Investing in Real Estate in Figueira da Foz: The Winning Bet on the Silver Coast

Published on May 2, 2026 and written by Cyril Jarnias

Wedged between the Atlantic and the Mondego River, Figueira da Foz is increasingly ticking the boxes for investors: a booming seaside town, still low prices for Portugal, solid rental yields, a very contained cost of living, and major public investments underway, particularly in the port and coastal protection. For those looking to get in early on a coastal market poised to rise, the timing is especially strategic.

Why Figueira da Foz Attracts Investors

Figueira da Foz is located in the Coimbra district, on Portugal’s central coast, at the mouth of the Mondego. The city is already a major tourist destination but is still considered “emerging” from a real estate standpoint. In other words, the fundamentals are there, but prices have yet to catch up with those of well-known hotspots like the Algarve, Cascais, or even certain areas of Porto.

The advantages are numerous: long and varied beaches (Praia do Relógio, Buarcos, Quiaios, Cabedelo, Costa de Lavos…), casino, marina, temperate oceanic climate (up to 15 °C cooler than Coimbra in summer, milder nights in winter), improved road access to Lisbon and Porto, and a sharply accelerating tourism dynamic (+30% in overnight stays in 2023).

From a real estate perspective, Figueira da Foz is described as a safe bet for those wanting to get in early on a growing market: the city is expected to expand physically, prices per square meter are rising, and several large-scale projects (port, tourism, residential) are consolidating the upward trajectory.

A Real Estate Market Still Affordable but Clearly Rising

In terms of prices, Figueira da Foz is well below Portugal’s major metropolitan areas.

Price Levels: A Coastline Still “Discount” for Portugal

The most recent data show a median price of:

– €269/sq ft for apartments

– €155/sq ft for houses

This translates to values around €1,900 to €2,300/m² depending on the source and segment. Another data set places the current average price at about €1,869 to €1,934/m², while listings in the city center hover around €2,262/m² and €1,503/m² on the outskirts.

Purchase prices in the city are, on average, nearly 30% lower than the national average, and more than two times lower than Porto for the average apartment. In the center, the price per square foot of an apartment is estimated 108.9% lower than in Porto, and even lower outside the center.

Prices by Neighborhood: Where the Best Opportunities Lie

Price differences between the various parishes and zones of Figueira da Foz are significant, allowing for tailored strategies: prime, yield, or value-add.

Price per Square Foot by Main Neighborhood

There are confirmations in price per square meter by parish: Buarcos e São Julião around €2,366/m², Tavarede around €1,908/m², São Pedro €1,884/m², Quiaios €1,310/m², Lavos €1,052/m², etc.

In practice:

– Buarcos and São Julião concentrate the most expensive properties, especially waterfront.

– Tavarede and certain areas of São Pedro or Lavos offer an interesting compromise between still reasonable prices and proximity to the sea.

– The rural parishes (Maiorca, Paião, Alqueidão, Borda do Campo) remain much cheaper and are well suited for single-family home projects, land, or rehabilitation.

Property Types and Price Ranges

The city offers a very wide range of products, from studios to prestige villas, including buildings to rehabilitate and building plots.

Some benchmarks from listings and aggregated data:

For older homes to renovate, it is still possible to find: interesting renovation projects and unique opportunities.

– Traditional houses from around €100,000

– Investment projects like this house in Buarcos to be rehabilitated, bought for €190,000 with €195,000 in planned works, with the possibility of splitting it into two units (a two-bedroom and a two-bedroom-plus-one). The setup clearly illustrates the potential of rehabilitation to create value.

High-end villas with ocean views generally exceed €500,000, with some properties reaching €1.5 million.

Example of Price Distribution by Apartment Type

We can see that the price per square meter is higher for smaller units (one-bed, two-bed, three-bed), typical of markets where rental and second-home demand is strong for these formats.

Rental Yields: One of the Most Profitable Coastlines

Figueira da Foz stands out as one of the most profitable coastal cities in Portugal for rental. Several indicators converge.

Average Yields and Payback

Overall data shows:

– Average rental yield for all apartments: 4.11%

– For an average studio: about 3.64% based on a €500 rent for a €165,000 purchase price, with another estimate showing 5.82% if rent reaches €800.

– For a one-bedroom: yields around 4.43–4.76% depending on rent (€630–680) for a price of about €170,000.

– For a two-bedroom: about 3.62–4.00% for prices of €240,000–265,000 and a median rent of €800.

– For a three-bedroom: 3.46–3.60% for a price of €295,000 and a rent of €850–890.

