How do Georgia and Portugal compare line by line?
In Portugal a purchase buys a home or a rental income; residence must come from income or work. In Georgia the flat itself can carry a permit. The table sets the rules side by side without ranking them.
| Criterion | Georgia | Portugal | Source, Portugal |
|---|---|---|---|
| Price per m² | New flats: Tbilisi white frame USD 1,398, February 2026; Batumi turnkey USD 1,960, June 2026 | Median of all homes sold, second quarter of 2026: EUR 2,445; Lisboa 5,299; Porto 3,846; Algarve 3,500 | INE |
| Purchase tax, non-resident | None | 7.5% IMT on a home from 25 May 2026, plus 0.8% stamp duty | IMT Code, Art. 17; Stamp Duty Table, item 1.1 |
| Deed and registry | GEL 150 registry fee | Casa Pronta EUR 375 (EUR 700 with a mortgage) | Ministry of Justice |
| Yearly property tax | None on a home unless the family's income in the previous year was above GEL 100,000 | IMI 0.3% to 0.45% of the tax value | Tax and Customs Authority |
| Residential rent tax | 5% of gross rent | 25% of net rent; 10% on rents up to EUR 2,300 a month until 2029 | IRS Code, Art. 72; Decree-Law 97/2026 |
| Letting to tourists | No national freeze | Municipal registration; Lisbon's containment areas generally closed to new units | Decree-Law 76/2024 |
| Sale gain tax | 0% on a home held more than 2 years; 5% otherwise | Half the gain taxed at 12.5% to 48% | IRS Code, Art. 43; PwC |
| Residence from the property | Yes: 1-year permit for property valued above USD 150,000, 5-year permit above USD 300,000 | No, since 7 October 2023 | Law 56/2023 |
| Permanent residence | 10 years, or 5 on the investment permit | 5 years plus basic Portuguese (such as A2) | AIMA |
| Citizenship | 10 years and an exam | 10 years (7 for Portuguese-speaking and EU nationals) | Organic Law 1/2026 |
| Gross yield | Batumi 7.1%; Tbilisi 8.6% | Porto 5.3%; about 5.0% nationally (our calculation) | Galt & Taggart; INE |
| Currency and EU | Floating lari, flats priced in dollars; EU talks suspended in 2024 | Euro; EU member | - |
How much floor space do EUR 150,000 and EUR 300,000 buy?
| Place, price per m² | EUR 150,000 | EUR 300,000 |
|---|---|---|
| Lisboa, EUR 5,299 | about 28 m² | about 57 m² |
| Porto, EUR 3,846 | about 39 m² | about 78 m² |
| Algarve, EUR 3,500 | about 43 m² | about 86 m² |
| Portugal, EUR 2,445 | about 61 m² | about 123 m² |
| Batumi turnkey, USD 1,960 | about 86 m² | about 172 m² |
| Tbilisi white frame, USD 1,398 | about 120 m² | about 240 m² |
INE's medians mix old and new homes; the Georgian figures are new-build averages, so read the areas as orders of size. INE also found that in Grande Lisboa buyers with a foreign tax residence paid a median 47.0% more per m² than buyers resident in Portugal, and 37.5% more in the Porto metropolitan area. Both budgets clear Georgia's USD 150,000 residence line, and the larger one clears USD 300,000 if the accredited valuation agrees; in Portugal neither opens a permit.
What changed for non-resident buyers on 25 May 2026?
IMT, Portugal's municipal transfer tax, is normally banded. A resident buying a permanent home pays 0% up to EUR 106,346, then 2% to 8% on higher slices up to EUR 660,982 (IMT Code, Article 17, 2026 values); a second home starts at 1%. Decree-Law 97/2026 of 20 May added Article 17(10): a non-resident buying a dwelling pays 7.5% on the whole taxable value, normally the price, with no exemption or reduction. At EUR 100,000, that is EUR 7,500 where a resident buying a permanent home pays nothing (our calculation).
The decree states no date for this change: it has no entry-into-force article, and its Article 18 dates only other measures. The default rule of Law 74/98, Article 2(2), applies: an undated act takes effect on the fifth day after publication, here 25 May 2026 (our reading, shared by the Order of Certified Accountants). The Tax Authority's page shows the previous wording in force until May 2026.
