British expats: Property boom in Portugal as houses sell in less than a week

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According to data from property experts, idealista, 14 percent of houses purchased in Portugal in February were sold in less than a week. Another 15 percent were on the market for less than a month.

Only 13 percent of houses sold in Portugal in February had been on the market for longer than a year.

The majority of quick selling houses were located in Faro in the Algarve and Funchal on the island of Madeira.

Just under a quarter of houses purchased in February in both cities sold in less than a week.

Houses in the northern city of Porto were also quick to sell, with just under 20 percent off the market within a week.

Évora, Setúbal and Coimbra were the next most popular cities with over 10 percent of houses only remaining on the market for a week.

Portugal is fast becoming a popular destination for British expats with many seeing it as a cheaper alternative to Spain.

The Portuguese capital, Lisbon, is the most affordable capital in Western Europe and offers expats a high quality of life.

Meanwhile, the Portuguese Algarve is a popular retirement destination with many top golf courses.

Prices are higher close to the Algarve coast although expats can find a bargain by buying in smaller villages.

British expats can qualify for an attractive Portuguese golden visa but will need to meet minimum investment requirements.

Expats will need to spend more than 500,000 euros (£419,512) on a property in heavily populated areas of Portugal to qualify.

However, Britons willing to settle in quieter areas will only need to spend 400,000 euros (£335,612) to qualify.

Expats can also qualify if they buy a house in need of renovation. It must be older than 30 years old, in a qualifying area and buyers must spend at least 350,000 euros (£293,773) on renovations.

Lisbon was recently named as one of the healthiest cities in the world by analysts at

The study was based on the number of sunny hours, green spaces, gyms and access to healthcare.

As one of Europe’s hilliest cities, British expats won’t struggle to meet their daily step count target.

Britons looking to buy a holiday home in Portugal will be able to spend 90 out of every 180 days at the property.

As non-EU citizens, Britons must comply with Schengen zone rules and could be detained or face fines if they break the rules.

However, many British people find that 90 days is more than enough time to spend at a holiday home.

If Britons want to spend more time in Portugal, they will need to apply for residency or a golden visa scheme.

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