Why is Portugal a good country to live in, and what Portugal offers to foreign investors outside of the Schengen zone?
Portugal is the second home choice for many foreigners, as shown by its residency by an investment program called passvisa. Since 2012, investors chose this country as their second home, seeking a plan B destination, a place to retire, or move as a family. People are drawn to Portugal because of its rich culture, which includes popular towns such as Lisbon and the Algarve.
According to the Global Safety Index 2023, Portugal is the world’s seventh safest country, making it a preferred investment location in the Schengen zone. The low cost of living may also be a consideration in these long-term ambitions to relocate to Portugal. Accommodation is another consideration, especially in the United States, which is more expensive. Portugal offers a diverse choice of properties at lower prices than the United States.
In this article, we’ll explore why Portuguese cities are ideal to move to.
What We’ll Explore in This Article?
- Cost of Living in Portugal
- Job Market in Portugal
- What are the Best Cities in Portugal to Live in?
- How to Move to Portugal from Abroad: Visa Options
- And more!
Why are Portugal’s Cities Ideal for Foreigners?
Portugal passvisa, Portugal D7 Visa, and Digital Nomad Visa are among the options for foreigners that make Portugal an ideal place to move, with convenient visa opportunities. Families find reasons to move to Portuguese cities to live a more affordable lifestyle in the beautiful coastal cities, with children having a good education and benefiting from a healthcare system. This brings them global mobility and freedom, and business people can discover more opportunities in Portugal’s local business atmosphere or in other European countries.
If you are considering living in Portugal, the best cities below may help you decide. Among all these, the good weather in Portugal’s cities is to remember, and among the most common reasons for foreigners moving to Portugal is a strong sense of community that you are about to be a part of.
What are the Best Cities in Portugal to live in?
These cities vary significantly from one person to the next, depending on personal preferences and lifestyle goals. However, some cities consistently appeal to a large number of people.
You may be a retiree from the USA wishing to relocate to Portugal. Or among a large number of people with lifestyle goals, including a more peaceful lifestyle in the coastal city of Portugal.
Here are some of the best cities to live in Portugal:
Lisbon
Population: 517,802
The capital city of Portugal, Lisbon, is a UNESCO World Heritage Site and is one of the favorite options for foreigners because of its culture, history, and metropolitan city life. Due to the robust real estate market in Lisbon, many options for properties are available for purchase. Universidade de Lisboa, also called ULisboa, is the largest university in Portugal. Also, it is the most prestigious university in the country and a major university in Europe. Living in Lisbon, with its wonderful environment, high standards, and economic prospects, combined with its nice weather, all entice Americans to relocate there.
Porto
Population: 249,633
Renowned for its rich history and wine, Porto draws foreigners to live in Portugal with its thriving real estate market, lively culture, low cost of living, and great employment prospects. Prospective purchasers can find out various possibilities in Porto.
The Algarve
Population: 438.864
The Algarve is situated in the southern part of Portugal. The city is known as the Algarve region. If you are wondering about accommodation in Algarve, remember that Portugal’s real estate market is diverse, and there are many alternatives. It is one of the Portuguese cities drawing in Americans with its lovely beaches, pleasant climate, and reasonably priced cost of living.
Faro
Population: 41,355
The historic city Faro is also in the Algarve region. The marina and historic old town in Faro is worth visiting and for some, moving in. Some also consider many places in this city as tourist attractions. The real estate market is busy in Faro, and there are a variety of properties available. Americans also are attracted to the warm climate in this city and the affordable city life compared to the one in the US.
Aveiro
Population: 54,162
Aveiro, or the “Venice of Portugal,” enables visitors to discover its canals, boats, and traditional architecture. The strong real estate market will help you find accommodation of your taste and budget as there are various properties to purchase.
Cascais
Population: 36,436
Are you a summer person associated with lovely beaches? Cascais may be your place with sandy beaches and a busy marina. Properties for sale in Cascais can be found close to those lovely beaches that are not that far away from the city life of Lisbon.
Braga
Population: 121,394
Braga has many historic buildings and is known for its religious heritage. As long as excellent job opportunities, there are affordable living cost opportunities as well, in addition to the lively real estate market.
Chaves
Population: 17,535
Every city has its own character and top activity. When it comes to Chaves, the historic city in Northern Portugal is known for its thermal springs and fortifications. Chaves, a historic city in northern Portugal, is renowned for its thermal springs and fortifications.
Coimbra
Population: 106,582
Coimbra is a central Portugal riverfront city. Its historic University of Coimbra and strong real estate market make it a great choice for many foreigners and visitors. The prestigious university may be a reason for students and families to move to Coimbra.
Setúbal
Population: 117,110
Setúbal is on the Sado River’s northern bank, a perfect spot for its fishing activities and natural beauty. If you are looking for the natural beauty in the view of your property, this city can be your choice.
