**Notice: The Portugal Golden Visa Program has experienced substantial modifications this year, which has resulted in the revocation or partial modification of several property investment possibilities. Consult our guide on the changes to the Portugal Golden Visa here* for a detailed summary.
The Portugal Golden Visa program, also known as the Residence Permit Program, is highly coveted worldwide. Foreign investment has pushed almost €4 billion into the Portuguese economy as part of a five-year residence by investment plan for non-EU residents, with current interest in property investment prospects in low-density regions in Portugal expanding.
While the Portugal Golden Visa Program allows you to spend a minimum of €500K in domestic or commercial property in Portugal or €350K in restoration projects, there are certain limits on where you may do so. More crucially, prices differ depending on whether a house is located in a 'low-density' region of Portugal.
This guide will teach you about:
Portugal's real estate investment choices for the Golden Visa
What parts of Portugal are suitable for residential real estate investment
What words like "low-density," "interior area," and "280K investment" mean in legal terms
The following real estate investment avenues are possible to qualify for the Portugal Golden Visa:
Are you unsure whether real estate investing is a suitable match for you? We've put together a special guide for this occasion, which will lead you through the golden visa real estate investment perks in Portugal.
The government of Portugal wants to encourage investment in the following areas:
Regions with a low population density
Requalification of the city
Environmentally or socially significant activities
Job creation and productivity
As a result, the Portuguese government has altered the real estate investment pathways to Portuguese residence, establishing a categorization system for which parts of Portugal qualify for property investment. The terms 'interior' and 'low-density' are used to describe these locations. But there's no denying that they're two distinct words.
Below, we break down which locations of Portugal are suitable for property investment, highlighting the subtle variations between 'interior areas' and 'low-density areas.' By the conclusion of this section, you should have a good idea of which parts of Portugal are suitable for real estate investment.
Interior regions simply refer to locations where you may invest in residential real estate and get a golden visa residency permit. In contrast, there are no constraints on where commercial real estate may be built. That is to say, you may invest anywhere in the nation as long as the property is classed as "commercial" (licensed for business-related activities).
See our map below, which highlights the interior parts of Portugal. Property in Portugal's 'interior' regions is acceptable for both residential and commercial real estate investment. Only commercial properties, which are marked in blue, may be acquired outside of the 'interior' restrictions.
The locations in light gray on the map below are classed as being in the low-density zone, as noted. Dark gray highlights areas that are not in the low-density zone.
Low-density locations decide whether or not you get a 20% discount on your investment. Low-density areas are defined as territorial units (NUTS III) with a population density of fewer than 100 people per square kilometer and a per capita GDP of less than 75% of the national average.
It's worth noting that a region might be both internal and dense. You may still buy a house in this instance, but there will be no discount.
Consider the following scenario: You've decided to invest in Algarve real estate. While the Algarve is categorized as a 'low-density' area, it is not considered part of Portugal's interior. As a result, certain areas of the Algarve are not suitable for residential property investment. Aljezur, Odeceixe, and Sagres are some of the low-density AND interior locations that are now eligible. In this instance, you have the option of purchasing a home or investing in a domestic renovation project.
The regions of Portugal shown on the map below are eligible for either:
Property investment in non-interior locations with a high density (commercial only)
Investment in non-interior low-density real estate (commercial only)
Interior property investment in high-density regions (residential and commercial, but no discount applies)
Investing in low-density properties in the interior (residential and commercial, 20% discount applies)
Are you seeking to renovate a historic building in the Douro Valley? Maybe you're looking to acquire a commercial shop location in Lisbon. Or maybe you like the notion of owning a seaside property in the Azores. The good news is that the Portugal Golden Visa program is a beneficial plan that provides investors with a variety of real estate investment opportunities. Let's take a look at some of the important locations where you may want to put your money.
It is completely conceivable to purchase a residential property in a designated interior region of Portugal that is also 'low-density.' Parts of the Douro Valley, Aljezur, and Peneda Gerês are examples of locations with significant development potential that qualify for the Golden Visa.
