Many British have chosen Portugal as a second home, having bought a property in this wonderful country located in the southwest of Europe between the Atlantic Ocean and the Mediterranean Sea. Portugal offers a relaxed lifestyle, friendly and welcoming people and very attractive property prices.

Obviously, the more popular the country becomes for second home owners, the more the prices will rise, so if you are planning to buy a property in Portugal it is advisable to act swiftly. The time is right, and if you are well-prepared and properly informed you might just be able to make the deal of your life.

The reasons for buyers to purchase property in Portugal are varied. Some want a second home in this country, so that they can go there whenever they feel like it to unwind from daily life back home. Others want a house in sunny Portugal for later, when they are retired, and in the meantime use it now and again as a holiday home, letting it out the rest of the time. For others, a property in Portugal is a pure investment, buying it to rent out all the time or to re-sell after a period of time, knowing that the prices will keep increasing.

First of all, if you have to sell your property before being able to buy another, it is highly advisable to do so before putting down a deposit for a new home. Far too many people have gotten into financial trouble after the sale of their house in the UK didn’t go through as planned, and they already had new financial obligations in Portugal.

As is always the case, the main issue when buying property anywhere, and especially in a country where you might not know all the rules and regulations or even the language, is to be well-informed. It is important to know everything in detail before signing any documents. A good estate agent, preferably one with a wide experience in the country and a sound knowledge of the market, is a must, as is a good solicitor.

You will feel more secure by knowing that you have people who know what they are talking about supporting you. Often your real estate agent will know all the exact rules and regulations, while the solicitor provides the extra assurance and impartial support, and acts as your legal advisor and representative.

Make sure you know exactly what the financial situation is regarding the property’s purchase. Is the property mortgaged and does that need to be paid off? Are there any other debts you should be aware of? How is the payment for the property done – will the payment be done with a banker’s cheque, or is part of the payment in cash? Will you need a mortgage yourself? Once again, it is important for you to know the procedure to prevent getting any (unwelcome) surprises along the route. Your agent and solicitor will assist you with this.
Providing you have a good estate agent and lawyer, the procedure of buying property in Portugal should be very straight-forward and hassle-free. Once all is over and done with, you will be able to call yourself the proud owner of a house, bungalow, villa or apartment in one of the most beautiful countries in Southern Europe.


Enrico Nestler is a member of the Link Popularity team.