The Portuguese Real Estate market has gone from strength to strength over the last five years after seeing the introduction of the Citizenship by investment Portugal also known as the Golden Visa Portugal. In 2019 investment from foreign property buyers amounted to 34 Billion Euro (Cushman & Wakefield)

This has created thousands of jobs and an influx of foreign-owned businesses. Lisbon has gained huge traction in the technology and internet-based start-ups with a largely young and educated work base who speak English and are eager to work. Wages are relatively low in Portugal for the talent you can hire, thus creating a perfect environment for European firms to expand into Portugal, often giving them a gateway into other Portuguese speaking countries.

Another growing sector is student accommodation investments which also comes with various government income tax exemptions, and as universities can be found all over the country, this opens up cheaper areas of the country for investment which will often result in high rental yields.

We also see growth in investment funds and group purchasing buildings for sale in Lisbon and Porto for the purpose of renovation into Coworking commercial office space. This often results in high yields and added value in the building resale value.


The renovation building sector has also seen a considerable boom in the historic cities of Lisbon and Porto as investor look to renovate stunning 18th/19th century assets sometimes to qualify for the 350,000 Euro rehabilitation Golden Visa or simply to make profits.

In 2020 the forecasts have been adjusted to account for the COVID-19 virus in Portugal and Europe, but demand for future holidays and investment seems to be building up for a big bounce-back later this year. Low-interest rates for investment and the ongoing popularity of Portugal will secure a bright future.

The EU commission state that the Portuguese property market is in its seventh year of growth and growth is forecast into 2021 across the Portuguese real estate sector.


For property investment in Portugal and purchase of a Golden visa, cash remains king for both negotiations and winning the bid. Banks have scaled back foreign lending until the market is more stable. The low-density regions that qualify for the Portuguese Golden visa are yet to be changed. We are awaiting an update on this later in the year. It is not 100% that Lisbon and Porto will be taken off the table.

The current top low-density areas for Golden visa include places like Faro in the Algarve and other inland areas, also North of Lisbon the Silver coast Leiria, Braga Coimbra. And south of Lisbon Setubal offers many nice towns. But let us wait and see what is decided by the government.


Over 20,000 investors have obtained Citizenship by investment in Portugal since 2012. This amounted to 500 million euros in the first half of 2019.


Another growth sector is the NHR Non-Habitual Tax Residency Portugal designed for foreign pensioners who often prefer to buy houses and not rent. They benefit from double tax exemption and pay no IRS taxes. Please review our NHR Q&A article for more

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