– For four-bedroom and up: 4.36–4.65% with rents potentially reaching €1,000–1,200.

Citywide:

– Average rent: €800/month

– Average price: €249,000

– Gross payback period: about 25.9 years

City Center vs. Outskirts

Gross yields are particularly telling when looking at the center / outside center division:

The outskirts therefore offer a higher gross yield, at the cost of sometimes slightly lower liquidity and stronger long-term demand compared to seasonal. This is a key point for “cash-flow” oriented investors.

Short-Term Rental: A Potential of 5% to 9% and More

For short-term rental (Alojamento Local), several sources estimate the average gross yield in Figueira da Foz between 5% and 9%, which is high for a Portuguese market where long-term yields typically hover around 3–6% net.

An Airbnb market analysis (318 active listings studied over a recent period) shows:

Average occupancy rates are relatively modest (median around 31%), but the best properties, well-managed, exceed 70% throughout the year. In high season, the average occupancy rate climbs to nearly 49%, with an ADR (average daily rate) of $151, compared to $118–$125 on average in intermediate and low seasons.

Studios and small one-bedroom units in good locations, especially waterfront (Buarcos, Bairro Novo, areas near the casino or Praia do Relógio), are generally those that maximize revenue per square meter in short-term rentals, provided there is professional management (photos, rating above 4.8/5, dynamic pricing, etc.).

Long-Term, Medium-Term, or Short-Term Rental: Which Model to Choose?

The Portuguese regulatory framework increasingly pushes investors to carefully choose between three models: short-term (AL), medium-term, and long-term.

Long-Term Rental

Long-term rental (12-month contracts or more) is the simplest model administratively: no special license required, only a lease agreement registered with the Portuguese tax authorities.

In Figueira da Foz, typical monthly rents are:

– One-bedroom center: €490–750, average around €560

– One-bedroom outside center: €400–550, average around €450

– Three-bedroom center: €800–900, average ~€842

– Three-bedroom outside center: €600–700, average ~€633

Furnished apartments for long-term rental generally rent between €500 and €900/month, with waterfront properties, especially in summer, at the top end of the range.

Medium-Term Rental

The market for stays of 1 to 12 months is particularly dynamic in Figueira da Foz, fueled by:

– digital nomads attracted by the sea and cost of living

– expats gradually relocating

– students and professionals on assignment in the Coimbra district

– retirees doing “life trials” before buying

This model does not require an Alojamento Local license, but allows for higher rents than long-term, controlled turnover, and smoothed seasonality. Many listings impose a minimum of 30 nights or more, which explains why nearly 41% of the city’s Airbnb listings show a minimum stay of 30 nights or more.

Short-Term Rental (AL)

Tourist rental, although more regulated (mandatory AL license, compliance with municipal rules), offers the best yield prospects, particularly for:

Gross yield can easily exceed 7–8% for the best properties. The downside: high operating costs (cleaning, maintenance, management, fees, platform costs, more complex taxation) and strong seasonality (very low in February, peaking in August).

Tax-wise, the Portuguese simplified regime means that only a fraction (35%) of short-term gross income is considered taxable profit, resulting for a non-resident in an effective rate of about (8.75%) on gross income, as long as you stay in this regime. This advantage helps offset some management and operating costs.

Where to Invest in Figueira da Foz: Breakdown of Key Areas

One of the major advantages of Figueira da Foz for investors is its intra-urban diversity. Depending on whether you are looking for pure yield, potential capital appreciation, or a quality second home, the choice of neighborhood differs.

Buarcos: The “Prime” Waterfront

Buarcos is the most expensive area for apartments (€304/sq ft median, +7% over the last observed period), with houses at €220/sq ft.

Here you will find:

– Praia de Buarcos, very popular with families

– Tamargueira and Monte Alto, with two- and three-bedroom apartments offering panoramic views of the Atlantic

– Conversion projects, such as “Project Buarcos,” a waterfront building acquired for €500,000 and being rebuilt for €703,500 to create 9 modern ocean-view apartments

Ideal area for:

– high-end seasonal rental

– medium-term capital appreciation (projects like Project Buarcos already anticipate rising resale prices, up to €4,600/m² with an increase of about 15% between two sales phases)

– second homes highly valued by national and international clientele

São Julião and Bairro Novo: Historic Center, Casino, and Leisure

The parish of São Julião da Figueira da Foz, which includes the center, shows apartment prices around €296/sq ft. The Bairro Novo district, born as a 19th-century seaside resort, concentrates:

– restored villas

– renovated older buildings

– the Casino de Figueira da Foz and a high concentration of restaurants, bars, and hotels

This is a very promising sector for short- and medium-term rental, and a good candidate for those looking for a second home in a lively environment, in immediate proximity to beaches and the casino.

