Can you buy property in Portugal without applying for a visa?
Yes, you can buy real estate in Portugal without a visa. There is no requirement to have a Portuguese visa or be a resident of Portugal when buying property. Many Americans and other foreigners who are not residents in Portugal are buying houses here as vacation homes, which they plan to rent out when they’re not using them. Applying for a visa or residency allows you to live in Portugal and it is separate from owning property.
However, there is a limitation to buying property in Portugal as a non-resident. Without a visa or without applying for residency, you are only allowed to stay in Portugal for up to 90 days out of 180 days. This means that, if you own a house in Portugal, you can live in it yourself for up to 90 days only. If you are fine with this limitation, you are free to fulfil your dream of owning a house in Portugal.
Can you buy a house in Portugal as a US citizen?
Americans are free to buy real estate in Portugal, as there are no Portuguese residency or citizenship requirements to purchasing property here. As a US citizen, you can legally become a home owner in Portugal and the homebuying process is fairly simple. However, until you have Portuguese residency, you will only be allowed to live in Portugal for 90 days out of 180, as per immigration law. The rest of the time, you may rent out your property in Portugal as a vacation home or long-term rental, to generate extra income.
Although you don’t need a visa or residency, you must apply for an individual tax identification number (NIF) and open a bank account in Portugal in order to purchase a home. To help them in the homebuying process and to understand all the documents necessary, most Americans hire a real estate agent, a lawyer and sometimes a translator.
Why buy a house in Portugal without a visa or residency?
There are usually two main reasons Americans buy real estate in Portugal before even applying to become residents of this country.
The first reason is for investment. Portugal is a very attractive country to own property, as it has many beautiful sought-after regions brimming with tourists, thanks to its wonderful sunny weather, friendly culture, an array of events and activities, as well as delicious food. This and many other reasons make Portuguese real estate a good investment, confirmed by the fact that home prices in Portugal are appreciating at one of the fastest paces in Europe.
The second most popular reason for buying real estate in Portugal without applying for a visa is for the long-term goal of moving to Portugal. Americans have been relocating to Portugal in record numbers in recent years and the trend is expected to grow in the upcoming years.
Buying a house is the first step in the process of moving abroad to Portugal for many of them. Not only can they temporarily enjoy their Portugal house as a vacation home, a base from where to explore and enjoy the Portuguese lifestyle, but they can use the property later as their permanent residence address when they’re ready to apply for residency in Portugal.
Can I afford to buy a house in Portugal?
Last but not least, many US citizens decide to buy property here because home prices in Portugal are more affordable than in the US. At around $135 per square foot, which is the average home price in Portugal, you could buy a 2,000 square foot home for around $270,000, for instance.
On a budget of $200,000, you can get a smaller, 1,500 square foot house or apartment in Portugal. This is about half the price of what you can buy in the US for the median home price, which hovers above $450,000. For those on a low-budget looking for a bargain, houses in inland regions can be even more affordable.
Increasingly more Americans are discovering Portugal as a top moving abroad destination and love living in Portugal. Hence, buying a house here is a great way to upgrade their lifestyle and live a more comfortable life than the one they could afford in the US.
Buying a house in Portugal is a lifelong dream for many Americans. It’s a steppingstone to retiring in Portugal, allowing them to truly become part of the community and assimilate in this beautiful culture.
