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Portugal Golden Visa

Portugal Golden Visas: EligibleLow-Density and Interior Areas

**Notice: The Portugal Golden Visa Program hasexperienced substantial modifications this year, which has resulted in therevocation or partial modification of several property investmentpossibilities. Consult our guide on the changes to the Portugal Golden Visahere* for a detailed summary.


The Portugal Golden Visa program, also knownas the Residence Permit Program, is highly coveted worldwide. Foreigninvestment has pushed almost €4 billion into the Portuguese economy as part ofa five-year residence by investment plan for non-EU residents, with currentinterest in property investment prospects in low-density regions in Portugalexpanding.


While the Portugal Golden Visa Program allowsyou to spend a minimum of €500K in domestic or commercial property in Portugalor €350K in restoration projects, there are certain limits on where you may doso. More crucially, prices differ depending on whether a house is located in a'low-density' region of Portugal.


This guide will teach you about:


Portugal's real estate investment choices forthe Golden Visa

What parts of Portugal are suitable forresidential real estate investment

What words like "low-density,""interior area," and "280K investment" mean in legal terms


Real Estate Investments Optionsin Portugal with a Golden Visa


The following real estate investment avenuesare possible to qualify for the Portugal Golden Visa:


●     Purchase residential real estateworth at least €500,000 in selected interior regions of Portugal, or €350,000if investing in a rehabilitation project. A 20% reduction is applied if theresidential property is situated in a designated 'low-density' region(amounting to €400K and €280K, respectively).

●     Purchase commercial real estateworth at least €500,000, or €350,000 if investing in a rehabilitation project,anywhere in the nation. A 20% reduction is applied if the business property issituated in a designated 'low-density' region.

●     Purchase residential andcommercial real estate worth at least €500,000 or €350,000 if investing in arehabilitation project on either of Portugal's independent islands of Madeiraand Azores. Because Madeira and the Azores are both categorized as high-densityareas, there is no choice for a 20% discount.

Are you unsure whether real estate investingis a suitable match for you? We've put together a special guide for thisoccasion, which will lead you through the golden visa real estate investmentperks in Portugal.


What Regions of Portugal AreEligible for a Golden Visa Investment in Real Estate?


The government of Portugal wants to encourageinvestment in the following areas:


Regions with a low population density

Requalification of the city

Cultural heritage

Environmentally or socially significantactivities

Job creation and productivity


As a result, the Portuguese government hasaltered the real estate investment pathways to Portuguese residence,establishing a categorization system for which parts of Portugal qualify forproperty investment. The terms 'interior' and 'low-density' are used todescribe these locations. But there's no denying that they're two distinctwords.


Below, we break down which locations ofPortugal are suitable for property investment, highlighting the subtlevariations between 'interior areas' and 'low-density areas.' By the conclusionof this section, you should have a good idea of which parts of Portugal aresuitable for real estate investment.

What areas count as ‘interior’?


Interior regions simply refer to locationswhere you may invest in residential real estate and get a golden visa residencypermit. In contrast, there are no constraints on where commercial real estatemay be built. That is to say, you may invest anywhere in the nation as long asthe property is classed as "commercial" (licensed for business-relatedactivities).


See our map below, which highlights theinterior parts of Portugal. Property in Portugal's 'interior' regions isacceptable for both residential and commercial real estate investment. Onlycommercial properties, which are marked in blue, may be acquired outside of the'interior' restrictions.


Low-density areas


The locations in light gray on the map beloware classed as being in the low-density zone, as noted. Dark gray highlightsareas that are not in the low-density zone.


Low-density locations decide whether or notyou get a 20% discount on your investment. Low-density areas are defined asterritorial units (NUTS III) with a population density of fewer than 100 peopleper square kilometer and a per capita GDP of less than 75% of the nationalaverage.


It's worth noting that a region might be bothinternal and dense. You may still buy a house in this instance, but there willbe no discount.


Consider the following scenario: You'vedecided to invest in Algarve real estate. While the Algarve is categorized as a'low-density' area, it is not considered part of Portugal's interior. As aresult, certain areas of the Algarve are not suitable for residential propertyinvestment. Aljezur, Odeceixe, and Sagres are some of the low-density ANDinterior locations that are now eligible. In this instance, you have the optionof purchasing a home or investing in a domestic renovation project.


