbon. Of course, the prices widely depend on size and where you want to purchase.
Purchasing property in Portugal as a foreigner is extremely easy and mostly obstacle free regardless of the value of the property. If your plan is to obtain a second passport by doing this then there are a couple other steps you must do, but nothing out of the ordinary. Besides all of the normal documentation you will need to purchase property you will also need to show documents that prove that your finances are in order. You must also include proof that you can purchase the property and a clean criminal record.
Foreign investors from all over the world are realizing that buying luxury villas and castles in Portugal is a safe investment.