If you own a home in the US and are considering relocating, retiring, or purchasing a vacation home in Portugal, get ready to be shocked … in a good way.
Housing prices in Portugal are significantly lower than they are in the US. How much lower? In some instances, similar properties in comparable locations in Portugal can cost up to 50% less than they would in the US. That means you may be able to double your value by moving to Europe’s safest and most welcoming country.
US Housing Boom
Home prices in most parts of the US currently are skyrocketing. While that may be bad news for new home buyers, it’s great news for people who own their own houses or condos.
Selling your home now and taking that money to get someplace bigger, better, and in a more desirable area in Portugal could be the power move you’ve been waiting for. In some instances, homeowners could replace a modest home in a standard neighborhood with a luxurious property someplace glamorous in Portugal, such as The Algarve seaside resort area or one of the country’s cosmopolitan centers such as Lisbon or Porto.
Lower Cost of Living
And the benefits don’t end there. Once you arrive in Portugal, the cost of living is significantly lower than it is in the US. Consumer prices in Lisbon — Portugal’s largest and busiest city — are 37.7% lower than they are in Washington, D.C. Rents are lower, too. The same apartment in Lisbon would cost you about 46.3% less than you would pay in the US capital city.
Plus, when you move to Portugal you can apply for the Golden Visa program which allows you to achieve residency or even permanent citizenship in Europe’s most popular tourist destination. BRINT Portugal can tell you more about how you can live a fuller, more rewarding life for less money in sunny Portugal.