They offer ideal property opportunities for investors, with exceptional value for money, since properties in low-density regions are often cheaper and more spacious. For about €400K, a family may have the property of their dreams, replete with fruit trees, a decent-sized pool, and breathtaking views.
The Alentejo, Douro Valley, and Peneda Gerês are now the most favored investment areas. All of them have excellent investment potential, including prospects in hotel, outdoor tourism, and cultural and religious tourism.
Prices per m2
To be eligible for the €280K low-density investment option and benefit from the 20% discount, the applicant must:
Invest in a commercial restoration project in a region of the nation with a low population density.
Invest in a home restoration project in a low-density, often known as interior, sector of the nation.
The cost of investing in a rehabilitation project in a high-density region starts at €350,000. Either the property in issue is over thirty years old and undergoing renovations, or it is located in a designated rehabilitation area. It must be in an interior location if it is a residential property.
There are several advantages to investing in low-density regions and receiving a golden visa.
These are some of them:
Lower investment barrier and strong rental return returns present a great opportunity.
Low-density locations have much cheaper real estate values.
Rental apartments are highly profitable in a healthy property market.
The Portuguese government strongly encourages property investment in Madeira and the Azores. Applicants for a Golden Visa may purchase real estate or invest in a residential or commercial renovation project on the islands. It's worth noting that Madeira and the Azores are only considered high-density areas. As a result, no section of the islands is eligible for a 20% discount.
Commercial real estate in Portugal is eligible nationwide, with no limits on location. Investors wishing to purchase commercial property or engage in commercial restoration in Portugal's major cities, such as Lisbon, Porto, and the Algarve, are free to do so.
2. Aguiar da Beira
4. Alcácer do Sol
6. Alfândega da Fé
12. Alter de Chão
16. Arcos de Valdevez
30. Cabeceiras de Basto
31. Campo Major
32. Carrazeda de Ansiães
33. Carregal do Sal
34. Castanheira de Pêra
35. Castelo Branco
36. Castela de Vide
37. Castro Daire
38. Castro Marim
39. Castro Verde
40. Celorico da Beira
41. Celorico de Basto
54. Ferreira do Alentejo
55. Ferreira do Zêzere
56. Figueira de Castelo Rodrigo
57. Figueiró dos Vinhos
58. Fornos de Algodres
59. Freixo de Espada à Cinta
71. Macedo de Cavaleiros
78. Mesão Frio
79. Miranda do Corvo
80. Miranda do Douro
83. Moimenta da Beira
86. Mondim de Basto
99. Oliveira de Frades
100. Oliveira o Hospital
102. Pampilhosa da Serra
103. Paredes de Coura
104. Pedrógão Grande
106. Penalva do Castelo
110. Pedo da Régua
112. Ponte da Barca
113. Ponte de Sor
116. Póvoa de Lanhoso
119. Reguengos de Monsaraz
121. Ribeira de Pena
124. Santa Comba Dão
125. Santa Marta de Penaguião
126. Santiago de Cacem
127. São João da Pesqueira
128. São Pedro do Sul
135. Server do Vouga
141. Terras de Bouro
143. Torre de Moncorvo
146. Vendas Novas
147. Viana do Alentejo
149. Vieira do Minho
150. Vila do Rei
151. Vila do Bispo
152. Vila Flor
153. Vila Nova da Barquinha
154. Vila Nova de Cerveira
155. Vila Nova de Foz Côa
156. Vila Nova de Paiva
157. Vila Nova de Poiares
158. Vila Pouca de Aguiar
159. Vila Real
160. Vila Velha de Ródão
161. Vila Verde
162. Vila Viçosa
Parishes with a low population density in Portugal:
União das freguesias de Belazaima do Chão, Castanheiro do Vouga e Agadão
União das freguesias do Préstimo e Macieira de Alcoba
Gouveia (São Simão)
Salvador do Monte
União das freguesias de Aboadela, Sanche e Vázea
União das freguesias de Bustelo, Carneiro e Carvalho de Rei
União das freguesias de Olo e Carnadelo
Vila Chã de Marão
Bouro (Santa Marta)
União das freguesias de Caldelas, Sequeiros e Paranhos
União das freguesias de Vilela, Seramil e Paredes Secas
