5 great reasons for buying property in Portugal

With sun, sand, and sea in great abundance, it's not at all difficult to see the appeal of making a real estate investment in Portugal. However, these three pillars of luxury living are hardly in short supply across Europe – so why should Portugal stand out? Here, we take a look at a handful of compelling reasons why buying property in Portugal is so attractive.

Hamburg - Portugal is a smart place to invest in a second home. Find out why.

1. It's easy

Making Portugal your home, even if you're not Portuguese, is surprisingly straightforward: the Portuguese government has made it really easy to gain residency in the country. EU citizens can benefit from the nation's Non-Habitual Residence (NHR) regime, which grants you residency status without the need to live locally for the entire calendar year. Those from further afield can obtain a fast track to residency, given that they are willing to invest in the local area. This so-called "Golden Visa" programme isn't just great news for expats. The increased monetary flow that comes with the rise in real estate investment in Portugal is swiftly turning the country's major cities into vibrant hubs of economic activity, creating jobs and wealth for local communities.

2. Taxes are low

Portugal isn't just beautiful; it's also a financially intelligent place to live for people in certain income brackets. With income tax peaking at 48%, the economic environment in Portugal is favourable to numerous other prestigious European destinations. That's before you've even considered the abundant natural beauty and relaxed way of life.

3. Holiday lettings make sense

With an abundance of stunning coastline, some of Europe's best beaches and a fascinating local culture, Portugal's tourism industry is thriving. Thus we find another of the major benefits to investing in a second home here: holiday lets.

As your second dwelling, your Portuguese property may well be empty for certain parts of the year. If this is the case, you might consider doing holiday lets after buying property in Portugal. Short-term rentals generally yield an impressive return, while allowing you to retain control of your place for the majority of the year.

4. It's luxurious

If luxury living appeals to you, a real estate investment in Portugal is unlikely to disappoint. Not only will you find a wealth of stunning houses, villas and apartments on the Atlantic Coast, but there's also excellent infrastructure here for leading an opulent lifestyle too. The country is home to thousands of fine golf courses, first-class restaurants and charming beaches – three of the best reasons for having a holiday home in Portugal.

5. Portugal’s market for primary residences

Even aside from exclusive golf courses and sandy beaches, Portugal offers much potential for worthwhile property investments. The property market looks very promising, especially for primary residences. The prices for apartments and houses in the cities of Lisbon, Faro and Braga are experiencing a continuous rise. The unique setting and modern design apartments make Lisbon an attractive destination for investors. Porto, too, is developing into a first-rank European metropolis. The increasing property prices are an important indicator for this: here, prices have recently increased by up to 20 %.

Making a smart investment in a second home takes a good deal of research. It's not only about finding a destination that makes great financial sense; it's also a matter of finding a location that suits you and your way of life. For many people, Portugal ranks high in both senses.

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