What are the advantages of buying real estate in Portugal that attract Russian investors?

Many Russians decide to invest in real estate abroad. European countries, in particular Portugal, are very popular among investors from Russia. One of the main reasons is the opportunity to obtain a temporary residence permit with the prospect of its re-issuance into a permanent one. The owners of such document have the right to apply for citizenship after 6 years of residence in the country, while the conditions for obtaining the document are not as strict.

And that is not the only reason why Portugal attracts investors. Although the territory of the state is not large, it is known for its beautiful nature. Coastal zones are especially popular here, since the presence of an apartment or a house can replace an expensive resort.

Another important reason is the social benefits that can be obtained by owning a home in Portugal. For example, if you have residential real estate in the country then your children can attend Portuguese universities without a student visa. This is very convenient, since you do not need to spend time and money on paperwork every year.

It should be noted that purchased housing can be used for commercial purposes. In Portugal, it is quite profitable to rent it out, especially since you do not need to fulfill any additional conditions for this. If there are long-term tenants then you may expect to return your investment in a few years.

An additional advantage for those who bought real estate in Portugal and were able to obtain a residence permit, is the possibility of unhindered movement in the Schengen area. For this, it will be enough to have a passport and a document confirming the residence permit in Portugal.

What are the most popular properties in Portugal?

The period of the pandemic has made some adjustments to the trends in the country's real estate market. In 2020 the popularity of country houses has grown, compared to apartments in high-rise buildings. In addition, the demand for real estate in the secondary market has increased, as buyers began to look for housing in which they can move in immediately after purchasing it.

The following housing options are especially popular in the Portuguese real estate market today:

• Comfortable cozy houses in the countryside - Albufeira, Lagos, Vilamoura, etc. You can buy such housing for 500 thousand euros. The average area of ​​the villas is 400 sq.m., and the territory often has a swimming pool, playground, parking, etc.
• Modern apartments in luxury buildings with panoramic windows and balconies. The average price of such objects is 500-600 thousand euros.

An additional advantage of owning a home in Portugal is the relatively low maintenance cost. In addition to the purchase itself, the investor needs to pay an annual tax, which approximates to 0.3-0.8%. No other payments are required.