BUYING PROPERTY PORTUGAL

Pearls of Portugal sees itself as a strong and fair partner for property investors in Portugal. Their corporate philosophy is based on three core values: Personal - there is no “one size fits all”. They always want to present you with the service that suits your personal expectations and wishes the best. Trust – they do not want to offer you an artificial show or talk you into a purchase. They offer honest and authentic services. Trust is the fundamental basis for a constructive partnership. Long-Term – They are not looking for fast money. They are interested in a long-term partnership with you and offer their support long after the actual purchase. Moving to Portugal is most cases not a mere financial transaction. It is a dream that comes true, a new phase in life, a second home, a retreat for the family, and so much more. Pearls of Portugal has a mission to make steps transparent, risk-free, and effective as possible. They can help you if you want to buy real estate, rent property, help with construction services, visa programs, and so much more. Visit the Pearls of Portugal website at https://www.pearlsofportugal.com/useful-information/buying-a-property/ to contact them today!

Now that you know more about Pearls of Portugal and their many services, let’s talk about the benefits of buying property in Portugal. Buying property in Portugal is a great option for both local and foreign residents. However, there are certain laws and requirements that must be followed. One of the most important is getting a NIF number, which is required for all real estate transactions. Another is obtaining a Caderneta Predial, which is the official property register document.

1. Low cost of living

The cost of living in Portugal is relatively low. Food, water and energy costs are lower than in many other European countries, as is the price of public transport. The country also has one of the lowest population densities in Europe. In addition, buying an existing property usually requires less bureaucracy than a new build, according to Mr. Correia. And a homebuyer can move in immediately after the deed is recorded. Buying a house in Portugal is easier than many people think. There are no extra requirements for foreigners, and mortgage loans can be obtained from Portuguese banks. Non-residents can get a mortgage for 25 years, while residents can get up to 30 years. Mortgage applicants are asked to provide their net income, any pre-existing debts and employment history. In addition, a credit report is required for loan approval. A homebuyer must also pay a municipal transfer tax, known as the Imposto Municipal sobre Transmisses (IMT).

2. Excellent climate

Portugal enjoys a mild Mediterranean climate, with warm summers and comfortable winters. The country has a variety of landscapes, including forests and mountains. It is also famous for its wines and gastronomy. It is a great place to raise a family, with its quality public schools and affordable prices. It is also one of the safest countries in Europe. There are many parks and free museums, as well as beautiful beaches. Lisbon is a popular choice for non-EU property buyers, with its modern luxury apartments and historic villas. The city has a lively atmosphere, and it is easy to get around with its excellent public transport system. There are also a number of low-density areas that offer good value properties. These include the Setubal and Silver Coast regions. Buying a house in these regions is a good investment, as you can expect to see high rental yields. Furthermore, owning a home gives you a sense of security that renting does not offer.

3. No restrictions on foreigners

The country has no restrictions on foreigners when buying property for investment purposes or as a primary residence. However, mortgages are not easy to obtain. In most cases, lenders won't give buyers a loan that exceeds 35% of their monthly income. The price difference between properties varies depending on the region and its specific characteristics. For example, a villa in Lisbon may cost more than a condo in Setubal. For those who don't have a lot of money, a low-density interior property can be affordable and offers good returns. The golden visa program allows participants to get a residence permit and apply for citizenship after five years of ownership, which grants free visa travel throughout the European Union. Buyers should bring along their passport and a tax number (NIF) to buying property Portugal buy property in Portugal. They also need to open a bank account in the country to pay for utilities and other expenses. Buyers who can't visit the country in person can choose properties remotely and arrange viewings online.

4. Variety of properties

Whether you’re looking for a small apartment in Lisbon, a countryside home with a garden, or a luxury villa on the beach, the country offers something to suit every taste and budget. Property prices remain relatively low compared to other European countries, which makes it easier for families and retirees to purchase property in Portugal. Moreover, buyers can enjoy the benefits of the Golden Visa program, which allows non-EU citizens to obtain a residence permit after investing in property above EUR500,000. This is especially beneficial for foreigners who wish to live in the country long-term and take advantage of its beautiful 850 kilometers of coastline and rich culture, which includes art, fado (music native to the country played on guitar), football, theater, and centuries of history. The key to buying property in Portugal is working with a buyer’s agent, who will act on your behalf and provide you with information about the various properties available. This will allow you to make an informed decision and negotiate the best price for your dream home. Now that you know more about the benefits of buying property in Portugal, it is time to go back to the website of Pearls of Portugal to buy property in Portugal.