Nestled along the glittering coastline of Portugal lies one of the country’s most sought-after destinations: Cascais. As a real estate agent who has been helping international clients find their dream homes in this picturesque town, I can attest to its charm and appeal. From its stunning beaches to its vibrant cultural scene, Cascais has something for everyone. But it’s not just a place to visit – it’s a place to call home.
As someone who has lived and worked in Cascais for years, I can personally attest to the unique lifestyle and investment opportunities that this town offers. Whether you’re looking for a luxurious villa with breathtaking ocean views, a cozy apartment in the historic center, or a chic townhouse in a trendy neighborhood, Cascais has it all.
But it’s not just about the real estate – it’s about the lifestyle. For me, living in Cascais means enjoying long walks along the promenade, savoring fresh seafood in local restaurants, and soaking up the sun on its beautiful beaches. It’s about feeling a sense of community and belonging, surrounded by people from all over the world who have chosen to make Cascais their home.
In this guide, I will share with you my personal insights and experiences about Cascais real estate, from navigating the local bureaucracy to finding the best investment opportunities. Whether you’re a first-time buyer or a seasoned investor, I will provide you with practical tips and advice to help you make the most of your investment in this unique and vibrant town. So let’s dive in and discover the magic of Cascais real estate together.
Why is Cascais so expensive?
Cascais, a charming seaside town located just a short distance from Lisbon, has become a popular destination for expats and investors. It’s no wonder why, with its beautiful beaches, stunning architecture, and vibrant cultural scene. However, with this popularity comes a higher price tag. So, why is Cascais so expensive?
Location, location, location
First and foremost, Cascais is located in a prime spot on the coast of Portugal. Its proximity to Lisbon, just 30 minutes by car or train, makes it an ideal location for those who want to enjoy the city while still having access to the beach and all the activities it has to offer. It’s also conveniently located near the airport, making travel easy for those who need to commute for work or pleasure.
High demand for real estate
As more and more people discover the charm of Cascais, the demand for real estate in the area has skyrocketed. This has caused prices to rise, making it more difficult for some to afford a property in the town. However, this demand also means that investing in real estate in Cascais can be a smart choice for those who are able to make the investment.
Luxury amenities and lifestyle
Cascais is a town that prides itself on its luxury amenities and lifestyle. From high-end restaurants and boutique shopping to world-class golf courses and marinas, there’s no shortage of ways to indulge in the good life. This lifestyle comes with a price tag, though, as these amenities and services can be costly.
Strict building regulations
Another factor contributing to the high prices of real estate in Cascais is the town’s strict building regulations. These regulations help to maintain the charm and character of the town, but they also make it more difficult and expensive to build new properties or make major renovations to existing ones.
As a real estate agent in Portugal, I have worked with many clients who are interested in buying property in Cascais. One client in particular, a family from the UK, was drawn to the town’s charm and lifestyle. However, they were initially surprised by the higher prices compared to other towns in the area. After discussing the reasons behind the higher prices, they were able to make an informed decision about investing in a property that suited their needs and budget.
Practical tips for investing in Cascais
While the higher prices in Cascais may deter some investors, there are still opportunities to make a smart investment in the town. Here are a few practical tips:
- Work with a knowledgeable real estate agent who can help you navigate the market and find the best options for your budget and needs.
- Consider investing in a property that needs some renovations or upgrades. This can help to lower the initial cost and provide potential for a higher return on investment in the future.
- Think about the lifestyle you want to have in Cascais and look for properties that offer the amenities and services you value most.
- Be patient and do your research. The real estate market in Cascais is competitive, but there are still opportunities to find a great investment if you take the time to look.
Ultimately, while the higher prices in Cascais may be a barrier for some, the town’s charm, location, and luxury lifestyle make it a sought-after destination for those who can afford it. With the right approach and guidance, investing in real estate in Cascais can be a smart choice for those looking for citizenship and residency by investment options, current expats, and investors.
Is Cascais expensive to live?
As a Portugal real estate agent, I have helped many international clients looking for residency or investment opportunities in beautiful Cascais. One of the most common questions I get asked is whether or not Cascais is an expensive place to live.
The answer is, it depends. Cascais is certainly one of the more affluent areas of Portugal, and as such, it can be more expensive than other parts of the country. However, it’s important to keep in mind that the cost of living is relative, and what may be considered expensive to some, may be considered reasonable to others.
Factors that impact the cost of living in Cascais
There are several factors to consider when assessing the cost of living in Cascais. Here are some of the most significant ones:
- Housing: One of the most significant expenses in any budget is housing costs. Depending on the type of property you’re looking for and the location within Cascais, you may find prices to be higher than other areas. However, it’s worth noting that Cascais has a variety of properties, ranging from luxurious villas to more affordable apartments, so there are options for different budgets.
- Food and drink: The cost of groceries and eating out can vary depending on where you shop and dine. There are plenty of supermarkets and local markets in Cascais where you can find reasonably priced produce and products. Eating out at restaurants or cafes can be more expensive, particularly in tourist areas, but you can find affordable options if you know where to look.
- Transportation: If you plan to rely on public transportation in Cascais, you’ll find the costs to be reasonable. The town has a reliable bus system, and it’s easy to get around. However, if you choose to own a car, keep in mind that fuel and maintenance costs can add up quickly.
- Entertainment and activities: Cascais offers plenty of entertainment options, from museums and art galleries to outdoor activities like surfing and hiking. While some activities may come at a cost, others are free or very affordable.
Personal anecdotes and practical tips
While the cost of living in Cascais may be higher than other parts of Portugal, it’s essential to remember that the town has a lot to offer. I’ve helped many clients who have fallen in love with the area and have found ways to make it work for their budgets. Here are some practical tips to help you manage your expenses:
- Shop locally: Local markets and grocery stores can offer more affordable options than larger chain supermarkets.
