Real Estate Investment Cascais, Portugal: Your Expert Guide

cascais

Cascais, the highly sought-after town situated on the Portuguese Riviera, is a favorite with lifestyle buyers and property investors. Located just a short 30-minute drive from Lisbon, Portugal’s cosmopolitan capital city, you will be able to enjoy the very best of city life while enjoying the beach and tranquility of charming seaside living. Property investors will find Cascais to present an array of opportunities, with a wide assortment of luxury property types on the market and excellent potential to secure a strong return on your investment.

In this Real Estate Investment Cascais guide, we’ll provide you with a comprehensive overview of this splendid town in Portugal and why snapping up property here is the ultimate dream for many investors and lifestyle buyers. We will also delve into some of the best locations to buy Portuguese property in and around charming coastal town of Cascais.

Why invest in the Cascais real estate market?

body-cascais-bre+property

Cascais has proven to be one of the top locations in Europe for expats to move to, with lifestyle buyers, families, retirees, and property investors all capitalizing on what the market has to offer.

The proximity to Lisbon is a massive draw as in 30 minutes, you can be enjoying the bright lights of one of the most captivating cities in Europe.

Watersport fanatics have everything they need, while families will find some of the best international schools in the country close at hand. And for property investors seeking to capitalize on their investment, they’ll find strong rental yields and high demand whereby they can secure a strong return on their investment. You are also strategically located close to Lisbon airport, just 40 minutes away, making it easy for international travel. Whichever way you look at it, Cascais can deliver.

An Overview of Cascais's Real Estate Market

portugal-state-property

Cascais is very well-known, with several celebrities, including football sensation Cristiano Ronaldo, having snapped up properties here. When it comes to the property market, Cascais offers varied options, with an array of property types on the table, from modern apartments in the town center to beach villas and from spacious houses to properties close to world-class golf courses.

In this section, we’ll provide you with a rundown of the real estate market in Cascais.

The current state of the real estate market in Cascais, Portugal

Alongside boasting a diverse portfolio of properties, the town has a robust tourism sector that offers lucrative rental prospects, especially during the peak season. With its upscale ambiance and strategic location, Cascais has emerged as one of the most attractive destinations for discerning investors seeking long-term growth potential.

Key property trends in Cascais

Investing in Portugal real estate has been on investor’s radar for many years now. When it comes to Cascais, the property market has proved to be resilient in the past few years and has shown steady growth. Private villas and luxury properties make up a significant proportion of the housing market, where demand for luxury villas and residences continues to grow alongside property values.

Expats from all walks of life have also settled on the Portuguese riviera, with the area providing modern amenities, meeting healthcare needs, and hosting excellent international schools, leading many families to relocate here to embrace a high quality of life.

Property prices in Cascais

The average asking price for properties in Cascais stands at €5,835 per square meter. Note that this is the asking price and the sales price can be significantly lower than this as sellers aim to sell by a set date. Below you can see the average asking prices for the different areas in Cascais. 

Area

Property Price

Cascais e Estoril

€7,330

Alcabideche

€5,032

São Domingos de Rana

€3,709

Carcavelos and Parede

€5,231

Luxury properties will cost more than this, with prices starting at around €500,000 with no upward limit. Prices will vary depending on the size and location, plus if the property comes with additional amenities, such as a private gym or swimming pool.

Real estate investment Cascais: Rental yields

During the third quarter of 2023, rental yields in different neighborhoods varied: Cascais e Estoril stood at 4.8 percent, São Domingos de Rana at 5.7 percent, Carcavelos and Parede at 5.9 percent, and with the overall yield for Cascais standing at 5.6 percent.

The future of Cascais’s real estate market

The Cascais property market looks set to continue to flourish in the future, where both rental accommodation and houses are predicted to see an increase in value throughout 2024, with foreign investment and a thriving tourism industry influencing this growth.

While Cascais is already a popular tourist destination, the town has been identified as one of Portugal’s travel hotspots for 2024.

Exploring Cascais Real Estate for Sale: Town and Area Guide

The Portuguese Riviera is one of the best places in Portugal for purchasing real estate, with some stunning coastal locations providing unrivaled beauty. In this section, we delve into some of the best areas to kickstart your property search in and around Cascais.

