Why Americans Are Choosing Portugal for Property Investments
Americans are increasingly discovering why Portugal is one of the best places in Europe to buy property. From its stunning landscapes and unspoiled beaches to its charming cities and Mediterranean climate, Portugal has something for everyone. Affordable real estate, high-quality health care, and travel opportunities are attracting Americans to buy in Portugal. Whether you’re looking for a holiday home to escape to for a few weeks a year, a rental property for additional income, or a long-term investment, Portugal is the perfect destination.
Let’s look at the reasons why Americans are choosing to invest in property in Portugal.
The Weather
One of the many reasons why Americans are choosing Portugal for property investments is the weather. Certain parts of America have sun all year round, but that does mean seasons of extreme weather are more likely with around 1333 tornadoes annually. Portugal is one of the sunniest countries in Europe, with an average of 3,000 hours of sunshine per year. This makes it an ideal location for those looking to escape the cold, dark winters of certain parts of the USA and have a more pleasant climate all year.
The Lifestyle
It’s not just the weather that’s warm in Portugal. It’s one of the most welcoming countries in the world for expats and investors from all over the world receive a warm welcome in Portugal. The laid-back lifestyle is perfect for retirees or people who want to live at a more relaxed pace. Americans are choosing to invest or relocate to Portugal for many reasons including:
· Great international schools
· Public transport system
· Low crime rates
· Low population density
· Lots of green spaces
Golf lovers will already know that Portugal is a popular golf haven, but Portugal also has ample opportunities for outdoor activities such as hiking, kayaking, and swimming. The cuisine, hospitality, and the opportunity to start a life are all factors in why Portugal is a popular choice for investment and safety is a factor too. Americans are also looking for opportunities to move to a safer country. Portugal has some of the lowest crime rates in Europe and violent crime is rare.
The Cost of Living
On Average, the cost of living in Portugal is significantly less than in the USA, meaning Americans get more for their money when they invest in Portugal. The average cost of a home in Portugal is around 40% less than a home in America. If you’re looking for an investment property, the boost in tourism and government investment in Portugal means it’s a popular holiday destination, so now is a great time to invest in property for short-term rentals.
Investment Opportunity
More than anything, investing in property in Portugal is an opportunity. It may be an investment in a better life, or a financial investment, either way, Portugal has two options for Americans wishing to invest in the county. The first is the Golden Visa Scheme which allows Americans to obtain residency when they make a qualifying investment. Currently, the US EB-5 Immigrant Investor Program requires a minimum investment of USD 800,000. Successful applicants are typically granted residence within 30–36 months and will be eligible for citizenship after 5 years. The second is the digital nomad visa, which is available for those who earn passive income. You can read more about if you qualify for this visa here.
If you are an American wishing to dip your toe into international waters, get in touch with our expert team who can help to move your money safely at the best possible price.