Top 10 reasons to buy in Portugal
“Really, at this moment in time, it’s not so much a question of why you would buy in Portugal as why on earth you wouldn’t,” enthuses Chris White, founding director of boutique estate agency Ideal Homes Portugal.
“Portugal really does have everything going for it and the exchange rate is so favourable right now that the bargains buyers are picking up really have to be seen to be believed.”
Fresh from another highly successful A Place in the Sun Live event in Manchester, White and his team are full of the joys of life overseas, leaving the rain and wind of the UK behind and jetting back to the sunny Algarve, which has just enjoyed a stunningly hot burst of weather, with temperatures hitting 87F (30C) at the end of March according to Accuweather.
The sunshine is one of the key reasons that many second home owners and expats cite for purchasing property in Portugal. Here, the Ideal Homes Portugal provides their top 10 reasons to buy in Portugal right now.
Ideal Homes Portugal’s top 10 reasons to buy in Portugal:
Sunshine simply has to come first. The Algarve is reputed to enjoy 300 days of sunshine each year, making it the ideal location for a second home or a fulltime residence. Opt for an apartment with an impressive pool to make the most of the lovely climate.
- Ease of access
The Algarve is less than three hours by plane from most UK airports. On a bad day, it can take longer than that to get around the M25. Opt for a peaceful countryside villa with pool to ensure that traffic jams are just a distant memory.
- Low prices for high quality
A glut of properties and a tumble in prices over recent years (which now seems to have bottomed out) has meant that even for low prices, high quality properties are available across the Algarve. Modern, one bedroom apartments cost from as little as €72,000 in the eastern Algarve.
- High rental returns
According to Ideal Homes Portugal, expected gross rental yields in Portugal are among the highest in Europe, with 14% achievable from the right property. Bed and breakfast and hostel accommodation properties offer some excellent deals, such as this 23 room hostel for €635k in the quaint central Algarve town of Alcantarilha.
- Impressive tax breaks
The Non-habitual Resident tax scheme in Portugal can enable those moving there from overseas to essentially live tax-free for 10 years if they meet the legislation’s criteria. Why not push the boat out and spend the extra cash on a particularly majestic villa with pool, tennis court and Jacuzzi?
- Beautiful beaches
The Algarve is known across the world for its stunning coastline, with crumbling formations of red and yellow rock standing like proud sentinels in the sea, or lining the backs of beaches with dramatic cliffs. Sea caves offer the perfect places for exploration by boat or with a snorkel, while hot, soft sand invites those of a less active nature to while away the hours soaking up the sun. Opt for an apartment within walking distance of the beach to enjoy the coast to the max.
- Fabulous local cuisine
From freshly caught razor clams cooked simply with rice, wine and coriander, to huge bowls of intensely rich, acorn-fed wild boar stew, to unforgettably sticky carob cake, the Portuguese diet showcases how much can be achieved with so little when it comes to ingredients. Based on a history of hearty peasant food, the country’s cuisine squeezes every iota of flavour out of each ingredient to produce a unique gastronomic experience. Buying a traditional Algarvian farmhouse with land is the perfect way to create your own farm to table experience in the sunshine.
- Award-winning golf courses
Golf is a great way to burn off all those extra calories piled on while feasting on Portuguese stews and cakes, and the Algarve boasts dozens of beautifully tended courses, many of which have won awards and/or hosted important championship tournaments. Opt for a luxury golf villa within easy reach of the world famous Quinta do Lago golf complex in order to enjoy the Algarve’s best courses.
- Low cost of living
From dining out to deep sea fishing experiences, the low cost of living in Portugal means that living and playing in the Algarve can be an extremely wallet friendly. Good wine costs around €2 per bottle. An icy cold beer costs €1. Enough said! All that money saved on usual daily expenses can be channelled into a lovely family property
instead, such as this fabulous five bedroomed house with pool and pretty garden.
- A safe place to buy
A far cry from the shocking tales heard from neighbouring Spain, Portugal is known for being a safe place to buy property, provided of course that the purchase is made through a reputable estate agency, such as Ideal Homes Portugal. Opt for a spacious and thoughtfully designed new home (with pool, naturally) that you can really make your mark on.
“As they say,” concludes Chris White, as he and his team head back to the Algarvian sunshine, “There’s no time like the present.”