Tavarede: Modern Residential in Expansion

Tavarede is slightly set back from the waterfront. Apartments there are around €254/sq ft and houses €166/sq ft (+1%). This is a typical area for:

– local families

– new construction projects (e.g., M residence condados, 16 units of one-, two-, three-bedroom and duplex with garages, or other programs like Encosta do Sol)

– long-term rental, even medium-term, with a stable clientele

Prices are lower than Buarcos or certain areas of São Julião, but the construction quality of recent developments, parking, generous floor plans, and proximity to schools and shops make it an excellent yield/comfort compromise.

São Pedro, Gala, Costa de Lavos: The Southern Seaside

On the south bank of the Mondego, around São Pedro and Gala, you will find:

Prices per square meter are lower than in Buarcos but the seasonal rental potential is significant, especially in summer. Houses in Costa de Lavos or Lavos remain affordable (around €1,052/m² for Lavos according to some data sets) and suitable for rehabilitation.

Quiaios, Maiorca, Lavos, Paião: “Value-Add” and Nearby Countryside

Parishes like Quiaios, Maiorca, Lavos, or Paião have much lower prices on houses:

These areas host: various economic activities, infrastructure, and services for the population.

– villages just minutes from the sea (Quiaios, Costa de Lavos, etc.)

– large land plots (several thousand m²) with good sunlight, road access, sometimes wells and building feasibility

– old houses to renovate, sometimes offered at very modest prices (a villa in Maiorca for €40,000, opportunities around €60,000 in Lavos)

These are perfect playgrounds for:

– investors with a more limited budget seeking high value appreciation potential through rehabilitation

– projects for countryside homes, rural guesthouses, or retirement villas

– developers looking to set up small subdivisions or rural tourism projects

Cost of Living and Net Profitability: Figueira da Foz’s Hidden Advantage

An often-overlooked aspect by investors is the relationship between local cost of living and net profitability. Figueira da Foz scores very highly on this front.

A Cost of Living Lower than Lisbon, Porto, and Even Barcelona

Comparisons available indicate:

Some examples of local prices:

– simple restaurant meal: ~€9

– dinner for two, three courses: ~€40

– monthly transport pass: ~€35

– gym membership: ~€31.25

– bread (500 g): ~€1.15

– bottle of mid-range wine: ~€3.50

Utilities for an 85 m² apartment run between €80 and €120/month, internet around €30–50, mobile about €17.

For an investor who wants to use the property part of the year or move in, this moderation of daily costs strongly improves the “felt” yield and quality of life.

Local Salary and Tenant Solvency

The average net salary in Figueira da Foz is about €971.59/month, which covers the average monthly expenses of a single inhabitant. The price-to-income ratio (8.15) and affordability indices suggest that buying remains difficult for some residents, which sustains strong rental demand, especially for well-located one- and two-bedroom apartments.

Infrastructure and Structuring Projects: What Will Continue to Drive the Market

The real estate trajectory of Figueira da Foz is not solely driven by tourism or beach fashion. It is also supported by heavy public and private investments.

Port Modernization: €21.9 Million to Accommodate Larger Vessels

A major project is underway on the port of Figueira da Foz, with a budget of about €21.9 million. The goal: to allow the berthing of longer vessels (up to 140 m) with a draft of about 8 m, in line with maritime transport evolution.

The work includes:

– deepening of the bar, navigation channel, and maneuvering basin

– widening and equipping the commercial quay

– rehabilitation of the west and east breakwaters

– creation of a new pontoon for tugs

– installation of 126 metal piles and significant concrete structures

– additional port equipment (bollards, fenders, ladders, etc.)

Coastal Protection: €27.7 Million for Southern Beaches

Another structuring project concerns coastal defense between Cova Gala and Costa de Lavos, costing about €27.7 million. It includes:

– artificial injection of about 3.3 million m³ of sand

– dune reinforcement and combatting extreme erosion (52% of the area is already classified as very severely eroded)

– transfer of sand dredged off Praia da Claridade to the southern beaches

The aim is to stabilize the beaches sustainably, secure coastal areas, and preserve the area’s tourist appeal. This massive investment in coastal protection is a positive long-term signal for the value of waterfront properties, especially in Gala, Costa de Lavos, and Cova Gala.

Residential and Tourism Projects: A New Generation of Developments

Several developers are betting on Figueira da Foz, particularly on mixed residential/tourism products:

These operations push prices upward on new build and tourism segments, but they also provide market benchmarks for individual investors buying older properties to renovate.