Cascais and Estoril

As we’ve mentioned, Cascais is one of the most desirable locations to buy property in Portugal and stands as an incredibly sought-after destination for property investment, boasting a rich historic charm, luxurious lifestyle and a diverse array of offerings to entice potential investors. In many ways, Cascais is the ultimate destination for lifestyle buyers. From opulent luxury estates to modern apartments and a bustling yacht marina, you’ll find a vast array of options on the table.

Quinta da Marinha is a top choice to consider, where you’ll find splendid properties while being located a little outside the town center, providing you with more space and stunning ocean views. If you are moving with your family, areas like Birre and Bicesse, close to Estoril, offer spacious homes with gardens that could be good options to consider. 

Nestled within Cascais are several enchanting beaches, including the centrally located Praia da Rainha and the scenic, if slightly windy, Praia do Guincho just north of the city, a favorite with surfers. The nearby Sintra Cascais Natural Park adds to the area’s allure; close to Alcabideche (more details below), it provides residents with stunning natural landscapes to explore and where you’ll find quiet, secluded, sandy beaches and stunning palaces nestled in the heart of the Sintra mountains.

Moving eastward, Estoril presents spacious waterfront properties, complemented by the picturesque Estoril promenade, where there’s no better place to be to watch a deep red sunset with a cocktail or ice cold beer in hand. Venture a short way from the Tagus Rive and you’ll find spacious mansions and detached houses just a stone’s throw from the beach, many of which come with large gardens or private swimming pools.

Both Cascais and Estoril are particularly appealing to families relocating to Portugal, thanks to the wide selection of world-class international schools you’ll find here, such as Park International School, St António International School, St Julian’s School (near Carcavelos), St Dominic’s International School, and St John’s International School.

Carcavelos and Parede

Carcavelos is very popular with Lisbon residents looking for a lovely beach close to the city and in the summer months you’ll find numerous day-trippers heading here. This seaside spot has a relaxed vibe and is located between Lisbon and Cascais, the perfect spot to enjoy the best of both worlds, the beach life and the city life. Away from the beach located, you’ll find quieter spots and some incredible houses, many of which have large gardens where you can spend the summer in style. 

Parede, just to the west of Carcavelos, is home to the Avencas and Parede beaches, along with a selection of top-notch restaurants and terrace bars lining the waterfront promenade. Buying property in Carcavelos or Parade could be a smart move as many tourists and locals look to pay Carcavelos a visit. Plus, with the NOVA University Lisbon also located here, there is potential to invest in long-term rentals to cater to the student population. 

Alcabideche

Alcabideche, located to the north of Cascais and Estoril, borders the Sintra Cascais Natural Park and offers enchanting sights like the colorful Pena Palace and the dramatic Castle of the Moors. Nature lovers will be in their element and can indulge in hiking and cycling adventures, exploring the wonderful natural beauty of this region. 

Additionally, its proximity to the serene and less crowded beaches of Praia da Ursa and Praia da Adraga enhances its appeal. Here, you’ll be able to enjoy some of the very best beaches in the area, without the heady stream of tourists that you find in beaches close to the Portuguese capital. 

For golf enthusiasts, there are world class golf courses that are excellent courses within easy reach, with Penha Longa Resort standing out as a top option for you to get your golf fix.

Families in search of quality education will find many international schools nearby, such as IPS-International Preparatory School and St. James’ Primary School, both well-regarded for their excellence in international education.

São Domingos de Rana

São Domingos de Rana offers the most affordable homes for sale in Cascais, with this neighborhood being located behind Carcavelos and Parede. Being close to the sea and away from the bustling tourist areas, this remains a tranquil area even in the busy tourist season. 

Another major plus is that São Domingos de Rana is that it’s just a 20-minute drive from Lisbon. You will also find spacious properties here, and with many schools close at hand, this is also a top location for families to consider.

Property Types in Cascais

cascais

As we’ve mentioned, you’ll find an array of property types in and around Cascais, many of which come with waterfront views and additional amenities, such as private parking, additional security, private gyms, or swimming pools. Below are some of the main property types you will come across. 

Houses for sale in Cascais

You will find that houses for sale in Cascais come in all shapes and sizes, from small houses close to the town centers to larger, spacious mansions a little out the city, many of which open up onto large streets and which are just a short distance from a beach or two. Houses for sale in Cascais are top options for families moving to this part of Portugal, as they generally offer more space than apartments and often come with a garden. 

