Portugal Property
View all properties in Portugal
For many overseas property buyers Portugal is synonymous with golf, beaches and sunshine. Portugal is in the top five overseas retirement destinations for overseas property buyers and has attracted over 100,000 expats, some of whom bought property in Portugal several years ago as an initial base and who envisage selling their UK property and buying a larger property in their retirement. Many retirees appreciate the cost of living, which is about 30% cheaper than in UK, and the fact that as it is only three hours by plane from the UK, allowing easy access to UK friends and family.
Property in Portugal
Property in Portugal has benefited from a combination of the restriction of land and strict planning laws which in turn have helped property in Portugal maintain its natural character and beauty. Such restrictions have also helped curtail supply, in turn helping capital appreciation to grow at a steady 10-15% per annum since the Millennium.
Golf Property
The Algarve is the most popular location and a mecca for golfers. Property further inland tends to be bought by locals and overseas buyers who seek a more sedate existence. The tourism industry is not as developed inland as is the case on the Algarve and consequently inland property rentals can be harder to achieve.
Golf property is a favourite amongst investors and lifestyle buyers alike. Portugal’s golf property is generally of a high standard, with virtually year-round rentals attainable due to the plethora of championship standard golf courses.
In recent years, Portugal has amended its tax laws to clamp down on the use of offshore tax havens, a traditional way that many overseas property buyers used to purchase their property. One of the changes includes that tax of bequests to resident direct family members has been abolished, making Portugal one of the most inheritance tax friendly environments in Europe, along with reductions in Capital Gains Tax and Corporation Tax. The abolition of Inheritance and Donation Tax ensures that immediate family members will not be liable to pay any death duties on inheritance of a property owned in Portugal.
Although property in Portugal is generally more expensive than Spanish property, its traditional rival; its strict planning laws, high build quality, array of golf courses and unspoilt beaches help property in Portugal maintain its long-term appeal.
Population : 10,605,870 (July 2006 est.)
Capital : Lisbon
Language : Portuguese
Currency : Euro
Dialing Code : +351
International Airports : Portela de Sacaverm (Lisbon), Faro, Oporto Sa Carneiro (Oporto)
