Buying Property in Northern Portugal

Portugal is among the top destinations in Europe for expats to relocate, either for retirement or work. In fact, since 2009, the new retirement tax laws in Portugal have made it more attractive for foreign nationals to retire in the country.

Portugal has an affordable cost of living. Typically, it can range from US$1,500 to US$1,700 per month in smaller towns and around US$2,200 in larger cities. Most importantly, the northern Portugal real estate market is also cheaper compared to western European countries like Spain, France, and the UK. So, it is possible to buy property in Portugal without breaking the bank.

This guide will explain the important aspects you need to consider before you buy property in Northern Portugal.

Why Buy Property in Northern Portugal

Portugal has something to offer any expat looking for a new life – whether that is a quiet rural retreat or a vibrant city living. While its sunny south side is unimaginably beautiful, its northern part is also worth a look. There is a diverse landscape waiting for you to be explored. Whether you prefer country escapes, beachside villas, or even city center apartments, Northern Portugal’s real estate market has plenty of options to suit every lifestyle. The following are some reasons to buy property in Northern Portugal:

⦁ For starters, you will love its transport facilities. Its transport system is so diverse that all the cities and even neighboring countries like Spain are connected. In fact, northern Portugal is just a couple of hours’ drive from the north of Spain.

⦁ Secondly, if you love being outdoors on weekends and after work, you will find Portugal’s weather pleasant. While it is a lot cooler than the south and experiences heavy rainfall, the coast benefits from the Mediterranean climate. So, you get sunny and mild weather, which is perfect for outdoorsy people.

⦁ Of all the things you love about Portugal, the country’s rich culture tops the list. Northern Portugal is highly influenced by the Celtic heritage. Each small town and village in northern Portugal has its own unique festivals and traditions.

⦁ Northern Portugal is experiencing a whole lot of development in the property and real estate sector. As of 2014 and 2018, there were over a million square meters of real estate projects licensed and completed. These new developments have lifted Northern Portugal’s real estate business to a great extent. There are plenty of historic homes with modern interiors on sale.

⦁ Last but not least, properties in Northern Portugal offer great value for money. Nevertheless, property prices are experiencing an upward trend, with the median price increasing year on year. So, this is a great time to buy property in Portugal.