Modern apartments

Investing in apartments within the Cascais municipality presents an appealing opportunity, given the town’s increasing appeal to both residents and visitors. Apartments offer the potential for reliable passive income or the possibility of capital appreciation over time.

Waterfront properties

The coastline and ocean views of the Portuguese Riviera entice investors to explore waterfront real estate. You will find a wide selection of Cascais, Portugal real estate beachfront properties, with many of them boasting breathtaking ocean views. Popular with tourists, waterfront properties are also an attractive investment option should you be considering renting out your property. 

Luxury properties in Cascais

For some of the most exclusive properties in Portugal, you should check out Cascais. Whether you are looking for a stunning apartment with a lush interior and endless ocean views or a spacious property with a massive garden, you’ll find a wide array of property types. Simply wander down some of the streets in the area, where you will be fascinated by the beauty and intricate design of some of the properties and gardens that you pass. 

Commercial and touristic real estate

The allure of Cascais draws tourists throughout the year, presenting an appealing investment avenue. Such properties encompass hotels, holiday homes, serviced apartments, and units within resort-style developments.

Commercial properties: Offices and retail

Investing in office spaces in Cascais can be a smart investment, fueled by a burgeoning local economy and a surge in business establishments. Similarly, retail spaces in this tourist hotspot present opportunities for shops, boutiques, and restaurants, catering to both residents and tourists alike.

Hotel Ventures

Given Cascais’s sustained visitor growth, investing in hotel projects holds considerable profit potential. The hospitality sector in Cascais offers promising returns on investment.

Short-Term Rentals

The surge in platforms like Airbnb has fueled interest in vacation rentals and short-term lettings. Cascais’s attractiveness to tourists and its proximity to Lisbon position it as a popular option for such investment opportunities and where you’ll be able to secure a nice return on your investment.

Lifestyle in Cascais

Cascais-portugal

Cascais has been renowned for its high quality of life and sought-after lifestyle hub for over a century due to its popularity in the 1870s driven by its association with King Luís I of Portugal and the Portuguese royal family. Every summer, the royal family would choose Cascais as their residence, drawing in nobility and boosting interest in this area. 

In recent years, Cascais has maintained its status as a premier destination, enticing foreign expats in search of their ideal property and even attracting celebrity figures. Ian Fleming, for instance, frequented neighboring Estoril, where he enjoyed martinis and derived inspiration for his James Bond novels from Hotel Palacio, which remains one of the very best hotels in the country. More recently, Portuguese footballer Cristiano Ronaldo acquired a lavish residence in Quinta da Marinha, in Cascais, adding to the town’s allure.

Buying Property in Cascais

luxury property lisbon

There are no restrictions on foreigners buying property in Cascais, or anywhere else in Portugal for that matter, and the steps to secure property are quite straightforward. Below, we provide a short overview of the key steps in the buying process. 

Key steps in the buying process

The process of buying property in Portugal can be broken down into the following five steps.

  • Step 1: Familiarize yourself with the real estate market and define your requirements
  • Step 2: Search for the ideal property in Cascais
  • Step 3: Negotiate and finalize your offer with the seller
  • Step 4: Proceed with the Promissory Contract (CPCV), which states all the clauses and conditions of the sale
  • Step 5: Finalize the process by signing the Escritura (Final Deed) and applying for the Land Registry Certificate

We highly recommend having a real estate agent or buyer’s agent assist you with the purchase. However, note that real estate agents work on behalf of the seller and will secure a higher commission for a higher sale. Working with a buyer’s agent, such as Goldcrest, your interests are protected as they solely represent your needs. We also recommend working with a real estate lawyer to ensure you will face no complications with the legal intricacies when buying property.

Challenges and Risks

contact us

Property investment is a big commitment, and you’ll want to ensure that you are aware of the pitfalls that come with buying property in Portugal. In this section, we’ll provide you with some tips so that you know what to look out for. 

Have a clear understanding of the Cascais real estate market 

Before delving into investing in Cascais property for sale, it’s essential to have a good understanding of the real estate market. This entails conducting extensive research on property pricing averages, supply and demand dynamics, local regulations, and ongoing market trends. What is the capital appreciation value of the property? Is this a good location to invest in property in Cascais? Seeking guidance from seasoned experts familiar with the market can help identify investment hotspots. 

