Buying and Investing In Portugal
You could be forgiven for thinking it's all about long games of golf, lazy strolls on the beach and large glasses of port. As a starter that's not bad but there's much more to Portugal than most people first realise.
25 Reasons For Buying and Investing In Portugal Property
- Good residency options - Residency options are varied with one of the most popular being the D7 Visa for retirees or those in receipt of a passive income. In October 2022, Portugal launched a new Digital Nomad Visa, thus demonstrating the government's commitment to initiatives to attract new residents and investors alike.
- Excellent tax advantages. The non-habitual residency scheme (NHR) is a tax regime that can offer huge tax benefits. The Portuguese government abolished inheritance tax several years ago with a stamp duty of just 10% (Imposto do Selo) that may need to be paid. Hurry though as this scheme will come to an end sometime in 2024...
- Golf - The golf phenomenon refuses to slow with more than 90 courses to choose from across the country and the islands.
- Best Beach Destination - For the tenth time, the Algarve, in southern Portugal, has been voted as "Europe's Leading Beach Destination" at the 2023 World Travel Awards. No other destination has won this award, which honours travel and tourism, so many times.
- Natural Beauty - Strict planning permissions secure natural beauty and limit the supply of new properties thus keeping demand high. For example, Quinta do Lago as part of the UNESCO Ria Formosa bird sanctuary has a strict 8% building restriction. This, combined with excellent facilities for the entire family, help to ensure that the area will continue to be a unique destination and that your investment will prosper.
- Stability - The country is politically stable and has no known terrorism. It is ranked as the 7th most peaceful country in the world according to the Global Peace Index 2023.
- High Rental Yields - Great properties with low prices for high quality and high rental returns. According to statistics expected gross rental yields in Portugal are among the highest in Europe, from 5% to 14% is achievable from the right property.
- Cultural Richness. One of the oldest and richest cultures in Europe and the legacy of its former wealth and power can be seen in its historical sites. Among the sites inscribed in the UNESCO World Heritage List, 13 are located in Portugal.
- Easily Reachable - Portugal is close, easy to reach and affordable. With flight times less than a few hours from most of Western Europe, an abundance of airports and low-cost airlines and as little as 6 hours across the Atlantic from Boston to Lisbon.
- Welcoming People - The Portuguese are some of the oldest British allies, after the Treaty of Windsor in 1386. They are warm, friendly and welcoming whether you are on holiday or a new neighbour.
- Sports in abundance! Portugal offers every type of water sport, surfing, plus horse riding, football and even skiing in the north - there won't be time to lie on the beach.
- They Speak English! Portugal is a very high English-proficient country scoring an average score of 625 on the EF EPI proficiency test. This makes it the 9th best country in the world for English speakers.
- Eating Out - You'll be pleased to know the price of food and drink remains incredibly low and a 3-course meal at lunchtime - a 'prato do dia' - dish of the day can be less than €10 including wine.
- Affordable - Running costs (gas, water and electricity) together with public transport costs are almost a pleasure to pay! Utilities are relatively cheap compared to most other European countries.
- Top Class Healthcare - Healthcare here is top class with many affordable private schemes available. In the 2023 Euro Health Consumer Index, Portugal holds the number 13 slot for public healthcare.
- Afforable Housing - Based on the prices in the UK, Ireland, Spain and France, property prices in Portugal are still very affordable and allow the option of downsizing to release equity.
- Unbeatable Climate - The combination of hot summers cooled by the Atlantic breezes and warm winter days makes the climate unbeatable. Rain keeps the country green but with short heavy bursts, it's rare for it to be grey for too long. And the light is incredible!
- Excellent Transport Infrastructure - With three main airports and new motorways spanning north to south and east to west it's easy to navigate and the roads are incredibly un-congested - even in summer. Public transport by road or rail is frequent, safe and very affordable for those not wanting to drive.
- Low Population Density - It is a beautiful country and the government keeps it that way with strict planning regulations. That keeps the long beaches, countryside and wonderful pine forests free for us to value and enjoy. Portugal has one of the lowest population to land densities in Europe.
- Culinary Delights - With the Atlantic on its doorstep and some of the best growing conditions in the world, some of the finest fish and meat dishes can be enjoyed here at remarkable prices. With the deliciously popular red, white, rose and vinho verde wines you won't be rushing dinner!
- Great for Investors - The property market is dynamic with property prices continually increasing and with 27 million tourists visiting in 2019 (the last 'normal' year before Covid-19) this is causing a scarcity in rental property - much to the delight of investors.
- The weather! Portugal has over 300 days of sunshine a year.
- Business opportunities - the Portuguese market is well known now for being open to technological innovation. It is now much easier to do business in Portugal and the European Union has recognised it as one of the countries that have the most reduced bureaucracy.
- Innovation and technology - Lisbon was the first city in Europe to set up a network of electric car charging stations. Lisbon has Europe's best fibre optic network and Portugal has pioneered banking and telecommunications services. Close to 63% of the electricity in Portugal comes from renewable sources.
- Work Ethics - Portuguese people have incredible work ethics, appreciate time and know how to balance work and life. These, as well as many other things, might attract both employees as well as employers. Portugal was for a reason chosen by Forbes as the number one country for investments.
If you are interested in taking a Property Tour then contact a member of the Portugal Property team via email at: email@example.com or call free now on 0800 014 8201 and a member of the team will contact you shortly.