Portugal lies on the southwestern edge of the Iberian Peninsula, where the Pacific Ocean’s waves hammer the coastline. The country attracts would-be homeowners with a seductive blend of seaside towns, unbridled nature, and cosmopolitan attractions. The country boasts a low cost of living compared with similar destinations in Europe – another reason investors seek property there.
A variety of exciting properties populate bustline cities like Lisbon and Porto. Some buyers prefer the culture hum of famous cities, but according to real estate experts, smaller municipalities offer looser regulations and are less expensive. A reliable transport system provides city dwellers with a carefree escape to coastal towns.
Entrepreneur and real estate developer Luis Horta e Costa recommends that new property investors stay open-minded when choosing their Portuguese locations. As the co-founder of Square View, a real estate property developer and asset manager based in Lisbon, Horta e Costa knows that bigger isn’t always better.
Metropolitan regions are ripe for buyers with deep pockets. Still, bargain hunters should look to areas located off the beaten path to the eclectic villages that make Portugal so charming, including authentic fishing villages, towns filled with pastel-covered homes, and fairytale palaces.
“We try to avoid the complicated city halls,” Luis Horta e Costa says. “We have a problem in Portugal about bureaucracy, which is tough.”
Luis Horta e Costa Recommends Buyers Understand Different Types of Properties
Portugal’s gorgeous landscape and temperate year-round weather, improved with attractive tax packages, are undeniably alluring. The properties currently available in Portugal include sleek condos in glitzy cities, slower-paced holiday homes in charming seaside villages, and everything in between.
There are Portuguese names for buildings that one must know before getting serious about a property purchase in the country. It’s beneficial to understand the different terms used in Portugal’s property listings, as they can be unique to this country.
Native Portuguese speakers call a semi-detached house “casa geminada.” A “casa” or “moradia” describes a detached home that might include a backyard or a patio surrounded by a small wall with a front gate. Portuguese speakers call individual apartment units that share common areas “condomínios” or “condos.” While they can be pricey, “condomínios” or “condos.” offer a higher standard of care and safety. Rustic houses or farms are called “quintas” and are typically located inland in more rural regions, though some are in suburban areas.
A Land of Easy-to-Find Housing
When daydreaming about Portugal’s rugged Atlantic coastline, winding roads, and green valleys, many homebuyers consider owning a villa the pinnacle of the dream. Villas are spacious properties that make perfect family homes or holiday homes; Portugal has no shortage of available villas.
Whether a real estate investor seeks traditional or contemporary, the space must be available at different prices and suit everyone’s preferences and budget.
Portugal buyers choose apartments if they want to live there permanently or for selected months of the year. Townhouses, an alternative to the typical villas and flats found in Portugal, offer a similar amount of internal space as villas. Still, they are missing the wide-open external area of a garden.
If you still want the luxury of swimming pools and terraces, you can search for a townhouse with communal facilities. These are ideal for those who want a “lock and leave” property; there is no outdoor maintenance fee, as the monthly condominium fee covers it. These properties are still excellent if you want to use the property seasonally and if you are buying to let.
There is a massive market for renting out townhouses, so investing in such property is a safe bet. Resort properties are also a viable option if golfing, or leisure complexes are a reality in November.
Specifics of Bedroom Size and More
In Portuguese property ads, the number of bedrooms is written such that a T1 is a one-bedroom apartment, a T2 is an apartment with two bedrooms, and a T0 is a studio apartment. When there is a +1 after any of the T’s, this means that this is a two-bedroom apartment with an extra room that doesn’t have a window.
Terreno means land, which investors can purchase reasonably in Portugal, where many trustworthy development companies in Portugal help foreigners build their dream homes. A potential property owner must double-check at the Câmara Municipal to ensure the land is registered for the correct usage.
At Square View, Luis Horta e Costa is developing inspirational projects in beautiful destinations all over Portugal and riding the wave of real estate success. He has plans to create new properties that will awe those around him.
“The future for Square View is to grow,” Luis Horta e Costa says. “Not very much. We don’t like to be the biggest, but we like to be the best.”