The flat rate does not apply when the buyer:
- was previously a Portuguese tax resident;
- becomes one within two years of buying; or
- lets the home as housing within six months, at no more than EUR 2,300 a month in 2026 (2.5 times the minimum wage, our calculation), for at least 36 months, consecutive or not, in the first five years.
In the last two cases the 7.5% is paid first. The difference over the normal table is cancelled on request filed within six months of becoming resident or signing the lease (Article 17(11) and (12)); the Tax Authority's circular 40131/2026 treats it as an administrative complaint.
What do the taxes on a EUR 300,000 home add up to?
| Cost | Portugal, non-resident | Portugal, resident, own home | Georgia |
|---|---|---|---|
| Transfer tax | EUR 22,500 | EUR 10,542 | None |
| Stamp duty, 0.8% | EUR 2,400 | EUR 2,400 | None |
| Deed and registry | EUR 375 | EUR 375 | GEL 150 (EUR 52); optional notary GEL 1,536 (EUR 528) |
| Total | EUR 25,275 (8.4%) | EUR 13,317 (4.4%) | EUR 52 to 579 |
A resident buying a second home would pay EUR 14,380 in all. A non-resident who moves within two years and makes the flat a permanent home can reclaim EUR 11,958. With a mortgage, Casa Pronta costs EUR 700 and stamp duty adds 0.6% of a loan of 5 years or more plus 4% of the interest.
Casa Pronta, the registries' one-stop counter, signs the sale and registers it in one appointment, and anyone may use it. The buyer first needs a tax number (NIF), which a non-resident can get without a representative; once owning, they have 15 days to appoint one or join electronic notifications. Lawyer, notary and agent fees are market-priced and unconfirmed, so get written quotes. Georgia's tariffs are in our guide to buying costs.
What does keeping the home cost each year?
Portugal's IMI is 0.3% to 0.45% a year of the tax registry value (VPT), a formula value usually below the price. Each municipality sets its rate, and bills the owner registered on 31 December; Lisbon charges the 0.3% minimum for 2026. On an assumed VPT of EUR 150,000 that is EUR 450 a year (our calculation). AIMI adds 0.7% to 1.5% only on an individual's residential values above EUR 600,000.
In Georgia, Law No 1874 of 30 September 2026 leaves a private owner's home untaxed unless the family earned over GEL 100,000 in the preceding year; then Tbilisi and Batumi charge 0.8%.
Can a Portuguese home still lead to a residence permit?
Not on its own. Law 56/2023 repealed the property options of the investment permit (ARI), often called the golden visa, from 7 October 2023, and the remaining options may not be invested in real estate; our country comparison tool covers that history. Today a home only proves accommodation: AIMA asks an owner for the land registry certificate or its access code, alongside a visa, means, health cover and a sworn address declaration (Law 23/2007, Article 77(1)). Its value plays no part.
The ground for residence is usually one of two visas:
- D7, for people living on their own income: 12 months of means at 100% of the minimum wage for the first adult, 50% for each further adult and 30% for each child. The 2026 minimum wage is EUR 920 a month (Decree-Law 139/2025); AIMA's page still shows the 2025 figure, EUR 870, but the requirement follows the wage. A single applicant therefore needs EUR 920 a month, a couple EUR 1,380 (our calculation).
- D8, for professional work done remotely: an average monthly income over three months of at least four minimum wages, EUR 3,680 in 2026 (our calculation).
A consular checklist says means may be halved where accommodation is assured; we could not confirm that this applies to a D7 applicant who owns a home, so plan on the full sum. In Georgia the property is the ground itself; see our residence permit guide.
How many years to permanent residence and a passport?
AIMA grants permanent residence after five years of temporary residence, with means, an address, tax and social security in order and basic Portuguese, such as a CAPLE certificate or A2 (Law 23/2007, Article 80). Organic Law 1/2026 raised naturalisation from 5 to 10 years of legal residence from 19 May 2026, or 7 for nationals of Portuguese-speaking countries and EU citizens; applications pending on that date keep the old rule.
