Understanding the Portuguese Golden Visa real estate market

The Portuguese Golden Visa market is global in nature. This means that people from all over the globe inquire about the visa, its conditions and what properties and level of investment they would need to purchase to qualify for a real estate related Golden Visa residence permit. The last 30 inquiries we have received for the Golden Visa originated from no less than 15 countries, from Asia, North and South America, and the Middle East, which shows how the Golden Visa appeal has broadened.

This is a companion discussion topic for the original entry at https://nomadgate.com/portugal-understanding-real-estate-market/

I don’t understand this. Isn’t 350,000 the lowest possible investment?

You can get a 20% “discount” if you invest in properties in an low density (or low income area), so if you have a property in such an area that otherwise qualifies for the €350,000 level, the requirement would only be €280,000. This is really an edge-case and not at all common—but it is possible in certain less attractive areas of the country. See this table.

Very interesting. Thank you. Just a few questions if you don’t mind.

  • Do you know if the Azores would be considered low density or low income?

  • Also would it be possible to finance a purchase via a mortgage? From what I have read mortgages in Portugal are available to foreigners. But are there any restrictions as far as the Golden Visa program is concerned?

  • And can you start with a smaller property, and then begin the Golden Visa process with subsequent purchases, once you reach the 500,000 euro value in total purchases? (or 350,000 euro value, potentiality)

Thanks so much. The link was useful too.

I think @teixeiradasilva would be more qualified to answer these questions, but my hunch is no, no and yes, respectively.

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OK. Thanks again!

Hi Justin

From memory (I don’t have the table in front of me) most of the Azores islands are low density but some places such as S. Miguel I assume will not be.
You can finance properties in Portugal as a foreigner up to 70% LTV but NOT within the Golden Visa level. The Golden Visa requires no recourse to finance within the GV level, anything above the level is fine.
You may accumulate and then apply when you hit the threshold, whatever level it is. Importantly, if you aim for €350K, for example, ALL properties must be qualifying properties for that level, no mixing and matching or the higher level automatically applies.

Thanks a lot for the information, Luis. No surprises, I guess.

For purchases less than the Golden Visa minimum, do you know if are there any kinds of entry or residency allowances for US citizens, beyond the usual 90 days in any 180 day period?

US citizens are treated as any other non-EU nationality. So rules would be the same as anyone else, generally speaking, who has a visa or visa waiver programme with the EU. It is possible to extend the original 90 day stay for a further 90 days, but limited to remaining in a single country, so all travelling should be done within the first 9 days. This request for an extension should not be used on a recurring basis as it will most likely be deemed residence in disguise.

You asked the question in the ambit of the Golden Visa, but there are other forms of gaining residence which do not involve purchasing anything - a route particularly used by retirees.

Yes, I should consider that. It is very possible I will not spend more than 90 days there in any 180 period until I retire.