Learn everything you need to live in Portugal – from visa requirements and pricing to taxes and top locations – in this guide!
Portugal’s property market is super diverse, so when you hear “top properties,” it’s covering everything from historic townhouses in Lisbon to modern apartments in Porto – not just luxury villas in the Algarve!
Places on the coast obviously give you those stunning sea views when you’re ready to wind down, but Portugal’s also a quality place for digital professionals looking for space and affordability compared to other Western European markets.
And there’s a lot of rental demand here for investors because of all the tourism and growing expat communities. So a property here can be both a holiday home and a long-term investment.
The process of buying property in Portugal isn’t much different from anywhere else in Europe:
And since the requirements for securing a mortgage are typically stricter if you’re not a resident, our team at Upscore is here to walk you through the whole process – even helping you use your UK credit score in Portugal!
You’ll need everything from proof of income and bank statements to sometimes even a larger deposit, but we’ll help you organise everything in one neat place. Our service is free, and fortunately, interest rates in Portugal are often competitive compared to other EU countries.
You’ll definitely need to spend some time on paperwork and contracts when you’re moving to Portugal, but moving here is also about embracing a new lifestyle and culture – which we can give you tips on!
You’d ideally want to learn some basic Portuguese, but English is also widely spoken in larger cities. And there are plenty of expat communities. There’s just something for everyone – families like the safety and education standards, while plenty of young professionals benefit from Portugal’s growing reputation as a remote work hub.
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You won’t struggle settling into everyday life in Portugal on our watch. You’ll need to make a few small adjustments that are ultimately just part of the charm! For example, supermarkets are well stocked here, but many locals still prefer markets for fresh produce, which keeps costs down and meals healthier.
Your banking will also be quite straightforward – most major banks offer online services in English – and setting up an account is a first step once you have your tax number (NIF).
You can get away with taking buses and trains in larger cities, but a car is non-negotiable if you want to live in a rural area.
Healthcare is another massive plus here, since residents can access the national system, which is affordable and generally well regarded. But private clinics are also available should you need them!
Want somewhere just a stone’s throw away from the ocean, or somewhere quieter slightly off the coast? Our expert guides tell you how to make it a reality – covering everything from mortgage processes to legal requirements.
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Most people start with the D7 if they have steady income from abroad, or the digital nomad visa if they’re working remotely. You then have to: Gather documents Book a consulate appointment Finish residency with SEF/AIMA after arrival
Rent tends to be the biggest expense you’ll have. Needless to say, Lisbon and Porto are the most expensive here, while smaller towns and islands are more budget-friendly. Your food shopping won’t be that much more than in the UK, and you get away with eating out fairly regularly. Utilities will spike in winter. Wages are lower locally, but that’s because everything else is cheaper.
With residency, you can register for the public SNS and pay small fees per visit; it’s basic but dependable. Many expats add private insurance for faster appointments and English-speaking clinics. Pharmacies are helpful and your prescriptions are generally affordable, too. Make a habit of carrying your Número de Utente and ID card.
Portugal taxes worldwide income once you’re a tax resident, and the NHR program changed recently to have narrower eligibility and transition rules. Expect to file locally and possibly back home, and it’s also worth getting advice from your accountant before relocating any assets. Lastly, keep records from day one and plan around fiscal residency dates.
The bigger cities like Lisbon or Porto are the most exciting if you’re after that city vibe, and the south coast tends to be more sunny and relaxed. Then the inland towns feel slower and cheaper. So you should decide what kind of lifestyle you want first, then work from there, not the other way around. Just make sure you give that area an in-person visit before you commit to anything major.
Get the best start in your Portuguese mortgage application with Upscore’s Finance Passport!
