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Portugal is one of Europe’s hottest spots at the moment, and we’re not just talking about the weather. More people than ever are flocking to the country for holidays and to buy property, among them some of the world’s richest and most famous people. And, whilst many are looking at the less known parts of this delightful country, its Algarve region still holds a strong attraction for a significant number and here are five reasons why.

  1. Property at great value prices
    Property prices here are at a great level and there are so many options. On top of the pricing, which is more advantageous than in similar areas of southern Europe, the rental potential is strong here, especially for investors who don’t plan to be here all year round.
  2. Fantastic tax breaks
    Portugal’s new tax legislation is paying huge dividends for the country. The tax breaks for foreign investors, especially pensioners, with non-habitual resident status, means they can receive their pension tax free for 10 years. And if you haven’t retired, there is also a cap on income tax for a range of professions for services billed from Portugal.
  3. High standard of health care
    Portugal has a national healthcare system called SNS – Serviço Nacional de Saúde and it offers residents access to low cost care. There are also excellent private hospitals and clinics available all across the Algarve, and general health insurance is always available to cover most costs.
  4. Developed expat communities and businesses

    One of the things that makes Portugal attractive to overseas buyers is the fact that there are well-developed expat communities and that they have a good relationship with local residents. Many expat communities are meshed into the local social life and a good number of newcomers have thriving business ventures within the Algarve. In the Algarve there is an exciting expat and local community spirit built around activities at pubs, sports centres, golf clubs and restaurants, which all embrace the multi-cultural scene. You’ll never feel out of place or completely away from home in the Algarve.

  5. Outstanding weather and leisure
    A fantastic year round climate, a rich cultural heritage, a celebrated cuisine and a diverse landscape that ranges from golden beaches to ripening vineyards, plus excellent golf courses and vibrant cities all combine to make Portugal and the Algarve one of the most outstanding places in Europe when you’re looking for a lifestyle that will add years of pleasure to your life.

Browse the properties for sale in Portugal at Umuzee.com

Money Corp

Portugal is on the overseas property news again. This time it is about the increase in property prices, as well as the rental income that owners can achieve. Overall growth is expected to be in the region of 4.5% in the coming year, and averaging 5.5% over the next five years.

Nationally, property prices rose by 12.8% in 2017, and by 21% in Lisbon. Real estate experts are also suggesting that buyers keep an eye on Porto for strong growth and the Algarve, always a popular destination, is also expected to perform extremely well. These are important points for overseas investors, and of course it suggests that getting into the Portuguese property market sooner rather than later is advisable.

Demand is outstripping supply in Portugal

This is the key reason to invest in Portugal – demand exceeds supply right now. So, property prices and rents are inevitably going up. Also, it seems that more owners are holding on to their properties here, clearly in anticipation that selling at a later date will give them a bigger profit. Therefore, more new build properties are needed to meet demand. An annual report by RICS/Ci Portugal, also revealed “that house price inflation picked up in the latest figures, with the price growth gauge displaying a net balance of +52%, of which is the second strongest reading since 2010, when the survey began.”

Ricardo Guimaraes of Ci said: ‘Top markets see new records every quarter and the most expensive prices previously have become just averages in the present. These quick changes have raised concerns for some respondents about developers and buyers operating in secondary locations, where prices might become unaffordable relative to local rationales.”

With Portugal’s economy also seeing positive growth compared with the past, it’s fast becoming one of Europe’s top property investment locations. Simon Rubinsohn, chief economist at RICS, said: “Indeed, employment and household incomes are rising, consumer confidence remains elevated, and credit conditions have eased further over recent months. Given this, the outlook for housing market activity appears solid as we move through 2018.”

Check out properties for sale in Portugal at Umuzee.com

Money Corp

arm of a bygone era

Lisbon has retained much of its heritage. There are still wooden trams, baroque architecture dominates the city’s centre and streets filled with herbalists, haberdashers and tailors are a welcome change from the globalisation of the modern retail environment.

#2 – The port is excellent

If you like port then Lisbon will have some of the best. Although strictly speaking, if you want the original port experience, you’ll make a visit to Portugal’s pretty second city – Porto.