The regions of Portugal shown on the map beloware eligible for either:


Property investment in non-interior locationswith a high density (commercial only)

Investment in non-interior low-density realestate (commercial only)

Interior property investment in high-densityregions (residential and commercial, but no discount applies)

Investing in low-density properties in theinterior (residential and commercial, 20% discount applies)


Areas of real estateopportunities

Are you seeking to renovate a historicbuilding in the Douro Valley? Maybe you're looking to acquire a commercial shoplocation in Lisbon. Or maybe you like the notion of owning a seaside propertyin the Azores. The good news is that the Portugal Golden Visa program is abeneficial plan that provides investors with a variety of real estateinvestment opportunities. Let's take a look at some of the important locationswhere you may want to put your money.


Residential Real Estate, Interiorand Low-Density


It is completely conceivable to purchase aresidential property in a designated interior region of Portugal that is also'low-density.' Parts of the Douro Valley, Aljezur, and Peneda Gerês areexamples of locations with significant development potential that qualify forthe Golden Visa.


They offer ideal property opportunities forinvestors, with exceptional value for money, since properties in low-densityregions are often cheaper and more spacious. For about €400K, a family may havethe property of their dreams, replete with fruit trees, a decent-sized pool,and breathtaking views.


The Alentejo, Douro Valley, and Peneda Gerêsare now the most favored investment areas. All of them have excellentinvestment potential, including prospects in hotel, outdoor tourism, andcultural and religious tourism.




Reselling opportunity

Prices per m2



Rent Returns

Tourism returns

Peneda Gerês







Douro Valley















The 280k low-density investmentoption for the Portugal Golden Visa


To be eligible for the €280K low-densityinvestment option and benefit from the 20% discount, the applicant must:


Invest in a commercial restoration project ina region of the nation with a low population density.

Invest in a home restoration project in alow-density, often known as interior, sector of the nation.


The cost of investing in a rehabilitationproject in a high-density region starts at €350,000. Either the property inissue is over thirty years old and undergoing renovations, or it is located ina designated rehabilitation area. It must be in an interior location if it is aresidential property.


The benefits of using the PortugalGolden Visa 280k option to invest in low-density regions


There are several advantages to investing inlow-density regions and receiving a golden visa.


These are some of them:


Lower investment barrier and strong rental returnreturns present a great opportunity.

Low-density locations have much cheaper realestate values.

Rental apartments are highly profitable in ahealthy property market.


Purchase property on any of theislands


The Portuguese government strongly encouragesproperty investment in Madeira and the Azores. Applicants for a Golden Visa maypurchase real estate or invest in a residential or commercial renovationproject on the islands. It's worth noting that Madeira and the Azores are onlyconsidered high-density areas. As a result, no section of the islands iseligible for a 20% discount.


Real Estate for Business


Commercial real estate in Portugal is eligiblenationwide, with no limits on location. Investors wishing to purchasecommercial property or engage in commercial restoration in Portugal's majorcities, such as Lisbon, Porto, and the Algarve, are free to do so.


●     For investors searching for asecure investment, commercial yields (long-term leasing agreements) might be aviable alternative. Office space, franchise businesses, restaurants, anddeposit rooms are all examples.

●     A fantastic way to diversify yourinvesting portfolio in terms of both physical and intangible assets.

●     Long-term plan for generatingsignificant and regular returns, with the possibility for monthly, quarterly,or yearly income.


Commercial RehabilitationProjects (i.e. Hotel/Tourism)


●     Commercial propertyrehabilitation, often in the shape of a hotel, are excellent chances since theyare not confined to Portugal's interior (you can invest anywhere in thecountry)

●     Hotel developments enableinvestors to invest at a lower cost of €350K in high-density regions and €280Kin low-density areas.

●     These are turnkey projects withguaranteed returns or a buy-back after five years.