Conduct thorough due diligence checks

Conducting due diligence is crucial before finalizing any property purchase. Verifying both the property and the seller ensures you don’t face any legal complications further down the line. Working with an experienced real estate lawyer will be pivotal here to protect your interests and ensure everything runs smoothly. 

Market dynamic and external factors

Some things in life are controllable, and others are not, and when it comes to purchasing real estate in Cascais Portugal, this is no different. Bear in mind that market volatility and economic influences are inherent to the real estate sector, including the Portuguese market. Factor in potential returns and consider how economic variables such as inflation rates could affect your investment decision and property prices.

Property Taxes and Costs

documents-program

Foreigners purchasing property need to be mindful of various taxes, both during the acquisition process and on an ongoing basis. In this section, we’ll briefly delve into the taxes and fees to consider. 

Taxes at the time of property purchase

When buying property in Portugal, ensure you are up to speed on the following taxes. 

Property Purchase Tax ( IMT)

Property Purchase Tax, also referred to as Property Transfer Tax or IMT (Imposto Municipal Sobre as Transmissões Onerosas de Imóveis) is a transfer tax that you will to pay when buying property. The rate ranges from 0 to 7 percent, depending on property types, value, location, and whether it will be the buyer’s primary or secondary residence.

Stamp Duty

If you buy property in Portugal you will also need to pay Stamp Duty, one of the oldest taxes in Portugal. Property transfer transactions will be subject to stamp tax at a rate of 0.8 percent. 

Taxes to pay annually

Below are the taxes you will need to pay annually. 

Municipal Property Tax (IMI)

The Municipal Property Tax (Imposto Municipal sobre Imóveis) (IMI) in Portugal is an annual obligation for property owners, that varies depending on the municipality. Rates typically range from 0.3 to 0.5 percent for urban properties and up to 0.8 percent for rural ones. IMI is calculated based on the property tax value (VPT), not the purchase price, working out nicely for buyers as the VPT is usually much lower. It’s worth bearing in mind that properties undergoing rehabilitation in designated areas may qualify for an IMI exemption for three years, extendable to five years if the property is your primary residence.

Portuguese Wealth Tax (AIMI)

If you are looking to invest in the Portuguese real estate market and your property is valued at over €600,000, you will be required to pay AIMI. 

For properties valued between €600,000 and €1 million, the tax rate is 0.7 percent, while properties valued between €1 million and €2 million incur a tax rate of 1 percent. Properties valued above €2 million are subject to a tax rate of 1.5 percent.

Cascais Real Estate Investment: Turning your Vision a Reality

Cascais should be on the radar for all international buyers, given the history and unique charm of this picturesque seaside town. From families to international investors, countless expats have jumped on the property market ladder to soak up the lifestyle or capitalize on owning property in Cascais, with the popularity of the town projected to grow amongst tourists and longer-term renters in the future.

Be Global Properties: How We Can Help

The most difficult part of turning your vision of the perfect home into a reality is getting the ball rolling and knowing just where to start. 

BE Global Properties is the discerning property investors’ gateway to meticulously curated properties. Look no further when searching for your next dream home or investment property in the Portuguese luxury real estate market. Explore our exclusive real estate listings, carefully handpicked to ensure we only show the very best properties out there.   

Contact BE Global Properties today and start your journey to find your global haven.

Frequently Asked Questions about Cascais Real Estate

What are the best areas for investment in Cascais?

For prime property investments, consider areas like Quinta da Marinha, Cascais town center, and Estoril. These locations offer luxury villas, proximity to beaches, golf courses, and excellent amenities, attracting both local and international buyers. Plus, these locations are favorites with tourists, so you should be able to secure a nice return on your investment should you wish to rent your property out.

Is Cascais a good area for families?

Yes, Cascais is ideal for families due to its safe environment, excellent schools such as the International Christian School of Cascais, and family-friendly activities. Areas like Birre and Bicesse offer spacious homes with gardens, and easy access to beaches and the Sintra Cascais Natural Park, where you’ll be able to enjoy spending more time with your children. 

What are the main perks of living in Cascais?

Living in Cascais means enjoying a high quality of life with beautiful beaches, a vibrant cultural scene, excellent healthcare, and easy access to Lisbon. The town also boasts a relaxed Mediterranean lifestyle, attracting both locals and expats. 

