In the last decade there has been a massive surge of foreigners buying property with a Portugal buyers agent. There are a number of reasons why this is happening; buying property qualifies you for an eventual second passport, the Portuguese real estate market has been on the rise, Portugal is an incredible place to retire or relocate, etcetera.
Whatever your reason for buying property in Portugal is, you are making a very good decision and one you will definitely not regret. Stil, buying property in Portugal as a foreigner can get tricky and there is a ton of stuff that needs to be done in order for you to start calling Portugal your home.
It is highly recommended that you hire a Buyer’s Agent when you start to consider purchasing real estate in Portugal. A Buyer’s Agent is similar to a Real Estate Agent. The difference being that a Buyer’s Agent has a lot more responsibility and takes care of a lot more details.
An International Buyer’s Agent is in charge of finding the property that you are looking for in Portugal, gives consultations regarding the opportunity to make money by investing in real estate, and to guide you during the whole purchasing process.
Thanks in large part to the massive popularity of the Golden Visa program sponsored in Portugal, the role of the Buyer’s Agent has grown substantially to include more and more responsibilities over time.
As a foreigner there are a number of things that you need to complete in order for your real estate purchase to be made legal, such as having a tax id, and having a trustworthy Buyer’s Agent fixes that problem immediately.
A Buyer’s Agent will take care of all the required documentation for you and resolve all of the legal issues that might arise when you start to plan to buy property in Portugal. I highly suggest you get one to facilitate the process.
It is hard to estimate how much a Buyer’s Agent will cost you, but whatever the price I guarantee that you will save a lot of money and time if you get one.
Which brings us to another important part about buying property in Portugal, investing in real estate. I highly recommend that the house or apartment that you buy in Portugal be worth more than €350,000 Euros.€350,000 Euros is the amount needed to be invested in real estate in order for you to qualify for the Golden Visa Program. Best part about this is that after you become a citizen and get your second passport you can sell your house and make a profit.
Due to new laws being passed which will cause a reform in the current Golden Visa Program sponsored by Portugal, I highly recommend that you move forward quickly and begin your process to get a second passport as soon as possible.