#3 – Fresh pastel de natas

If you have never tasted one of these ‘custard tarts’ you do not know what you are missing. There is no other country that can make the tarts in quite the same way as the Portuguese do and if you’re in Lisbon, the place to buy them is Pasteis de Belém, although do be prepared to queue.

#4 – Lisbon’s weather

Lisbon is Europe’s sunniest capital city, boasting an average of 2,799 hours of sunshine a year, pipping Athens, which has 2,771 hours of sun a year, to the post.

#5 – Your money goes further

Portugal is one of the most affordable destinations in Europe. In fact, in its annual Holiday Money Report, the Post Office declared Portugal the second best value destination for a European getaway, after Bulgaria.

#6 – The Vasco da Gama Bridge

Lisbon’s Vasco da Gama bridge is 10.7 miles/17 km long, and it’s the longest in Europe. The striking landmark reminds some people of the Golden Gate bridge and perhaps it will become as famous as its Californian cousin.

Search Umuzee today for great property deals in Portugal.

Money Corp

 

Live in Portugal – Umuzee’s Top Reasons why you should!

Why should you live in Portugal? Overseas property buyers are looking more closely at Portugal than they have in the past. For quite some time it has been overshadowed by Spain, France and Italy by those looking for a holiday home and sunshine, but it is fast starting to top people’s lists, rather than featuring lower down, or completely overlooked altogether. There are plenty of good reasons to look at property in Portugal and we’ve put together 10 of them.

#1 Live in Portugal for The weather

Most who choose to live in Portugal do so because of the amazing weather. Like Spain, Portugal has a great climate and around 3,300 hours of sunshine annually. The Algarve is sunny in both summer and winter, although there are a couple of months when you might feel a little chilly, but you’ll still be able to see sunshine.

#2 – It’s very safe

If you choose to live in Portugal, you’ll be happy to know just how safe this country is! Compared with some other parts of the world, Portugal is ranked as the 17th safest country in the world. There is little violent crime and much of the petty crime is targeted at tourists during the summer months.

#3 – Great infrastructure

Transport hubs are well developed in Portugal and there are several airports to choose from. Rail and road travel is also excellent, making it an easy country to explore.

#4 – Good healthcare

Portugal offers healthcare that is of a high standard and at a lower costs than its neighbours. For this reason it does attract medical tourists who come for dental work, hip replacements and cosmetic surgery.

#5 – Superb beaches

The Algarve has 100 miles of stunning beaches, many with the coveted Blue Flag, which indicates the environmental quality of the beach has achieved a high standard of cleanliness and other factors, such as safety.

#6 – Live in Portugal because It’s affordable

The cost of living in Portugal is among the lowest in Western Europe, on average 30% lower than in any other country of the region. A couple could live here comfortably but modestly on a budget of as little as €1,300 per month. With a budget of €2,000 per month or more, you could enjoy a quite luxurious lifestyle.

#7 – English is widely spoken

Many Portuguese speak English and this is a big attraction for overseas buyers. It is certainly more widely spoken than in Spain and some attribute this to the fact that in Portugal, films and TV programmes in English have subtitles, whereas in Spain everything is dubbed into Spanish.

#8 – The Golf!

Yes, Portugal is extremely popular with golfers. The Algarve alone has 42 courses within a 100-mile radius and it is a top golfing destination.

#9 – A healthy lifestyle

If you are looking for the Mediterranean lifestyle, Portugal is a good choice. Not only are fresh fruit and vegetables inexpensive and locally grown, the Portuguese are the biggest fish eaters in Europe. Pollution levels are also low, which is an added bonus.

#10 – An undervalued property market

Portugal offers some of the most affordable property in Europe, largely thanks to it being overlooked for so long. And, for those who want to buy property and rent it out, this country offers the highest price-to-income ratios in Europe. Add in some of its many tax advantages, such as not taxing foreign retirees’ pension income when it is paid in Portugal.

Search for a property in Portugal on Umuzee.com now!

 

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