Search for Golden Visa EligibleAreas in Portugal by Parish

List of Low Density Areas inPortugal Low-density counties in Portugal include:


1. Abrantes

2. Aguiar da Beira

3. Alandroal

4. Alcácer do Sol

5. Alcoutim

6. Alfândega da Fé

7. Alijó

8. Aljezur


9. Aljustrel

10. Almeida

11. Almodôvar

12. Alter de Chão

13. Alvaiázere

14. Alvito

15. Ansião

16. Arcos de Valdevez

17. Arganil

18. Armamar

19. Arouca

20. Arraiolos

21. Arronches


22. Avis

23. Baião

24. Barrancos

25. Bej

26. Belmonte

27. Borba

28. Boticas

29. Bragança

30. Cabeceiras de Basto

31. Campo Major

32. Carrazeda de Ansiães

33. Carregal do Sal

34. Castanheira de Pêra

35. Castelo Branco

36. Castela de Vide

37. Castro Daire

38. Castro Marim

39. Castro Verde

40. Celorico da Beira

41. Celorico de Basto

42. Chamusca

43. Chaves

44. Cinfães

45. Constância

46. Coruche

47. Covil

48. Crato

49. Cuba

50. Elvas


51. Estremoz

52. Évora

53. Fafe

54. Ferreira do Alentejo

55. Ferreira do Zêzere

56. Figueira de Castelo Rodrigo

57. Figueiró dos Vinhos

58. Fornos de Algodres

59. Freixo de Espada à Cinta

60. Fronteira

61. Fundão

62. Gavião

63. Góis

64. Gouveia

65. Grândola

66. Guarda

67. Idanha-a-Nova

68. Lamego

69. Lousã

70. Marção

71. Macedo de Cavaleiros

72. Mangualde

73. Manteigas

74. Marvão

75. Meda

76. Melgaço

77. Mértola

78. Mesão Frio

79. Miranda do Corvo

80. Miranda do Douro

81. Mirandela

82. Mogadouro

83. Moimenta da Beira

84. Monção

85. Monchique

86. Mondim de Basto

87. Monforte

8. Montalegre

89. Montemor-o-Novo

90. Mra

91. Mortágua

92. Moura


93. Mourão

94. Murça

95. Nelas

96. Nisa

97. Odemira

98. Oleiros

99. Oliveira de Frades

100. Oliveira o Hospital

101. Ourique

102. Pampilhosa da Serra

103. Paredes de Coura

104. Pedrógão Grande

105. Penacova

106. Penalva do Castelo

107. Penamacor

108. Penedono

109. Penela

110. Pedo da Régua

111. Pinhel

112. Ponte da Barca

113. Ponte de Sor

114. Portalegre

115. Portel

116. Póvoa de Lanhoso

117. Proença-a-Nova

118. Redondo

119. Reguengos de Monsaraz

120. Resende

121. Ribeira de Pena

122. Sabrosa

123. Sabugal

124. Santa Comba Dão

125. Santa Marta de Penaguião

126. Santiago de Cacem

127. São João da Pesqueira

128. São Pedro do Sul

129. Sardoal

130. Sátão

131. Seia

132. Sernancelha

133. Serpa

134. Sertã


135. Server do Vouga

136. Soure

137. Sousel

138. Tábua

139. Tabuaço

140. Tarouca

141. Terras de Bouro

142. Tondela

143. Torre de Moncorvo

144. Trancoso

145. Valpaços

146. Vendas Novas

147. Viana do Alentejo

148. Vidigueira

149. Vieira do Minho

150. Vila do Rei

151. Vila do Bispo

152. Vila Flor

153. Vila Nova da Barquinha

154. Vila Nova de Cerveira

155. Vila Nova de Foz Côa

156. Vila Nova de Paiva

157. Vila Nova de Poiares

158. Vila Pouca de Aguiar

159. Vila Real

160. Vila Velha de Ródão

161. Vila Verde

162. Vila Viçosa

163. Vimioso

164. Vinhais

165. Vouzela


Parishes with a low population density inPortugal:



União das freguesias de Belazaima do Chão,Castanheiro do Vouga e Agadão

União das freguesias do Préstimo e Macieira deAlcoba




Gouveia (São Simão)




Salvador do Monte

União das freguesias de Aboadela, Sanche eVázea

União das freguesias de Bustelo, Carneiro eCarvalho de Rei

União das freguesias de Olo e Carnadelo

Vila Chã de Marão


Bouro (Santa Marta)


