Day 10: Real Estate In Portugal
Dear 40 Days To Your New Life In Europe Student,
We’ve been spending time in Portugal since 2015 and we knew after the first visit that this was a special place… a place that we wanted to spend as much time as busy lives like ours could handle.
So we went house hunting…
We searched up and down the entire country—a little farmhouse surrounded by an orange-tree orchard… an old villa overlooking a magnificent sandstone-cliff coast… an ancient village cottage with an arched, medieval passageway in Lisbon…
Until, at last, we found a charming apartment to buy in Lagos. Lagos is just one of many irresistibly charming places you’ll discover in Portugal’s Algarve region. It was a block from a plaza square, with a cute little balcony that boasted an ocean view. Best of all, because this market had been so long ignored, it only cost 99,500 euros.
We ended up renovating that apartment and, eventually, we rented it out for cash flow when we weren’t there ourselves.
Ultimately, we had to sell…
The property had increased in value significantly, and Lief, ever the property investor, couldn’t pass up the chance to more than double his investment. We were able to sell quickly for capital gains of 125%.
Our search for a new pied-à-terre here continues to this day… If you think a real estate purchase in Portugal is up your alley, whether for lifestyle or investment, you’re in good company.
Have a listen to our go-to real estate expert on the ground in Portugal, Luis Teixeira da Silva explain the benefits of making an investment in Portugal…
Follow along with the slides here.