What is the average price of a property in Cascais?

The average asking price for properties in Cascais stands at €5,835 per square meter.

How can I find property for sale in Cascais?

You can do some online research through searching for keywords such as “real estate Cascais Portugal” and utilizing online platforms to get an overview of the real estate market. Be Global Properties have carefully created the ultimate platform where we handpick the very best properties on the market. You can also speak with real estate agents or buyers’ agents, such as Goldcrest, to assist you with finding your dream property. 

Is now a good time to invest in property in Cascais?

Yes, now is an opportune time to invest in Cascais property. The town’s real estate market continues to show resilience and growth, with increasing demand from both domestic and international buyers, making it a promising investment destination. Tourism here also continues to flourish, with the charming seaside town being on many tourists’ bucket list. 

Can foreigners buy property in Cascais?

There are no restrictions on foreign property ownership in Cascais, or in Portugal in general. Foreign buyers enjoy the same property rights as Portuguese citizens, making it an attractive option for international investors. The process of property acquisition in Portugal is relatively straightforward, although we recommend working with an experienced real estate professional to guide you through the property purchasing process. 

How long does it take to buy a house in Cascais?

The process typically takes around 1 to 4 months, although this will depend on factors such as due diligence, negotiating with the seller, obtaining the correct documents, and other requirements. 

Is it expensive to buy a house in Cascais?

While Cascais offers diverse housing options, prices can be relatively high compared to other Portuguese regions due to its desirable location and amenities. However, compared to major European cities, Cascais still presents good value for property buyers. Similarly, if you compare the prices of luxury properties in Cascais with other similar sought-after seaside towns in Western Europe, you’ll find prices to be reasonable. 

Why is Cascais an attractive location for purchasing real estate?

Cascais is an excellent choice for long-term real estate investment due to its stable market, strong rental demand, and potential for capital appreciation. The town’s popularity as a tourist destination and its proximity to Lisbon ensure sustained property value growth.

Where do expats live in Cascais?

Expats often reside in neighborhoods like Cascais town center, Estoril, and Carcavelos. These areas offer diverse amenities, good international schools, and a thriving expat community, making them popular choices among foreigners relocating to Cascais.

What are the best beaches near Cascais?

Cascais boasts several stunning beaches, including Praia do Guincho, known for its surfing conditions, and Praia da Rainha, a charming cove in the town center. Other favorites include Praia da Conceição and Praia da Ribeira. Carcavlos beach is also terrific, and a favorite with locals looking to enjoy a beach day close to Lisbon. 

What is the best area of Cascais to live in?

Quinta da Marinha is highly regarded for its luxury homes, golf courses, and proximity to beaches. Meanwhile, Estoril offers a blend of upscale living and historical charm, making it a preferred choice for many residents.

Is Cascais a good place to live?

Absolutely, Cascais offers a high quality of life with its stunning coastline, rich cultural heritage, and excellent schools and healthcare facilities. Whether you seek a relaxed beach lifestyle or easy access to Lisbon’s cosmopolitan offerings, Cascais caters to diverse preferences.

What are the tax implications of real estate investments in Cascais for international investors?

Property taxes that you will need to pay upfront include Property Purchase Tax/Property Transfer Tax (IMT) and Stamp Duty, while on an annual basis, you will need to consider Municipal Property Tax (IMI) and Portuguese Wealth Tax for properties valued at over €600,000. Additionally, potential Capital Gains Tax implications upon property sale should be considered.

What types of properties are available for investment in Cascais?

Cascais offers diverse investment opportunities, including luxury villas, modern apartments, and spacious homes. You will also find many properties with stunning ocean views or properties that come with a private swimming pool. Each property type caters to different investment goals, whether it’s rental income, capital appreciation, or for personal use. Many new builds are increasingly using sustainable materials and focusing on energy efficiency. 

Is Cascais a good place for long-term real estate investment?

Absolutely, Cascais is an excellent choice for long-term real estate investment. Its stable market, strong rental demand, and potential for capital appreciation make it an attractive option. Cascais looks set to continue to be a prized location in the future, and, with its desirable lifestyle and strategic location, Cascais offers enduring value for investors.

Article Menu

Related

superhead

Get in touch now

Be First to Know

Subscribe to our newsletter now to receive exclusive information directly in your inbox.


BE Global Properties Ⓒ 2024