Buying a second hand renovated €350k Apt

Hi Guys,

Nice to meet everyone. I have been following this forum for a while and finally get a chance to create an account. We are an American family based in NJ looking to purchase a renovated €350k Apt in Portugal for Golden visa/leisure purposes. We found a building that was entirely renovated (only the facade was kept and a few structures) and all units are now sold out (however, one is available as a second hand). The building itself should get an occupancy license next week so no one can move in yet. There is only one unit (€350k range) that is available and it is from another foreigner who bought the unit and decided to not come to Portugal. So what that meant is I would be buying from him/her instead of directly from the developer. The current owner hasn’t moved in yet as the building has just been completed/awaiting occupancy license.

My questions how can I still purchase the unit and qualify for a golden visa? or this is a big no-no and I shouldn’t even think about it. Much appreciated everyone’s guidance on this. Thank you in advance.

You should check with a lawyer. If the renovation has already happened it may not qualify for the 30% rehabilitation discount (which is what makes the capital requirement €350k for properties needing rehabilitation as opposed to €500k for new properties).