Algarve (Portugal) Opportunity

[Eric Bjor]

I'm interested in investing in real estate overseas, and am looking at an opportunity to purchase a 3 bdrm ground level condo (new - 2021 build) to use as an airbnb type investment. I've owned revenue property locally in the past; this would be my first time venturing into an overseas market. Wondering if anyone with direct experience in Portugal has any advice or pitfalls to avoid? 

[Joshua Beneventi]

@Eric Bjor Olá! I would definitely suggest that you take a trip to the region in which you'd like to invest. The Algarve has increasingly become an "expat colony" of sorts... so finding reliable property management shouldn't be difficult - however, I think proper due diligence would be to spend some time on the ground getting to know the people that might be managing your property. Also consider other regions that aren't on many people's radars yet, such as Comporta and surrounding areas (in some of the surrounding municipalities you can still qualify for the Golden Visa in 2022 + other programs that incentivize investment and urban rehabilitation... if you are interested in that sort of project). And make sure you are working with a good Portuguese lawyer familiar with American / international RE laws. Let me know if you need any recommendations if you aren't already working with someone.