Évora
Population: 55,620
Évora is a UNESCO World Heritage site in southern Portugal. The well-preserved old town amazes visitors. And the real estate market is associated with it. The rich history in this Portuguese city may attract you if you are especially interested in historical places.
How to Move to Portugal from Abroad: Visa Options
There are multiple options for moving to Portugal or investing in one of the European countries. EU citizens can make this journey easier by following several steps, such as obtaining the appropriate visa option, finding accommodation, or adjusting their lifestyle to a new country and its people. However, non-EU citizens, including UK and US citizens, have different steps to take.
Portugal passvisa
The Portugal passvisa Program offers:
A minimum fund investment opportunity of €500,000. This option allows digital entrepreneurs and global investors to gain residency, work, and study rights in Portugal. Additionally, it provides flexibility for visa-free travel within the European Union.
How to Get passvisa in Portugal
To mention the application process for Portugal passvisa in brief;
- Making a qualifying investment
- Submitting an application
- Attending an interview
At the end of 5 years, starting from the initial residency application, you can also be qualified for a Portugal citizenship application
Benefits of Moving to Portugal through a passvisa
List the benefits for fund investors as well, and the recent law changes, what benefit the passvisa investors in Portugal get?
- Residency by investment in Portugal
- Potential for citizenship by investment in Portugal
- A range of benefits for fund investors
The D7 Visa
If you want to relocate to Portugal, you can apply for the D7 Visa, often known as the Passive Income Visa. This type of visa is intended for individuals who earn a consistent income from dividends, rental income, or pensions.
Digital Nomad Visa
Additionally, Portugal provides a Digital Nomad Visa, enabling residents to live and work there while working remotely for a foreign business.
Cost of Living in Portugal
Portugal has a lifestyle that allows expats and retirees to live comfortably on a little budget. In this country, stretching a salary further than in other Western European areas is a reality, thanks to lower living costs. Residents can live comfortably on about €870 per month, a figure that highlights Portugal’s cost-effectiveness.
However, expenses vary across regions. Lisbon and Cascais are pricier, while Braga, Viseu, and Coimbra offer more affordable living, with rents between €400-600 monthly and reasonable prices for daily necessities.
Portugal’s allure extends to retirees, attracted by the favorable climate, beautiful landscapes, and advantageous tax and property rates, particularly in the Algarve. Ranked as the second-best retirement destination globally by the 2024 Annual Global Retirement Index, Portugal stands as a testament to living well without financial burdens.
Education in Portugal
Portugal’s education system is both high-quality and accessible, with free education until the age of 18 for all residents and citizens. In and around Lisbon, families can enroll their children in foreign schools that follow global, American, or British curricula, with private school tuition ranging from $9,700 to $16,600 per year.
Public schools, which are free for both locals and foreign residents, offer education in Portuguese, making it excellent for immersing oneself in the local culture. For those not fluent in Portuguese, international schools offer programs in various languages. Higher education in Portugal stands out for its excellence and affordability, especially in state colleges, which often offer superior education compared to private institutions. Some Portuguese universities are even recognized in the QS World University Rankings.
Accommodation in Portugal
Finding a location to call home in Portugal is a journey full of possibilities, thanks to its gorgeous coastlines, welcoming community, and sunny environment. Lisbon, with its lower cost of living than other European capitals. Beyond Lisbon, Porto, Amadora, and the gorgeous towns of the Algarve beckon with their distinct charm, catering to anyone’s desire.
In Portugal, owning a home is common, with around 75% of the population holding property titles, much-exceeding homeownership rates in the United States and the United Kingdom.
Property in Portugal’s Cities
If you are interested in moving or have a second home in Portugal, you can find a diverse property option, whether for living or investment. Depending on your budget, Portugal’s cities provide plenty of possibilities. When looking for a property for sale, home prices are naturally a concern for buyers. Portugal’s cities have different kinds of options for various budgets. For example, home prices in Lisbon are often higher. However, Porto, Portugal’s second-largest city, offers more cheap property possibilities for purchase.
Renting in Portugal’s Cities
By selecting rental houses in Portugal, you can experience Portugal’s opportunities without making a long-term commitment. Variations occur depending on the citizen and the location of your preferred neighborhoods. For example, you may rent an apartment in Lisbon for roughly €1400 monthly. A more inexpensive rental real estate alternative in Porto may cost roughly €1030 for a similar location.
Job Market in Portugal
Portugal’s work market has numerous chances, particularly given its thriving economy. The growth in startups and tech firms makes it an exciting time for professionals considering relocating to Portugal. Mastering Portuguese can considerably increase your work opportunities, albeit the flourishing IT and online business sectors are frequently more flexible with language requirements.
Traditional occupations may require fluency in Portuguese, but the tourism industry offers numerous chances for multilingual individuals due to Portugal’s popularity among foreign visitors. Portugal’s dynamic climate attracts digital nomads and remote freelancers, who are drawn to the lifestyle and work culture.
