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Purchasing Real Estate, any advice ?

Ilikestuff

My family and I have started the Golden visa process.  We are traveling there next week to view and purchase real estate in Lisbon. Any advice would be greatly appreciated!

See also

Real estate listingsAccommodation in LisbonBuying property in LisbonRenting options in LisbonNeighbourhoods in Lisbon
Bhavna

:up:

PortugalEquity

Congratulations! If i can be of help, let me know! :)

vicdrive

Moderated by Bhavna 7 years ago
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Ilikestuff

Hi there!

It is going OK - Definitely takes longer than I hoped for. It took almost 18 months from the point I closed on the property purchase to the point where we finally got the visa itself. Then they say that it's 5 years from that point before you can apply for Perm residency or citizenship, but that's not true - Each time you need to "renew" (after the first year and then again after the 3rd year) there is a several month's gap, so it's at least 5.5 years, more like 6 years. Then I've heard it's at least another year to apply for perm res / citizenship (which is not guaranteed). So all tolled it's over 8 years between when you start the process and when you'd receive perm res / citizenship - if you are even approved.

On the bright side, nowadays there are easier ways to do your investment, ie. other than real estate. I think you can put €350k into an approved investment fund, for example. Much easier to manage and get started than having to search for a property, pay a *ridiculous* tax to purchase a property (like 9%!), deal with brokers (and there's no MLS or comps), all in a foreign market that you don't understand how it functions.

Be warned though - Plan on *at least* 8 years between your start and the time you get perm res/citizenship, and that it's not even guaranteed that you will get it.