Buying a property in Portugal

Kissed by the sun and lapped by the azure waters of the Mediterranean, Portugal’s southernmost region combines natural beauty with amenities – including some of Europe’s most popular golf courses -infrastructure, and an affordable housing stock, making it as practical as it is desirable. Rocky coves, scalloped bays, soaring cliffs, sea caves, surfing spots, and secret beaches – it’s easy to forget that there’s more to the Algarve than its stunning coastline. From inland towns to mountain villages, there’s a peaceful life to be found just a short distance away from the vibrant resorts – not to mention cheaper property prices. Here you’ll find places like Silves, nestled in a verdant valley on the banks of the Arade River and surrounded by fields of citrus.

If you prefer bustling to bucolic, popular seaside towns line the coast, like the region’s “Golden Triangle”, which includes the glitz and glam of Vale de Lobo, Quinta do Lago and Vilamoura. Golden beaches, Michelin starred restaurants, luxurious villas and world-class golf courses are par for the course around here.

Meanwhile, the rugged and less developed western tip of the region is home to an enticing microclimate that keeps it refreshingly cool during the summer months for its established community of expats. Bear in mind that its proximity to the Atlantic Ocean means it gets windy out west. The vast majority of the five million people who visit the Algarve each year do so via Faro airport, which is served year-round by budget flights from across Europe. Its position in the centre of the region’s coastline makes it easy to head east or west to your property once you land.

Lisbon is a city of seven hills from which you can marvel at its ancient ruins, terracotta rooftops, domed cathedrals and the Atlantic Ocean beyond. A stroll down from these peaks through the winding cobbled streets below uncovers Lisbon’s rich history – from the century-old wooden trams that still transport people up and down the city’s slopes to the baroque architecture of the picturesque city centre. This fascinating bygone heritage is just half the story. Once the sun sets behind the hills, Lisbon knows how to let its hair down, with Barrio Alto’s maze of narrow streets transforming into one of Europe’s most vibrant city centre hotspots. The hilly terrain, trams and a spectacular man-made feature have inspired comparisons with San Francisco – the 25 de Abril Bridge: a red suspension bridge connecting Lisbon to the municipality of Almada on the south bank of the Tagus River. Lisbon’s established reputation as a hub for startups and tech firms has created a thriving jobs market. This, coupled with growing interest from overseas buyers, has meant soaring demand and rising prices.

Perhaps you’d prefer to live in the suburbs away from the hustle and bustle, but close enough to commute in. For example, just half an hour’s drive away are popular coastal towns like Guincho, Adraga and Grande, making it one of the best city/beach destinations in Europe.

Edgy-yet-opulent Porto is no less attractive than Lisbon thanks to its narrow medieval cobblestone lanes, hillside bohemian districts, elegant avenues and slender townhouses painted in bright pastel hues or covered in azulejos (tiles). Not to mention its beautiful river valley setting where the Duro spills into the Atlantic, complete with its own world-famous suspension bridge – the Ponte Dom Louis.

No longer in the shadow of the capital, today Porto combines its natural and historic allure with its corporate appeal. The cranes that punctuate the skyline are testament to the building boom that’s been prompted by the many companies choosing to locate there. According to data from Numbeo, the average price per square metre to buy a city centre apartment in Porto in October 2023 was €2,650, compared to €5,650 in Lisbon – more than double.

Portugal’s largest region, which covers a third of the country, has a captivatingly diverse landscape. Located to the north of the Algarve, it includes a huge stretch of the nation’s rugged western coast, golden plains, rolling hillsides and lime-green vines. Its traditional whitewashed villages, marble towns and historic cities draw property buyers from far and wide. From coastal spots like Vila Nova de Milfontes and Zambujeira do Mar to Évora, a walled Roman city in the interior, the region’s urban areas are as varied as its landscape. Property buyers head there to live a quiet authentically Portuguese life away from the tourist hotspots. Rural renovation projects are in plentiful supply or if you’d prefer a farmhouse that is ready to move into, you’ll get plenty of change from a budget of €100,000.

The Costa de Prata – Portuguese for Silver Coast – is a vast expanse of golden sandy beaches and windswept seaside retreats that stretches for approximately 150 km between Porto and Lisbon. Also known as “The Real Portugal”, this laid-back, refreshingly undeveloped area offers a traditionally easy-going life. Caldas da Rainha is one of the most popular coastal destinations for prospective expats – a picturesque spa town that is just a short drive from Lisbon. Known as the Venice of Portugal, Aveiro is also attracting expats, as is the beach town of Figueira da Foz. Property prices are eminently more affordable here than along the Mediterranean coast to the south. Head inland from the invigorating sea air and ocean views and you’ll soon discover mountainous vistas dotted with lakes, rivers, remote hamlets and villages. Attractive towns like Leiria and Tomar have helped to build central Portugal’s growing reputation with overseas property buyers. Some of the biggest bargains can be found within this rural heartland.