Portugal provides a relaxed Mediterranean lifestyle, golden stretches of stunning coastline and beaches, excellent golf courses and lots of of authentic charm making Portugal the perfect place to start a new chapter.
In this article we cover our top 5 reasons to buy a holiday home in Portugal covering the beautiful coastlines, excellent tourist letting market, lower cost of living and tax benefits along with the great transport links on offer.
- Coastlines, cities and charming culture
Portugal is situated along the Atlantic coast of southwestern Europe and has something on offer to suit everyone from medieval castles, to cobblestone white washed villages to bustling cities and neon nightlife. We are certain that Portugal will help you find exactly what you are looking for.
One of the most popular areas of Portugal is The Algarve. The sun drenched white sandy beaches attract the main bulk of tourists and foreign home owners who are attracted by the popular coastal resorts, leisure activities and the laid back lifestyle on offer. Lagos in particular which is known for its popular surf culture whilst Carvoeiro provides a stunning coastline and dramatic scenery.
If you are looking for something amongst the hustle and bustle of the city then Lisbon is a great choice. It is Portugal’s second most popular tourist area and a global city recognised for its modern developments and is a great property hub which is incredibly attractive to those looking for a city base.
- Excellent tourist holiday letting market
Portugal is an extremely popular holiday resort meaning that any property purchased is likely to attract foreign tourists who are looking for holiday accommodation. One of the best reasons to buy a holiday home in Portugal is the consistently moderate temperatures throughout the year which mean property rental rates remain high throughout both the summer and winter months.
During the height of summer holiday makers are attracted to the warmth, golden beaches and unique coastline whereas in the winter months Portugal focuses on its huge golf tourism industry which offers unbeatable world class golf courses which are predominately used within the cooler winter months.
- Low cost of living
Compared to other European countries, Portugal’s average wage is less however this does not pose any issues as the cost of living is lower for just about everything including groceries and accommodation.
Portugal’s food costs are generally kept quite low both in restaurants and in supermarkets and there are a lot of thriving markets available offering local fruit and vegetables at reasonable prices. You can also make the most of luxuries such as local wine and olive oil which are produced locally and therefore remain inexpensive.
Accommodation costs are known to be the biggest expense for those buying holiday homes in Portugal however even within the capital the costs are considerably lower and the range of space on offer is generous. Utilities such as electricity, heating and up keep services are reasonable although you may increase this depending on the amount of heating and air conditioning required.
In general, the overall cost of living varies dependant upon the location and the lifestyle you follow. The closer you are to the cities, the more expensive the cost of living generally is. Away from the central hub and popular golf resorts, Portugal is actually home to some of the most affordable places to live compared to its neighbouring countries.
- Excellent tax advantages
If the promise of sunshine and a relaxed life isn’t enough to tempt you then be aware that the Portuguese government offer a new residents and property buyers the opportunity to enjoy a whole decade of tax relief through the non-habitual residence (NHR) tax scheme. This also means that expatriates could potentially benefit from UK rental income, capital gains on property, interest, dividends and non-Portugese employment income tax free.
Another of the largest investment attractions within Portugal is the Golden Visa residency programme which means that individuals who make significant investments in Portugal such as purchasing property will get fast tracked through the process to obtain a residency visa which could be a great post Brexit option.
- Great transport links
Transport in Portugal is extensive and offers great links due to its 3 major international airports on the mainland which are located in Lisbon, Porto and Faro. This means you can travel to Portugal from anywhere in the world. The great selection of airports to choose from means that flight prices are competitive with an abundance of low cost airlines available.
If you choose not to fly and decide to access Portugal via driving routes then you will be pleased to find the well manage network of roads which mean you can access every town and village easily. Public services such as the railway system also provide both regional and inter-regional options covering the whole country.
Furthermore, if you are looking to hop around the city of Lisbon you can utilise the metro system which connect you to 55 stations around the city and also provides further links to the airport.
If you are looking for a luxurious property or a cheap holiday home to visit in the holidays, check out Ideal Homes Portugal. Offering a diverse range of Properties all over Portugal.