Updated: November 27, 2024

 

Algarve-luxury-real-estateFrom the bright lights of Lisbon to the captivating historic city of Porto, from the sun-drenched Algarve to the quaint towns that line the Silver Coast, Portugal has much to offer expats. You also have the stunning Madeira Island, off the coast of Northeastern Africa, and the Azores, in the middle of the Atlantic Ocean, the two autonomous islands of Portugal.

If you are looking for real estate to buy in Portugal, then having a top real estate agent in Portugal to assist you is important, particularly if you do not speak the language or are unfamiliar with the property market or the buying process.

The Portuguese real estate market is fragmented, and there is no single place to find all the available properties. In addition to this, search engines often provide incomplete information.

As such, working with a real estate agency can save you valuable time and provide key insights to help you discover the perfect property. You will also be able to tap into their local expertise, and they will guide you through the often-challenging process of snapping up a home in Portugal.

In this article, we’re going to provide you with some key information on the Portuguese real estate market before focusing on important considerations to bear in mind when choosing a top real estate agent in Portugal.

Understanding the Portuguese Real Estate Market

The Portuguese real estate sector is dynamic. Given the vast array of property types, incredible locations – from beachside villas to country homes – and investment potential, expats and investors from all walks of life have their sights set on Portugal.

GC-ICON-81Overview of the market

Over the past few years, property prices in the real estate sector in Portugal have increased quite rapidly, particularly in key cities and highly desirable areas such as Lisbon, Porto, and the Algarve. Price increases have been fueled by a shortage of housing supply and increasing demand. However, with this in mind, Portugal remains an affordable country to buy property in, particularly if you compare Portugal with other Western European countries.

GC-ICON-57Property prices in Portugal

Property prices in Portugal are generally much more affordable than properties in other Western European countries, although Lisbon does have its own price range and prices will also increase if you buy in a prime location, or secure a property with additional features, such as a swimming pool, private gym, and other amenities.

Property prices the Lisbon Metropolitan Area stand at €4,061 per square meter, rising to €6,009 in Lisbon City, while in Porto, Portugal’s second largest city, prices stand at €3,291 in the Metropolitan Area, rising to €4,296 in Porto City.

The average asking price for property in the sought-after Algarve is €3,897, although prices will vary considerably depending on where you buy in the region. For more affordable properties, the Alentejo, North, and Center of the country provide excellent value for money, with prices standing at €2,685, €1,864, and €1,740 per square meter, respectively.

GC-ICON-93Luxury real estate

Luxury buyers will discover an array of luxury real estate across the country, from Lisbon and Porto to the Algarve. If you are interested in buying luxury property, you should also consider Comporta Portugal real estate and Melides Portugal real estate, both located in the stunning South West region, less than an hour and a half south of Lisbon.

Porto, and the Algarve have recently been included in the top ten emerging luxury real estate markets in the world, according to the Knight Frank’s Wealth Report 2023, highlighting their desirability amongst luxury property buyers.

Looking to buy property in Portugal? Check out our ultimate buying guide.

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Finding the Right Real Estate Agent

A property is a significant investment. You’ll want to work with a real estate agent that you trust and that you have a connection with to assist you in uncovering your dream property at the best price. In this section of our Real Estate Agent Portugal article, we provide some insights into how to find a real estate agent in Portugal for you.

Do your research

The first step is to get to grips with the Portuguese real estate market, including price ranges, property types, and potential locations where you’d like to buy a property. You can do this using property portals and using other online sources. Following this initial research, you can then conduct online searches and look on real estate websites to scout out potential real estate agents.

There are many investment properties in Portugal to choose from, whether you are looking to buy in the stunning Algarve or the cosmopolitan capital of Lisbon. One of the most important steps that shouldn’t be rushed is determining which part of Portugal you wish to live in.

When seeking a real estate professional to work with, if you have recommendations from family, friends, or acquaintances, then this can be a good place to start. When you’ve carried out sufficient research, you can make a list of potential real estate agents.

GC-ICON-71Narrow down your search: Testimonials and reviews

Once you have made a list of the top real estate agents in Portugal, you can begin narrowing down your search. You can do this by checking their credentials, in addition to testimonials and reviews made by international clients. Ensure that the Portugal real estate agent speaks both English and Portuguese, has good local knowledge of the market, and has an adequate level of responsiveness.

Finding an English-speaking real estate agent in Portugal is not as difficult as most agencies have bilingual consultants. Real estate agents can act as property hunters and assist you by providing you with a variety of properties that meet your requirements.

They have a wealth of knowledge and local insights

The fact that the real estate market is in a constant state of motion, it is important to understand the intricacies and the factors at play. For this, the expertise of an experienced local agent is incredibly important for a successful purchase. They will have the latest data on their side, utilize the latest technologies, and be able to provide local tips to streamline the process or suggest prospective locations you had not considered previously.

Make sure that they are licensed professionals

It’s important to ensure that the real estate professional that you ultimately opt for has a valid license. You should confirm that the real estate agent you work with has an AMI license number. The AMI license number is a number issued by the IMPIC (Instituto dos Mercados Públicos, do Imobiliário e da Construção), a key government body that regulates property matters and real estate agencies in Portugal. You can check whether a real estate agent is certified on the IMPIC website.

You can find more checking whether a real estate agency is certified in this article by our residency and citizenship division, Global Citizen Solutions: The AMI License in Portugal.

Ask targeted questions

When you are honing in on the right real estate agent for you and are speaking with prospective real estate agencies, ask targeted questions. Look for examples of how the real estate agency has helped other international buyers in a similar situation to yours, and make sure to ask them about their process.

Monitor their communication skills and determine whether you can see yourself working with them. There are many real estate agencies in Portugal, so determining the right one for you is essential.

