Investors are required to buy Portuguese real estate for a minimum of €500,000 or above. It can be residential or commercial, located anywhere within the country and be of any age, resale, new-build or off-plan. This option is popular with investors who are looking to purchase property at this price or above, with no limitations on the area or type of property.
Investors purchasing a property in certain locations of Portugal which are considered to have a "low population density" can purchase any property for a minimum of €400,000. The property can be resale, new or off-plan, and needs to be located within a qualifying area. There are still parts of the Algarve that fall into this category.
The investment can be lowered to €350,000 providing the real estate being bought is more than 30 years old or located in an area of ''urban rehabilitation'' and will undergo refurbishment. Certain parts of Lisbon and Porto are classified as urban rehabilitation zones, making this option extremely popular for those looking to invest in one of the country's main cities at a lower rate. The cost of the renovation work can be included within the €350,000 investment. The government's rules regarding how the property can be renovated are rigorous and certain conditions need to be met.
If a property is more than 30 years old and located within a "low population density" area, the minimum investment amount can be reduced to €280,000.
Paulo Réfega is the managing director of our Portugal office. He has been assisting international families and businesses for more than 20 years. If you want to read more about Portugal's Golden Visa programme please click here. If you have any queries contact him at Paulo.Refega@ils-world.com
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