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.
- 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.
- 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.
- 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.
- 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.
- 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.
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