- Explore the outdoors: Cascais has plenty of outdoor activities to enjoy, from hiking and cycling to swimming and surfing. Many of these activities are free or very affordable, and they provide an excellent opportunity to enjoy the town’s natural beauty.
- Research before you dine out: Some restaurants in tourist areas may charge higher prices, so it’s worth researching your options before you go out to eat. Additionally, consider cooking at home instead of eating out every day.
- Choose your housing wisely: The cost of housing can vary greatly, depending on the location and type of property. Consider your budget and lifestyle when choosing your home, and don’t be afraid to negotiate prices with landlords or agents.
As with any place, it’s essential to do your research and consider your lifestyle and priorities when making decisions about residency or investment opportunities. As a seasoned real estate agent, I am always available to provide insight and guidance to those looking to make the move to Cascais.
Can I buy real estate in Portugal as an American?
Are you an American looking to buy real estate in Portugal? The good news is that, yes, you are able to purchase property in Portugal as a non-EU citizen. In fact, many Americans and other international buyers have already invested in real estate in Portugal, particularly in the coastal town of Cascais.
Why invest in Cascais?
Located just west of Lisbon, Cascais is a picturesque coastal town known for its beautiful beaches, vibrant nightlife, and rich history. It’s also a popular destination for expats and international investors, thanks to its favorable tax laws, high quality of life, and growing economy.
What are the requirements for buying real estate in Portugal?
If you’re an American looking to buy property in Portugal, there are a few requirements you’ll need to fulfill:
- You’ll need to have a Portuguese tax number, which you can obtain by visiting a tax office or hiring a lawyer to assist you.
- You’ll need to have a Portuguese bank account, which you can open by visiting a local bank branch.
- You’ll need to sign a promissory contract, which outlines the terms of the sale and requires you to make a deposit (usually around 10% of the purchase price) to secure the property.
- You’ll need to hire a notary to draw up the final sale contract and register the property in your name.
What are the costs associated with buying real estate in Portugal?
There are several costs associated with buying property in Portugal, including:
- Transfer tax (IMT), which ranges from 6-8% of the property value
- Stamp duty (IS), which is 0.8% of the property value
- Notary fees, which vary depending on the size and complexity of the sale contract
- Legal fees, which vary depending on the lawyer you hire and the services you require
- Real estate agent fees, which are typically 5% of the purchase price (paid by the seller)
How can I finance my real estate purchase in Portugal?
If you’re unable to pay for your real estate purchase in cash, you may be able to finance your purchase through a Portuguese bank. However, keep in mind that mortgage rates in Portugal can be higher than in other countries, and you’ll likely be required to make a higher down payment (typically around 30% of the purchase price).
What should I consider before buying real estate in Portugal?
Before investing in real estate in Portugal, it’s important to consider the following:
- Your budget and financing options
- Your goals for the property (e.g. holiday home, rental property, primary residence)
- The local real estate market and property values
- The cost of living and quality of life in the area
- The tax implications of owning property in Portugal
Ultimately, buying real estate in Portugal can be a smart investment for those looking to diversify their portfolio and enjoy the benefits of living or vacationing in a beautiful, vibrant country like Portugal.
How expensive is Cascais?
If you’re considering moving to Portugal, Cascais is a beautiful coastal town that’s worth considering. Located just 30 minutes from Lisbon, Cascais offers a quieter and more relaxed lifestyle than the capital, while still being within easy reach of all the amenities you might need.
But how expensive is Cascais, exactly? Well, it depends on what you’re looking for. As with any location, there’s a wide range of prices depending on the size, location, and type of property you’re interested in. However, overall, Cascais is considered to be one of the more expensive areas in Portugal.
Property prices in Cascais
According to data from Idealista, one of Portugal’s leading real estate portals, the average price per square meter in Cascais was €3,703 in January 2021. This is significantly higher than the average price per square meter in Portugal as a whole, which was €1,141 in the same month.
Of course, this is just an average, and prices can vary widely depending on the specific location and type of property you’re interested in. For example, a small studio apartment in the center of Cascais might cost around €150,000, while a larger villa with a sea view could easily cost several million euros.
Cost of living in Cascais
Property prices aren’t the only factor to consider when thinking about how expensive Cascais is. The cost of living is also an important consideration. Again, this can vary depending on your lifestyle, but overall, Cascais is more expensive than some other parts of Portugal.
For example, according to data from Numbeo, the cost of living in Cascais is around 26% higher than in Lisbon. This is mainly due to the higher cost of housing, but other factors like food, transportation, and entertainment can also be more expensive in Cascais.
Investing in Cascais
Despite the higher costs, many people choose to invest in Cascais because of its location, natural beauty, and high quality of life. If you’re considering investing in property in Cascais, there are a few things to keep in mind:
- Consider working with a local real estate agent who can help you find the best deals and navigate the local market.
- Be prepared to pay cash or have a significant down payment, as Portuguese banks can be cautious about lending to foreign investors.
- Consider renting out your property as a vacation rental to help offset costs.
With the right approach and guidance, investing in Cascais can be a great way to enjoy all that Portugal has to offer.
Coimbra, Portugal is a hidden gem for anyone looking to invest in real estate or move to this charming city. With a welcoming community, beautiful landscapes, and a growing economy, Coimbra offers an exceptional quality of life to everyone. Whether you’re looking to invest in the Golden Visa program or pursue a long-term residency, the Portuguese immigration policies are flexible and favorable to international investors. With our expertise in local bureaucracy and investment opportunities, we are confident that you will find the perfect property and seamless transition to Coimbra. So why wait? Contact us today and start your journey towards owning a piece of this beautiful city.
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