Legal and Tax Framework: What a Foreign Investor Needs to Know

Portugal offers a very open framework for foreign investors: no nationality restrictions on purchases, even for non-EU non-residents. Foreigners benefit from the same property rights, remedies, and protections as Portuguese nationals.

Key Steps of the Purchase

To buy in Figueira da Foz, a foreign investor must:

1. Obtain a NIF (Portuguese tax number). 2. Open a local bank account (strongly recommended). 3. Hire a lawyer for due diligence (property titles, absence of mortgages, licenses, energy certificate, etc.). 4. Sign a promissory sale contract (CPCV) with a deposit (10–30% of the price). 5. Finalize bank financing (for those using a loan). 6. Sign the deed of sale (escritura) and proceed with registration at the land registry.

Acquisition Costs

The main items are:

– IMT (transfer tax): progressive scale based on property value and use. Some sources mention a reform with a 7.5% rate for non-residents above a certain threshold, but in practice, the scale remains segmented (0% to 8% for properties up to about €574,000, 6% between €574,000 and €1M, 7.5% above).

– Stamp duty (Imposto de Selo): 0.8% of the price.

– Notary and registration: around €250 each.

– Lawyer fees: typically 1% to 2.5% of the price.

In addition: IMI, an annual property tax of 0.3% to 0.45% of the tax value for urban properties, and possibly AIMI (additional tax) for large real estate holdings.

Bank Financing

Portuguese banks finance non-residents with loan-to-value ratios often between 60% and 70% (compared to 80–90% for residents). Fixed interest rates over 20 years are around 4.4–4.8% on average (4.39–4.80% depending on the source).

Golden Visa: An Updated Context

It is no longer possible to obtain a Golden Visa through residential real estate purchase since October 2023. Current pathways rely on:

– investment in funds (from €500,000)

– cultural contributions (from €250,000)

– job creation through business investments (at least 10 jobs, or 5 with €500,000 in capital injected)

– research projects (minimum €500,000)

For an investor interested in Figueira da Foz, real estate remains compatible with other types of visas (D7 for passive income, digital nomad visa, etc.), these programs generally requiring a rental contract or property purchase to prove residency.

Management and Operation: The Importance of a Local Partner

Figueira da Foz attracts many non-resident investors, making delegated management a central link in the strategy.

Several actors (agencies like Invest Smart, managers like Host Wise, Belion Partners, companies specializing in short-term rentals, or platforms like Fixando) offer:

Long-term management fees generally range between 8% and 15% of annual rent, while for seasonal rental, full professional management can cost 15–25% of gross income, sometimes more if the offer includes marketing and advanced revenue management.

Experience shows, however, that even after these fees, well-calibrated professional management increases net profitability by 10% to 15% compared to amateur management, mainly due to better pricing, higher occupancy rates, and reduced vacancy periods.

Comparison with Coimbra and Major Portuguese Hubs

The other major city in the district, Coimbra, illustrates the complementarity of Figueira da Foz:

– Coimbra: market oriented toward long-term rental, especially student and academic, estimated yields between 4% and 7%, prices about 50–60% lower than Lisbon, neighborhoods like Baixa, Solum, Santa Clara in high demand.

– Figueira da Foz: strong seaside orientation, higher yields in seasonal rental (5–9%), rising market but still undervalued compared to Algarve/Cascais hotspots.

Compared to Lisbon, Porto, or the Algarve, Figueira da Foz remains much more accessible in terms of entry ticket, while offering an interesting combination of:

– capital appreciation potential (rapid increase in prices/m² in recent years)

– decent rental yield in long-term and very attractive in short-term

– high quality of life at a moderate cost

For an investor looking to diversify their portfolio in Portugal, adding an asset in Figueira da Foz allows complementing an exposure already concentrated on major metropolitan markets.

Which Investor Profile for Figueira da Foz?

The characteristics of the local market suit several typical profiles.

In all cases, careful selection of location (beach accessible on foot or not, proximity to the casino and center, road connection, noise level, wind exposure) remains crucial to optimizing value and liquidity at resale.

Conclusion: A Market Still Undervalued, But Not for Long

Figueira da Foz today brings together a set of conditions rarely aligned in a single European coastal town: purchase prices significantly lower than major national cities, competitive rental yields, booming tourism, a low cost of living, massive investments in port infrastructure and coastal protection, and a varied real estate offering, from villas to small vacation units.

Cyril Jarnias

Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.

On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.

Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.

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