Being a recurring income visa, no property purchase is required – however, you will be required to have a residential address in Portugal. A 1-year rental agreement or letter from a sponsor authorizing you to live in their Portuguese property indefinitely is generally acceptable to meet this requirement.
The rental agreement must be executed for at least six months, and better for a year. Just please do not pay the property owner's rent advances before the contract is signed and without documents. Be careful!
This is actually the tricky part – how to sign a long-term lease months before actually moving to Portugal and before getting your visa approved! And yes, we know the hacks to do this in the most economical way.Where to look for housing to rent:
And, of course, you can buy real estate, including mortgages.
On average, banks lend 50-70% at 2-4.5% (now the average is 3.31%). Property tax ranges from 0.3% to 0.8%, depending on the region.
The cost of renting a house depends on the region, but the most expensive city to live in – is Lisbon. Prices start at 600 euros, the average variant is 900-1200 euros.
The cost of utilities will depend on the consumption of water, gas and electricity (currently rising prices). On average, will be 150-200 euros, depending on the time of year.
Be sure to check the speed and cost of the Internet separately! Usually, telephone, internet and television are paid separately.
The average cost for internet is 30 euros a month.