When considering a list of top ten countries to retire abroad for americans, Portugal is a top contender. From the outstanding Mediterranean weather and friendly culture, to its relatively low cost of living, safety and delicious food, there are only a few other nations that can compete with this European nation. For these reasons, it is popular with a wide cross-section of expats interested in buying a house in Portugal, including retirees, digital nomads, and even professionals that want to run their business from a jurisdiction offering many advantages. Among the latter include a local population with a high degree of English-language fluency, safety and tax benefits, such as the Non Habitual Resident Program.

There are no restrictions on foreigners wishing to buy a home in Portugal, and the country even incentivizes it through their Golden Visa immigration program. In addition to granting you the legal right to live, work, and study in Portugal, this Golden Visa provides you with the added benefit of doing the same across those European nations within the Schengen area. After a number of years, you will be able to apply for permanent residence and even naturalization as a Portuguese citizen, with dual nationality supported.

Catering to all types of buyers, there are many styles of homes on offer, and the prices vary greatly depending on the location, as much of Portugal is still quite affordable. If you’re set on living in a city, it is hard to beat the capital of Lisbon, with its active startup scene and vibrant expat population. There are also affordable properties in this beautiful city, within trendy neighborhood slightly outside the center. Porto and Braga are also excellent alternatives for those looking to get better value in terms of average price per square meter.

Outside of the cities, there is plenty of opportunity to buy a “quinta” in the countryside, which is a term used in referring to farms and their associated country homes. “Terreno” is the term used for the land itself, and it is always essential to consult with the local government authorities to understand what building rights one has when purchasing land. Agriculture is big business in Portugal so there are plenty of small and medium sized towns located near to such farmland, for those seeking a bit of civilization within driving distance of their country retreat.

algarve house

If the beach is your preferred environment however, then the Algarve region is a prime choice for your Portugal real estate search. Known as the Golden Coast of the country, you’ll encounter countless properties here, from studio apartments within walk of the shore, to luxury villas surrounded by ocean views.

Besides the great choice of property types, the choice of purchase financing makes Portugal all the more appealing. Qualified buyers with strong documentation, such as recent payslips, tax returns, and bank statements, can apply with local banks for a mortgage. Typical down payments are at least 20 percent of the property price, but given the already lower cost of real estate in Portugal, this is still quite achievable for many professionals looking to invest in a second home.

Learn more about why Portugal has been a very attractive option for foreign investors as I uncover several hiddenly secrets about the country in our blog.