Find an agent well connected with other key services

If you are investing in property in Portugal, you will likely be requiring other services. Find a good real estate agent that has a strong network and is well-connected to key industry players. This includes real estate lawyers, property surveyors, architects, interior designers, Portuguese furniture brands, and mortgage and financing consultants.

With many years of experience, Goldcrest has a good relationship with many key industry players who can help you with settling in Portugal, from mortgage brokers to tax consultants. Additionally, if you are seeking a good property management company, we can also assist you.

We highly recommend working with a Portugal real estate lawyer when buying property in Portugal. They will help you understand Portuguese property laws and regulations, including due diligence checks and background checks on the seller, to ensure that all legal matters are followed correctly.

Qualities of a Top Real Estate Agent: Five Key Considerations

Madeira real estate agentBelow are five key considerations that you should bear in mind when choosing the right real estate agent for you to help you uncover your dream property, whether you are looking to buy Lisbon real estate, a beach house in the Algarve, or a modern apartment in Porto.

  1. They will have your best interests at heart.
  2. Check their credentials and ensure they are fully licensed with an AMI license number.
  3. They are experienced in working with foreign buyers and can give examples of how they have helped buyers in a similar position to your own.
  4. They have clear and transparent pricing.
  5. They are locals who you feel have a real understanding of the Portuguese real estate market right now, and they can give tips and suggestions to help you consider properties, neighborhoods, or regions that you had not previously considered. For example, if you are considering the Algarve because of the stunning coastline, natural beauty, and beautiful beaches, a real estate agent may suggest the Silver Coast as a quieter alternative. Also, if you’re looking for a family-friendly neighborhood in Lisbon, a real estate professional can outline protective locations.

Book a complimentary call to discuss your options with our team of experts today.

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What is the difference between a real estate agent and a buyer's agent?

The primary distinction between a real estate and a buyer’s agent lies in the representation of the parties involved. A buyer’s agent solely advocates for the buyer, facilitating their property purchase and providing a service tailored towards the buyer’s needs.

On the other hand, a real estate agent is dedicated to serving the seller. While a real estate agent will likely have your best interests at heart, this is worth bearing in mind when purchasing property in Portugal. This is a key reason why choosing a good buyer’s agent over a buyer’s agent can be a smart decision over other real estate professionals.

Factors

Real Estate Agent

Buyer's Agent

Work Scope

Facilitates transactions for various parties

Exclusively works for the buyer throughout the process

Search & Selection Assistance

May present options, but not solely focused on buyer's needs

Focuses on finding options that suit the buyer best

Representation

Represents the seller's interests primarily

Solely represents the buyer's interests

Conducting Legal Checks

May overlook some legal checks for buyer's benefit

Ensures thorough legal checks for buyer's protection

Language Assistance

Language proficiency may vary

Proficient in the buyer's language

Negotiation

Represents seller's interests in negotiation

Negotiates exclusively for buyer's benefit

Documentation Handling

May not prioritize all necessary documentation

Ensures all required documentation is in order

Time and Cost Savings

May not optimize for time and cost efficiency

Saves time and money by focusing on buyer's needs

Commission

Earns higher commission for higher sale prices

Does not earn based on sale price, focused on buyer

Conclusion

There is no one-size-fits-all when it comes to real estate agencies, and the right real estate agent for you may be very different from another buyer. As we’ve mentioned, it can be a smart move to work with a buyer’s agent who works on behalf of the buyer and ensures their interests are met, while real estate agents usually work on behalf of the seller.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

  • Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
  • Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
  • Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
  • Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
  • Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.

You can read more here: Why Work With Goldcrest to Buy Property in Portugal?

Frequently Asked Questions about How to Find a Top Real Estate Agent in Portugal

In Portugal, a buyer’s agent represents the buyer exclusively, ensuring a hassle-free property purchase, and provides assistance throughout the process, from sourcing your dream property through to acquisition. In contrast, a seller’s agent works for the seller. They are focused on real estate sales. While they will probably have your best interests at heart, this crucial difference is a key reason why working with a buyer’s agent may be a good idea to secure the right investment for your needs and ensure you have all the information required to make an informed decision.

In order to operate legally in Portugal, an estate agent be certified by INCI (Instituto da Construcao e do Imobiliario) and have an AMI license number. Real estate agencies are strictly regulated, making it easy to confirm the credentials of an agent. You can check whether real estate companies in Portugal are certified on the IMPIC website.

Working with a real estate agent or a realtor in Portugal ensures expert guidance on property laws, real estate market insights, and makes the entire process of snapping up your dream home in the country much easier. Agents streamline the buying process, negotiate favorable terms, and their local expertise can be invaluable for smooth transactions. For example, if you are looking for a real estate agent in Alentejo, or in Lisbon, find professionals who have helped foreign buyers purchase their dream home in these locations.

Bear in mind that it can be a better move to work with a buyer’s agent, who works on behalf of the buyer, while real estate agents in Portugal typically work on behalf of the seller.

To discover a top-notch real estate agent in Lisbon, Portugal, conduct thorough online research, scrutinize client feedback, seek local recommendations, and conduct interviews to assess their capabilities and professionalism.

To locate an experienced real estate agent in Porto, Portugal, research reputable agencies, consider agents with a history of successful deals, ask for referrals, and interview real estate agencies to assess their experience and knowledge of the local market

To locate a top real estate agent in Algarve, Portugal, conduct online research on reputable agencies, seek agents with specialized Algarve expertise, obtain recommendations from locals or expats, and conduct interviews with the real estate company to evaluate their knowledge and professionalism.

To find a reputable real estate agent on Portugal’s Silver Coast, seek recommendations from local expat groups, review agent profiles, and check for AMI certification, ensuring legal authorization. Find an agent who has extensive experience working with buyer profiles similar to your own.