Properties Qualifying for Portugal's discounted 350,000 threshold?

My wife and I aren’t interested in purchasing a property through any of the “golden visa companies”. We want to find a character property on our own. It’s primarily what I’ve done in the US for the past two decades. We’e no interested in these services which offer what amounts to my mind as an over-priced time shares even with the caveat that the’ll buy it back and help process the Golden Visa for you. We simply want to find a property we like with character that is centrally located in Lisboa or Porto (we like both cities), and want to hit the the 350,000 euro threshold. What do we need to know when looking? Thank you for your assistance and advice in advance.

I can relate. I went down the path of trying to buy a property from one of the “golden visa companies” about 6-12 months ago. I knew I’d be paying a premium, and convinced myself it was worth it, but once I (almost) pulled the trigger, I got cold feet and reversed the decision. I won’t mention the company name here, and I would not say they were bad, but something did not sit well with me with having little choice on the matter. Soon after that, I decided to do my own research (using idealista.com, you can narrow on properties in your chosen neighborhoods, that “Need Renovation”). I was fortunate to have received a referral for a realtor (and had met the realtor about 1 year earlier in Lisbon). So, after about 2 months of research, I found a few candidates and decided to contact the realtor. About 2 weeks ago, I purchased a flat in Lisbon, and have just signed my contract for renovation. I feel much better about this decision. I don’t know if this helps, but I can refer you to the realtor, if you are interested. I was VERY happy with her work (honest, knowledgeable, helpful, great communicator). She also introduced me to the remodeling company and my experience with them so far has also has exceeded my expectation (though the actual renovation work has not started yet). I will say this, it is becoming difficult to find a property in Lisbon that meets all of one’s wishes and does not stray too far from the 350k minimum. Please feel free to send me a direct message if you’re interested in more detail about my experience, and good luck!

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It was proposed this year to no longer allow buying property in Lisbon and Porto for the Golden Visa. Any change in the Golden Visa will be part of the national budget law. When the 2021 budget has passed parliment, it will be published on www.dre.pt, the Diário da República Electrónico.

The site gives choice of Portuguese or English. Use Portuguese[1] because when searching using English there are far fewer results. That’s because the site returns only pages that were submitted to it in English. To find the 2021 budget search this: “Orçamento do Estado para 2021”. To locate golden visa info, search the untranslated page for “Autorização de Residência para Investimento”

[1] Chrome browser translates using Brazilian Portuguese. To use European Portuguese, go to www.bing.com/translator. Paste the URL into the left hand box. Clicking on the URL in the right hand box opens the translated site in a new tab.

Example of search results for the 2020 budget: https://dre.pt/web/guest/legislacao-consolidada/-/lc/130893466/view?q=Orçamento+do+Estado+para+2020

Please email me your contact info and the contact info for the realtor you’re working with. Thank you so much for your response. - Arthur

Could I get your realtor?

I’m confused how the properties offered by Mercan and La Vida Golden Visa qualify for Golden Visa. They both offer properties around 350K. Are they renovating existing properties?

Yes, Mercan is renovating existing land. With the 2 properties that are open right now, they seem to be complete teardowns. However, in the prospectus, it outlines clearly that a portion of your funds is for the existing property, and another portion is for the approved renovation.