Are you looking for a place to buy a retirement home, holiday home or invest in a commercial rental property? Look no further as Portugal is one of the best property markets in the world. There are a lot of key benefits that you will reap by acquiring property in the country.

First, you are spoilt for choice on whether to live in the city or countryside. New arrivals in Portugal are also afforded tax relief for up to 10 years. Property in the country is also quite affordable as compared to other European nations. Also, the cost of living in the country is low. It is also one of the most well-connected countries to other world parts. In addition, Portugal ranks among the best expat-friendly countries in the world.

You must be certainly keen on owning a part of such a beautiful place. The million-dollar question is, where do you exactly buy? If that is your worry, keep calm as we have got you sorted. Here are the top 10 places to buy property in Portugal:

1.Lisbon

Owing part of Portugal’s capital is without a doubt an exciting prospect for anyone. This is one of the few places on the planet where there’s the perfect blend between old and new. The historical city is beautified by beautiful architecture from the olden times. You will nonetheless not miss out on new infrastructure as it has always been a city under development.

At present, it is a tech hub that has availed plenty of work to people of all walks of life. You do not have to speak Portuguese to fit into the city. The streets are also picturesque, with different types of shops lined up in all parts of the city. All you need is to choose which part fits your budget.

 The city is large, and property prices are also varied depending on the location. For example, the average property price in Chiado and Príncipe Real is €10,000 /m2. Not all places in Lisbon are highly priced. you can find property with as low as €8,100 /m2 and €7,500 /m2 in Parque das Nações and Campo de Ourique respectively.

2.Cascais

If you like living near the sea, Cascais should be your ideal place to buy property. Like Lisbon, it is one of the most storied places in Portugal. It also offers you the ideal balance between a city and a rural area. The proximity to Lisbon and the quietness of Cascais is one of the key drawing factors for many people.

There is also access to reliable warm weather and a wide array of foods. It is also one of the most expat-dominated places in Portugal, and thus there is cultural diversity. It is one of the most beautiful sea cities in the country with so many beaches. Property prices are also relatively lower as compared to Lisbon.

3.Porto

If you are a city life enthusiast, Porto is the ideal place for you. It is easily accessible from the UK despite being approximately 300 kilometres from Lisbon. Compared to other cities in the EU, the property rates in Porto are relatively low and affordable. If you intend to buy to let, Porto is one of the places where such a trade thrives best. Also, you can choose to live in the rural area of Douro valley, which is well connected to the city.

The weather is also ideal even though Porto is a rainy city. You are at least assured of sunshine for approximately 7.5 hours a day.

4.Coimbra

A city in central Portugal, Coimbra is rich in ancient architecture. It also hosts the oldest university in Europe, created in 1290. It is undoubtedly the most culture-rich city in Portugal. And that’s not all. When you buy property here, you will have unlimited access to other major cities like Porto and Lisbon. Despite being positioned strategically between Porto and Lisbon, the property prices here are pretty affordable. You can buy a farmhouse cheaply or secure a four-bed house at €210,000.

5.The Algarve

Sealife enthusiasts should consider buying property in this area which is highly popular with UK ex-pats. There are numerous beaches here coupled with a fresh supply of seafood. It is also easily accessible from the UK as it only takes 3 hours by air. The property prices are also within the affordable range. For example, a two-bedroom apartment is priced at €150,000. A two-bedroom townhouse, on the other hand, goes for approximately €200,000.

6.The Silver Coast

If this name makes you think of a place located at the coast, you are right. This is a unique coastal town characterized by temperatures going so high in the summer. It is a popular alternative to the Algarve especially given its proximity to Lisbon, Coimbra, and Porto. Also, compared to Algarve, it is cheaper, which does not mean that it is less attractive. In the summer, tourists flock to The Silver Coast in masses. This makes it ideal for a holiday home or tourist attraction site.

7.The Alentejo

This place is as popular among ex-pats as the Silver Coast or Algarve. Nonetheless, it is one of the best places to buy property in Portugal. The Alentejo boasts of temperatures that can rise as high as 40 degrees in the summer. You must also be set for freezing winters. All in all, it is a nice rural locality to set a home. Property prices in key areas in the Alentejo, such as Portalegre, are around €80,000 for village homes.

8.Chaves

If you are looking to settle in the northern part of Portugal, Chaves is the place to buy property. It is near the Spanish border, and the area is mountainous. This means that the temperatures are cool all year round. The property prices are also relatively low. Here you are assured of enjoying the ideal rural environment with cool summers.

9.Madeira

Madeira is among the most popular Portuguese islands with a subtropical climate all year round. It is thus ideal for recreation facilities and hotels. If you want to own property in this area, consider Lido and Praia Formosa, which are ideal tourist attractions.

10.Porto Santo

If you are a prospective property buyer looking to buy low and sell high, this island offers you that chance. Unlike Madeira, which is famous for mass tourism, Porto Santo is yet to receive that wide acclaim, and thus the property prices are quite low.

Final Thoughts

Buying property in a foreign country can be a strenuous undertaking, especially for first-time investors. There is a lot of work that begins with searching for the property to complete the final purchase. We understand that you may not know how to do all these or even lack time to get things done. That is why we are here to assist you. Contact our property experts at Mortimer’s International, and we will get everything done from the start to the end at a very affordable rate.