In Georgia, permanent residence follows 10 years on temporary permits, or 5 on the investment permit; citizenship needs 10 years and tests in Georgian language, history and law.
How is a long-term let taxed: 25%, 10% or 5%?
Portugal taxes residential rent at a special 25% on net rent (IRS Code, Article 72(2)); the 28% often quoted belongs to other property income. Leases of 5 years or more cut the rate by 10 to 20 points. Since 1 January 2026, rent of at most EUR 2,300 a month (our calculation) from a lease solely for housing, received up to 31 December 2029, is taxed at 10% (Tax Benefits Statute, Article 45-C, added by Decree-Law 97/2026). Non-residents pay the same rates. Georgia charges 5% of gross residential rent, with no deductions.
An example, our calculation: EUR 1,000 a month with EUR 1,000 of yearly costs gives EUR 1,100 at Portugal's 10% (EUR 2,750 at 25%) and EUR 600 in Georgia. See our guide to rental income tax in Georgia.
Can you let a Portuguese flat to tourists?
Short lets, Alojamento Local (AL), need registration with the municipality by prior notice. Decree-Law 76/2024, in force from 1 November 2024, dropped the 2023 national freeze on new registrations and gave control to councils. In a containment area a council may refuse flats let as housing in the two previous years, cap numbers and limit how long or to whom a registration passes. A condominium can ban AL by a two-thirds vote, for registrations requested afterwards. The 2023 extraordinary AL levy was repealed in 2024.
According to the law firm Cuatrecasas, Lisbon's amended regulation, in effect since 6 December 2025, generally admits no new registrations in its containment areas; we could not confirm the 2026 parish list, so ask the municipality before buying to let to tourists. AL income is taxed as business income; the non-resident rate is unconfirmed, a question for a Portuguese accountant. Georgia has no national freeze; see Airbnb in Batumi for its rules.
What do prices, rents and yields show?
INE's House Price Index rose 16.5% in the year to the second quarter of 2026, while sales fell 6.4%. The national median per m² rose 18.4% and has more than doubled since mid-2019, from EUR 1,098. Over the year to June 2026, Batumi turnkey prices rose 9.8% in dollar terms; our price index and Batumi review cover Georgia.
New Portuguese leases in the second quarter of 2026 had a median rent of EUR 10.17 per m² a month (up 10.2%), and EUR 17.79 in Lisboa. Set against the sale medians, that gives rough gross yields before tax and costs; rented and sold homes differ, so treat them as indications:
| Place | Yield | Basis |
|---|---|---|
| Portugal | about 5.0% | INE medians |
| Lisboa | about 4.0% | INE medians |
| Porto | 5.3% | Peer table, June 2026 |
| Batumi | 7.1% | Peer table, June 2026 |
| Tbilisi | 8.6% | February 2026 data |
Porto and Batumi share one method, built from Airdna and Numbeo data. Tbilisi rents are tracked in our rent index. On demand, INE counted 82.1 million nights in Portuguese tourist accommodation in 2025; Lisbon airport handled 36.1 million passengers and Faro 10.4 million in 2025, per operator figures in the press, against 8.5 million at all Georgian airports (Geostat). The measures differ, so compare only the order of size.
What is taxed when you sell?
Since 2023 only half of a Portuguese property gain counts as income for non-residents too (IRS Code, Article 43(2)(b)); the old 28% on the whole gain no longer applies. PwC, reviewed 3 October 2026, says that half is taxed at 12.5% to 48%, with the rate set by worldwide income. On a EUR 50,000 gain, EUR 25,000 enters the calculation (our calculation); the tax depends on your other income. In Georgia, a home held over two years sells free of income tax, and a gain inside two years pays 5%; see capital gains tax in Georgia.