União das freguesias de Caldelas, Sequeiros eParanhos

União das freguesias de Vilela, Seramil eParedes Secas



União das freguesias de Arga (Baixo, Cima, eSão João)

União das freguesias de Gondar e Orbacém

Castelo de Paiva





União das freguesias de Arosa e Casteiões





União das freguesias de Querença, Tôr eBenafim

Marco de Canaveses

Várzea, Aliviada e Folhada



União das freguesias de Freixianda, Ribeira doFárrio e Formigais

União das freguesias de Matas e Cercal

União das freguesias de Rio de Couros e Casaldos Bernados



Ponte de Lima


Ardegão, Freixo e Mato

Associacão de freguesias do Vale do Neiva

Bárrio e Cepões

Beiral do Lima


Cabaços e Fojo Lobal

Cabração e Moreira do Lima







Labrujó, Rendufe, e Vilar do Monte

Navió e Vitorino dos Piães



Porto de Mós

São Bento


União das freguesias de Casével e Vaqueiros


São Marcos da Serra



Santa Catarina da Fonte do Bispo




União das freguesias de Além da Ribeira ePedreira

União das freguesias de Casais e Alviobeira

União das freguesias de Serra e Junceira

Vale de Cambra






União das freguesias de Gondomil e Safins

União das freguesias de São Julião e Silva

Viana do Castelo







São Pedro de France

União das freguesias de Barreiros e Cepões


Summarising Portugal's GoldenVisa


The Portugal Golden Visa Program is afive-year residency-by-investment program that provides eligible candidateswith permanent residence in Portugal in return for making an initial investmentin the nation. After five years of lawful presence, you may apply forPortuguese citizenship (essentially EU citizenship).


Consult our golden visa Portugal guide foradditional information on the entire range of investment possibilities availableunder the plan, as well as program conditions.

Speak with one of our advisors


When it comes to Golden Visa applications, ourstaff has a 100% success record, and we'll make sure you discover the idealinvestment for your needs.


Your personal account manager will be with youevery step of the way, saving you time when it comes to submitting yourapplication. Our staff has years of expertise and can assist you in avoidingthe problems that many Portuguese Golden Visa investors face.


Frequently asked questions aboutPortugal Golden Visa low-density options


How to qualify for the PortugalGolden Visa low-density investment option?


Investors can opt to invest in commercial realestate in need of rehabilitation and restoration starting from €350,000anywhere in the country.  A residentialreal estate rehabilitation project is also possible, but only in designatedlow-interior areas of the country. The autonomous islands of Azores and Madeiraare considered high-density AND interior, so you can buy residential realestate here.


The property in question must at least be morethan thirty years old and undergoing renovation.


A cheaper option is to invest €280K+ inrenovations projects in low-density areas. These designated areas are splitaccording to the region’s population. If the area hosts less than 100 occupantsper 1,000 square meters, it counts as a ‘less densely populated area’.


Will Portugal Golden Visa changesin 2022 affect the low-density investment option?


The Portugal Golden Visa will receive anextensive makeover, starting from 1 January 2022. With regards to real estateinvestments, the following will apply: Properties in Lisbon, Porto, and otherpopular urban coastal towns will NOT QUALIFY for residential propertyinvestments under the Golden Visa scheme, only commercial real estate.Residential real estate investment in low-density areas will continue toqualify, but only in designated ‘interior areas’ of the country. Alternatively,you can buy residential property or invest in residential rehabilitationprojects anywhere on Portugal’s autonomous islands (they’re not subject torestrictions).


What are considered officiallow-density areas of Portugal?


Low density areas in Portugal include thecountryside/eastern areas in Portugal mostly, with the exception of coastalareas south of the River Lima and North of the River Sado. Madeira and Azoresare also excluded.


Is Algarve a low-density area?


Yes, the Algarve qualifies as low-density, soyour real estate investments will automatically get a 20% discount for thePortugal Golden Visa.


Is Cascais low-density?


Cascais is not considered low-density. It’shigh-density, so no 20% discount applies to your real estate investment for thePortugal Golden Visa.


Is Faro low-density?


Faro is indeed considered low-density. Thismeans a 20% discount automatically applies to your real estate investment forthe Portugal Golden Visa.



Written by
Clara da Costa
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