Want to buy a property in Portugal? Everything you need to know.

With a striking coastline stretching 600 kilometers from north to south on the west coast of the Iberian Peninsula, Portugal is a nation of picturesque towns, tranquil fishing villages and small towns and villages.

This is a nation with a long and proud history, offering year-round living in moderate temperatures and with a wide range of real estate investment options to suit most budgets. The cost of living is generally lower than much of western Europe and, being part of the Schengen visa zone, Portugal provides easy and free access to the rest of Europe and a free travel area between the UK and Ireland.

Can foreigners''buyreal estate in Portugal? Yes. Portugal is a member of the European Union, which means that any passport issued by any European Union country, or any member of the European Economic Area, including Norway, Iceland and Liechtenstein, can also buyreal estate there. Since Switzerland is generally aligned with the European Economic Area, its citizens can also buyreal estate in Portugal. Currently, after the UK officially left the EU as of January 31, UK citizens can still purchase property and obtain residency rights in Portugal, just as if they were in the EU. However, this window closes by the end of the transition period in''late December 2020, and the situation after that is unclear. In addition, Portugal is also recommended for foreigners seeking a residence permit to consider. It allows permanent residence for any passport holder on the purchase of a property worth €500,000 or €350,000 if the property is over 30 years old and located in an area designated by the Portuguese government for urban regeneration or urban renewal. However, it should be noted that the residence permit does not give the right to work, but allows easy movement within the EU and the European Economic Area.

First steps:

• Select the area or community you want to enter. A good way to do this is to actually visit the places and talk to the residents''there.
• English is widely used.
• The regions of Portugal are diverse and unique, offering a wide range of lifestyles, from the bustling cities of Lisbon and Porto to the sunny Algarve, to Madeira and the Azores.
• You can also check accommodation prices and exchange your home currency for euros. Right now the exchange rate is 4 Dirhams to 1 Euro.
• There are many real estate portals, such as www.portugalproperty.com or www.idealhomesportugal.com, that cater to foreign clients looking to invest in real estate in Portugal. Here are some areas worth considering:

Eastern Algarve:

This section between Faro and Spain is the most sparsely populated''of the three sections of the Algarve coast. Characterized by the sandbanks and lagoons of the Ria Formosa National Park, the main destination of this area is the former fishing village of Tavira, transformed into a cosmopolitan town on the river. Other popular destinations include Vila Real de San Antonio with its good harbor and Castro Marim for those who want to be close to the Spanish border.

Central Algarve:

The central Algarve area around Vilamoura is particularly popular with buyers, and this most developed and most populated part offers many opportunities. Vilamoura itself, a resort built with a main marina for 1,000 yachts and a golf course in the center, is close to luxury hotels, casinos, sports facilities and beach''clubs.

Western Algarve:

This area is generally regarded as less developed than the central Algarve, especially as you head towards the Atlantic coast, it is an area with lovely fishing villages and wide beaches. Lagos is the most popular destination - an attractive year-round town.

Nazare:

surfing paradise. In 2014, a record was set when a surfer tackled a 100-foot wave - as tall as a ten-story building. The town itself is home to about 15,000 people.

Penish:

A medium-sized town of 30,000 people, situated on a small but impressive promontory with three sides of the sea. The town has an attractive harbor,''Photogenic white windmills and long sandy beaches popular for all kinds of surfing and outdoor activities, as well as a lively fishing harbor.

Caldas da Rainia:

historic resort town of 27,000 people with museums and exhibition centers and a lively center of stores and cafes. There's a network of villages around with semi-rural Portuguese life, but with access to local services and transportation links - a bus from Caldas to Lisbon takes just an hour.

Obis:

An impressive medieval walled city. It is not only a local landmark, but also one of the most visited places in Portugal. It has traditional restaurants serving local fish, narrow cobbled streets and beautiful''the coast of West Africa. Madeira, the largest island, is known as the 'Pearl of the Atlantic' because of its year round blooms and is the most visited island destination in Europe. The main island has many high mountains and a stunning coastline. More than 60 percent of Madeira is a unique nature reserve with UNESCO World Heritage status.

Porto:

If the Algarve seems a little quiet to you, but you enjoy Portugal's culture, you might like the country's second largest city, Porto. A UNESCO World Heritage Site, this charming place is the gateway to the beautiful Douro Valley.

Portuguese banks help foreign buyers investing in''real estate?

The short answer is yes, Portuguese banks do consider foreigners to finance the purchase of real estate, but usually only if you have a passport from any other EU or EEA (European Economic Area) country. The main advantage of taking out a mortgage in Portugal is that the lender will carry out legal checks on the property and arrange a valuation. Another advantage is that if you decide to rent out your property on a short or long term lease, your Euro rent can offset or cover your Euro mortgage payments from your Portuguese bank, which naturally allows you to protect against potential currency risk.

There are about 15 banks in Portugal,''providing various mortgages and home purchase loans. Among them are BBVA, Santander, Bankinter, Banco Best and Banco CTT. Each bank has its own criteria and you may not be offered the most suitable loan or the best offer. You may also find it difficult because of the language barrier, but it's a good place to start.