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For many years, buying property in Portugal was one of the most popular ways to obtain Portuguese Citizenship. This route was especially attractive under the Golden Visa program, which allowed non-EU investors to gain Portugal residency through real estate purchases.
Applicants could purchase property worth €500,000 or more, or invest in a rehabilitation project with a minimum of €350,000. By maintaining their investment, they become eligible to apply for Portuguese citizenship after five years. This made Portugal a top destination for property investors looking for European residency.
This guide explains your current options for Portugal residency and how to reach Portuguese Citizenship through legal, updated paths. We’ll also look at how buying property still plays an important role in your long-term plans, even if it’s no longer a direct route to the Golden Visa.
Portugal Golden Visa Real Estate: What Changed?
In 2023, major changes have been made to the Golden Visa rules. The government decided to remove real estate as an eligible investment type. This change came in response to concerns about rising property prices and limited housing availability for local residents. Now, applicants must use other approved methods to qualify for residency and citizenship.
Even though property no longer qualifies for the Golden Visa, owning real estate in Portugal still has many benefits. It can support other visa applications, like the D7 Visa, which requires proof of stable income and accommodation. Property ownership also shows a strong connection to the country, which is useful when applying for Portuguese Citizenship.
Old Portugal Golden Visa Property Options
Before the 2023 reform, investors could qualify for the Golden Visa through several real estate investment options.
Residential Property Investments
Residential properties located in designated interior areas of Portugal required a minimum investment of:
- €500,000 for standard purchases
- €350,000 for rehabilitation projects
If the property was located in a designated low-density area, the investment threshold could be reduced by 20%, lowering the minimum investment to €280,000.
Commercial Property Investments
Commercial properties could be purchased anywhere in Portugal with similar thresholds:
- €500,000 for standard purchases
- €350,000 for rehabilitation projects
- Low-density areas also qualified for the 20% reduction.
Property in Madeira and the Azores
Investors could also purchase property on the Portuguese autonomous islands of Madeira and the Azores.
These properties followed the same thresholds:
- €500,000 standard purchase
- €350,000 rehabilitation investment
Although these options are no longer available, they played a major role in the early success of the Golden Visa program.
What Are the Current Golden Visa Investment Options?
Even though property investments are no longer eligible, the Portugal Golden Visa program continues with several alternative investment routes.
Investment Funds
Investors can invest a minimum of €500,000 in regulated venture capital or private equity funds governed by Portuguese legislation.
These funds must have a maturity of at least five years and invest primarily in Portuguese companies.
Cultural Donation
Often referred to as the Cultural Golden Visa, this route requires a minimum contribution of €250,000 to support artistic production or cultural heritage preservation.
In designated low-density areas, the investment may be reduced to €200,000.
Scientific Research
Investors can contribute €500,000 or more to research and development activities conducted by Portuguese scientific institutions.
If the investment is made in a low-density area, the threshold may be reduced to €400,000.
Business Investment
Investors can establish or expand companies in Portugal with a minimum investment of €500,000, provided that the investment creates or maintains at least five permanent jobs.
Job Creation
Another option is creating ten full-time jobs in Portugal. In low-density areas, the requirement may be reduced to eight jobs.
Get In Touch With a Portugal Golden Visa Specialist
Portugal Residency Advisors® has assisted numerous international investors in securing residency in Portugal through the Golden Visa Program. Get in touch with a specialist today and discover how we can support you in starting your investment journey in Portugal.
Buying Property in Portugal after the Golden Visa Changes is Still a Smart Idea
Even though property no longer qualifies for the Golden Visa, buying real estate in Portugal remains a smart financial and personal decision. It offers long-term value, steady income potential, and a chance to enjoy life in one of Europe’s most welcoming countries. For many people, purchasing property is still an important step in building a future in Portugal.
Portugal’s housing market continues to show strong demand, especially in cities like Lisbon, Porto, Faro, Madeira, and tourist-friendly regions such as the Algarve.
Porto is now preparing to host the Michelin Guide Gala in 2025, highlighting its growing international reputation for food and culture. With more commercial properties converting to homes and high global demand, it’s also a top-ranked luxury real estate market.
Madeira adds a touch of exclusivity and natural beauty. Ranked the third most exclusive destination in Europe, it has hosted the 2024 World Golf Awards.
These areas offer not only beautiful surroundings but also stable or growing property values. Buying in the right location can result in steady rental income. You can earn from short-term holiday lets or long-term tenants, depending on your plans.
Owning a home also helps with visa applications like the D7, which requires proof of accommodation. Whether you use the property as your primary residence, a seasonal home, or a rental, it strengthens your connection to the country. This connection can support your case when applying for Portuguese Citizenship later.
Real estate can also be a safety net. If visa rules change, you still own a physical asset in Portugal. The property may also be passed on to family or sold later for a profit. In short, while it may not guarantee citizenship on its own, property ownership remains a wise part of a broader plan for those seeking Portugal residency and long-term settlement.
Can Foreigners Still Buy Property in Portugal?
Yes. The removal of real estate from the Golden Visa program does not mean foreigners cannot buy property in Portugal.
International buyers can still purchase residential or commercial property freely throughout the country. If you are considering investing, you can read our detailed guide on buying property in Portugal, which explains the process, costs, and legal steps involved.
Portugal remains one of Europe’s most attractive real estate markets thanks to its:
- strong tourism sector
- growing international population
- stable property market
- high quality of life
Cities such as Lisbon, Porto, and the Algarve continue to attract international buyers seeking long-term investments or lifestyle properties.
However, property purchases no longer grant residency through the Golden Visa program.
How We Can Hep
Local Expertise
We know Portugal. Due to our extensive local knowledge, we believe that concentrating our services in a single country destination is the best way to give you the most thorough and useful information.
Holistic Approach
One single channel of communication for the entire process. We provide you with a comprehensive service that covers all aspects of your investment and Golden Visa application.
Transparent Service
We recommend what’s best for you based on an extensive process experience that saves time and money to clients. Our pricing is clear and competitive, and we don’t sell services that make us more money.
Simple Process
Technology plays a very important role in our company. We minimize our clients’ involvement in paperwork. We are customers ourselves and we know how to serve you.
Your Questions Answered
Can I still buy property for the Portugal Golden Visa?
No. Since October 2023, purchasing property in Portugal no longer qualifies for the Golden Visa program. The government removed real estate investments from the list of eligible options as part of housing reforms aimed at improving affordability.
Did Portugal cancel the Golden Visa program?
No. The Portugal Golden Visa program still exists, but the real estate investment route was removed. Investors can still qualify through other options such as venture capital funds, cultural donations, scientific research contributions, or business investments.
What replaced Golden Visa property investments?
The most popular alternative today is investment funds, which require a minimum investment of €500,000 in regulated Portuguese venture capital or private equity funds. Other options include cultural contributions, research funding, and job creation investments.
Can foreigners still buy property in Portugal?
Yes. Foreigners can still freely purchase residential or commercial property in Portugal. However, buying property no longer provides eligibility for the Golden Visa.
Why did Portugal remove real estate from the Golden Visa?
The Portuguese government removed property investments from the program to help reduce pressure on the housing market, particularly in cities such as Lisbon and Porto, where property prices had increased significantly over the past decade.
Portugal Golden Visa properties were once the most popular investment route for obtaining residency in the country. However, since October 2023, real estate investments are no longer eligible for the program. Today, investors seeking the Golden Visa must consider alternative options such as investment funds, cultural donations, scientific research contributions, or business investments.
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