União das freguesias de Arga (Baixo, Cima, e São João)
União das freguesias de Gondar e Orbacém
Castelo de Paiva
União das freguesias de Arosa e Casteiões
União das freguesias de Querença, Tôr e Benafim
Marco de Canaveses
Várzea, Aliviada e Folhada
União das freguesias de Freixianda, Ribeira do Fárrio e Formigais
União das freguesias de Matas e Cercal
União das freguesias de Rio de Couros e Casal dos Bernados
Ponte de Lima
Ardegão, Freixo e Mato
Associacão de freguesias do Vale do Neiva
Bárrio e Cepões
Beiral do Lima
Cabaços e Fojo Lobal
Cabração e Moreira do Lima
Labrujó, Rendufe, e Vilar do Monte
Navió e Vitorino dos Piães
Porto de Mós
União das freguesias de Casével e Vaqueiros
São Marcos da Serra
Santa Catarina da Fonte do Bispo
União das freguesias de Além da Ribeira e Pedreira
União das freguesias de Casais e Alviobeira
União das freguesias de Serra e Junceira
Vale de Cambra
União das freguesias de Gondomil e Safins
União das freguesias de São Julião e Silva
Viana do Castelo
São Pedro de France
União das freguesias de Barreiros e Cepões
The Portugal Golden Visa Program is a five-year residency-by-investment program that provides eligible candidates with permanent residence in Portugal in return for making an initial investment in the nation. After five years of lawful presence, you may apply for Portuguese citizenship (essentially EU citizenship).
Consult our golden visa Portugal guide for additional information on the entire range of investment possibilities available under the plan, as well as program conditions.
When it comes to Golden Visa applications, our staff has a 100% success record, and we'll make sure you discover the ideal investment for your needs.
Your personal account manager will be with you every step of the way, saving you time when it comes to submitting your application. Our staff has years of expertise and can assist you in avoiding the problems that many Portuguese Golden Visa investors face.
Investors can opt to invest in commercial real estate in need of rehabilitation and restoration starting from €350,000 anywhere in the country. A residential real estate rehabilitation project is also possible, but only in designated low-interior areas of the country. The autonomous islands of Azores and Madeira are considered high-density AND interior, so you can buy residential real estate here.
The property in question must at least be more than thirty years old and undergoing renovation.
A cheaper option is to invest €280K+ in renovations projects in low-density areas. These designated areas are split according to the region’s population. If the area hosts less than 100 occupants per 1,000 square meters, it counts as a ‘less densely populated area’.
The Portugal Golden Visa will receive an extensive makeover, starting from 1 January 2022. With regards to real estate investments, the following will apply: Properties in Lisbon, Porto, and other popular urban coastal towns will NOT QUALIFY for residential property investments under the Golden Visa scheme, only commercial real estate. Residential real estate investment in low-density areas will continue to qualify, but only in designated ‘interior areas’ of the country. Alternatively, you can buy residential property or invest in residential rehabilitation projects anywhere on Portugal’s autonomous islands (they’re not subject to restrictions).
Low density areas in Portugal include the countryside/eastern areas in Portugal mostly, with the exception of coastal areas south of the River Lima and North of the River Sado. Madeira and Azores are also excluded.
Yes, the Algarve qualifies as low-density, so your real estate investments will automatically get a 20% discount for the Portugal Golden Visa.
Cascais is not considered low-density. It’s high-density, so no 20% discount applies to your real estate investment for the Portugal Golden Visa.
Faro is indeed considered low-density. This means a 20% discount automatically applies to your real estate investment for the Portugal Golden Visa.