Which priority points to which country?
| If you want | Points to | Because |
|---|---|---|
| A permit tied to the flat | Georgia | Portugal ended property routes in 2023 |
| EU residence on a pension or remote income | Portugal | D7 or D8; permanent residence after 5 years |
| Low buying costs as a non-resident | Georgia | EUR 52 to 579 against EUR 25,275 at EUR 300,000 |
| A large market in euros | Portugal | 40,142 sales in one quarter; index up 16.5% in a year |
| Higher yield, lighter rent tax | Georgia | Batumi 7.1% against Porto 5.3%; 5% of gross against 10% or 25% of net |
Compare the same budget with Spain, Greece, Montenegro or Dubai.
Risks and exceptions
- Buying in Portugal for a permit. The home only proves your address; the permit rests on income.
- Budgeting with the resident IMT table. A non-resident pays 7.5% of the whole price.
- Buying to let to tourists unchecked. Lisbon's containment areas generally take no new AL units, and a condominium can vote a ban.
- Old online figures. 28% on residential rent, 28% on the whole gain and a compulsory tax representative no longer describe the law.
Frequently asked questions
Does buying a home in Portugal give residence?
No. The golden visa's property options ended on 7 October 2023; an owned home only proves accommodation for a D7 or D8 permit.
What IMT does a non-resident pay in Portugal?
A flat 7.5% on a home bought from 25 May 2026, plus 0.8% stamp duty; part is refundable if you become resident within two years or let at a moderate rent, and apply within six months.
Is Portugal more expensive than Georgia?
Yes: a median EUR 2,445 per m² nationally and EUR 5,299 in Lisboa in the second quarter of 2026, against USD 1,960 for Batumi turnkey.
Where is rent taxed less?
Georgia, at 5% of gross residential rent, against 25% of net rent in Portugal, or 10% on moderate rents until 2029.
Sources
- Tax and Customs Authority, Portal das Finanças: IMT Code, Art. 17, Stamp Duty General Table, IRS Code, Art. 72 and Art. 43, current versions (accessed 3 November 2026)
- Decree-Law 97/2026, 20 May 2026, and Circular 40131/2026, 4 September 2026, Tax and Customs Authority (accessed 3 November 2026)
- Presentation on Decree-Law 97/2026, Order of Certified Accountants, 19 June 2026 (accessed 3 November 2026)
- Owners' rights and duties leaflet, Tax and Customs Authority, August 2025, and Lisbon IMI rate for 2026, Diário de Notícias (accessed 3 November 2026)
- Casa Pronta, Ministry of Justice, updated 28 July 2026, and Appoint a tax representative, Tax and Customs Authority (accessed 3 November 2026)
- Portugal, income determination, PwC, reviewed 3 October 2026 (accessed 3 November 2026)
- Decree-Law 76/2024, 23 October 2024, Tax and Customs Authority copy, and Lisbon AL regulation amendment, Cuatrecasas (accessed 3 November 2026)
- Law 56/2023, 6 October 2023, and Organic Law 1/2026, 18 May 2026, Diário da República texts, Tax Authority and Madeira government copies (accessed 3 November 2026)
- AIMA: residence permit, Art. 77(1), permanent residence, Art. 80 and means of subsistence (accessed 3 November 2026)
- Residency visa documentation, Ministry of Foreign Affairs; D7 checklist, VFS Global, 12 June 2025; 2026 minimum wage, Sábado, and Decree-Law 139/2025 summary, APCMC, 29 December 2025 (accessed 3 November 2026)
- INE: local house prices, 23 October 2026; House Price Index, 22 September 2026; new lease rents, 29 September 2026 (accessed 3 November 2026)
- Tourist nights 2025, RTP, and airport passengers 2025, Essential Business, 21 January 2026 (accessed 3 November 2026); Airport passengers in Georgia, 2025 (Geostat), GBC, March 2026 (accessed 19 October 2026)
- Batumi Residential Real Estate, 2Q26, Galt & Taggart, 14 August 2026, and Tbilisi residential market, Georgia Today, 31 March 2026 (accessed 12 October 2026)
- Law on the Legal Status of Aliens and Tax Code of Georgia, Legislative Herald (accessed 18 October 2026); official exchange rates, National Bank of Georgia, 3 November 2026
Change log
- - Comparison published from the Portuguese Tax and Customs Authority, AIMA, INE, PwC and Georgian law and market data.