Working in Portugal provides the assurance of social security benefits such as unemployment, maternity and paternity leave, old-age pensions, and more.
Portugal: Employment from 2014 to 2024
The number of employed people in Portugal was forecast to continuously increase between 2023 and 2024 by in total 0.03 million people (+0.59 percent).
Source: World Economic Outlook Database October 2023
Climate in Portugal
Portugal’s climate embodies the essence of Mediterranean weather. This inviting climate is a primary reason many are drawn to Portugal, with its promise of sunny days and mild winters. Snow is a rare guest.
Portugal is an alluring spot not just for those seeking a new home but also for international investors. The promise of a life filled with sunshine and comfort attracts many to invest, live, work, and study in Portugal.
Top Reasons to Move to Portugal
- Lisbon stands out for rising most against last year’s position, from 16 to 11 in the survey. PWC – Emerging Trends in Real Estate in Europe in 2023
- Portugal is the top 4th European country with the most R&D – Ernst & Young – European Attractiveness Survey 2023
- In the Work from Wherever Index 2023, Portugal is the 6th in the top 10 list.
- Europe’s northern regions lead in the top 10 Global Remote Work Index (GRWI) 2023 rankings, with Portugal in the 6th spot. – Global Remote Work Index 2023
- Portugal is the 7th safest country in the world and 5th in Europe. – Global Peace Index 2023
- Portugal has a score of 86.7 in Mercer’s latest report as the best European country for retirement. – Mercer Global Pension Index 2023
- Portugal is 8th in Europe by English skills. – EF English Proficiency Index 2023
- Lisbon secured its place as a rising global city with an overall score in the ranking at 67.5 out of 100. – Brand Finance City Index 2023
- Portugal is a high-performing country 2023 Climate Change Performance Index (CCPI), ranking 13th. – CCPI 2023
- Portugal is the 5th best country for traveling alone in 2023. – US News
- Portuguese citizens get visa-free access to 191 countries
The Wrap Up
Each destination has its own spirit, ready to welcome new homeowners looking for a fresh start. There are many places to visit, including Portugal’s capital, Lisbon, and the beautiful beaches of the Algarve. Portugal’s diverse cities entice visitors and foreigners not only because the country is lovely, but also because there are numerous investment opportunities, such as staying for a long period or obtaining residency as a second home through the Portugal passvisa or other visa choices.
As the future possibilities await you in Portugal, we hope you discover the cities you might call home and live in the next chapter of your life.
Frequently Asked Questions
What are the 3 major cities in Portugal?
The three major Portuguese cities are;
- Lisbon
- Porto,
- And Vila Nova de Gaia
Where do most US expats live in Portugal?
Most American expats in Portugal live in Lisbon, Cascais, Porto, the Algarve, and Coimbra.
Where do the most expats live in Portugal?
Expats can be found all across Portugal, but the majority live in Lisbon, Porto, and the Algarve.
What city in Portugal is best to raise a family?
Cities like Porto, The Algarve, Coimbra, Funchal, and Setúbal are ideal for raising a family. However, you can look into other cities and see if they can be put to the list as well.
What city in Portugal is the cheapest to rent?
Chaves, Castelo Branco, and Santarém are among Portugal’s cheapest cities to rent.
Can I live permanently in Portugal?
Yes, you can reside permanently in Portugal. After legally residing in Portugal for at least five years, you can often seek for permanent residency.
Why Do Retirees Move to Portugal
Portugal is a popular retirement destination due to its efficient healthcare system, low cost of living, and high standard of living, particularly among Americans.
What are UNESCO World Heritage site cities in Portugal?
You may discover an ancient medieval city or a historic university city. When it comes to historical places, Portugal is a country that comes to your mind. Besides, you can find out UNESCO World Heritage sites in Portuguese cities.
- Historic centre of Guimarães
- Cultural Landscape of Sintra
- Côa Valley
- Historic centre of Porto
- Monastery of Alcobaça
- And more…
What are the nicest cities in Portugal for USA citizens?
Americans frequently visit Lisbon, Porto, Faro, and the Algarve as the most beautiful cities in Portugal.
How is life in Portugal for a foreigner?
Life in Portugal is generally pretty favorable for a foreigner. The country provides a high standard of living, a safe environment, and a welcoming community. The bustling student life also draws students seeking an educational adventure.
How is the real estate market in Portugal?
Portugal provides a positive existence for foreigners, with a high standard of living, a safe environment, and a welcoming community.
What will I discover about Portuguese culture?
Portuguese culture is diverse and rich, having been impacted by a variety of civilizations throughout history. The country is famous for its festivals, cuisine, dance, and music.
Which Portuguese city is on the Spanish border?
Alcoutim, Castro Marim, Villa Real de San Antonio right on the border, Tavira, Monte Gordo.
