Given its natural beauty, warm climate and vibrant culture – it is little wonder that so many British expats looking to retire to the sunshine or invest in a holiday home, turn to Portugal.
Article written by The Overseas Guides Company
In fact, over 50,000 Brits have already upped sticks and made the move and now while away their days basking in the good weather and reaping the benefits of such a mellow way of life. If you are finding it hard to decide once and for all whether moving to or buying in Portugal is right for you, today the Portugal Buying Guide outline some of the reasons why the country has earned itself the affectionate nickname, ‘the Star of Southern Europe’…
First things first – let’s consider the weather. The climate in mainland Portugal is determined by factors such as proximity to the sea and height above sea level but overall you can expect hot, dry summers followed by cooler temperatures in winter. As a general rule, March to October is warm, with July and August being especially scorching. Despite this, don’t be fooled into thinking that you can throw away all of your coats and jumpers before the move – you will need them, especially after the sun goes down. Portugal does get some snowfall but this tends to only fall in the highest point of the country, Serra da Estrela, but the upside of this is that you can go skiing.
If you have spent your life craving a beach culture then Portugal is just the place – the country’s beaches stretch along the entire western and southern areas of the country and the sands are clean and white. Although in the peak of summer, the main beaches can become overcrowded – if you are prepared to venture a little further afield you will discover secluded, peaceful coves where you can catch some rays or enjoy a paddle.
For those who enjoy water sports – Portugal is a popular surfing destination. In addition, the Silver Coast is known for its scuba diving sites where you can glide along beside sharks, manta rays and turtles.
When you imagine life in Portugal, no doubt you’ll envision yourself dining alfresco upon sardines and other fruits of the sea – the fresh, tasty and healthy cuisine is another thing for which the country is well-known. Portugal is home to salted cod and port wine and each region has its very own delicacy. The cuisine is very Mediterranean so you can expect rice dishes, stews and the like. In general, food and drink is cheaper than UK prices. As is to be expected, the further you venture away from the tourist areas, the more you see prices drop. The general rule of thumb here is that the further north you go, the cheaper things become – with the northern cities of course being the exception to the rule!
Portugal’s close proximity to the UK is another factor which appeals to many British expats. Retirees and those seeking to telecommute back to the UK are able to take advantage of lower housing costs and a better way of life without sacrificing the opportunity to return regularly to the UK to visit friends and family. With a number of cheap flights available throughout the year to 20 regional airports back in the UK, it is not inconceivable to return home, or back to your office HQ on a monthly or even weekly basis. As an example, the flight time from the Algarve to London is just two and half hours.
Another factor of the utmost importance to people moving to Portugal, especially retirees is that they will be able to receive a high level of medical care. You are entitled to free state healthcare in Portugal but if you decide to take out private healthcare then it will cost. There are a number of providers and costs vary but it is worth parting with the money to receive the care that you need. You will find that the majority of doctors speak fairly good English and there are quite a few expat doctors, especially in the busier areas. The overall standard of healthcare in Portugal is good, and has certainly improved over the last decade.
As well as the lifestyle benefits of living in Portugal – there are a number of financial benefits to choosing Portugal over other Southern European destinations like Spain and Italy and that are responsible for enticing thousands away from their home countries each and every year. Like many countries, Portugal has seen property prices decline since the onset of the crisis, making investment in local property much more attractive thanks to the better value for money that can be achieved. It is possible to buy a beautiful property in a sought-after Portuguese locale at a hefty discount to the prices being achieved just a few years ago.
However unlike neighbouring Spain, the foundations of Portugal’s property market are noticeably more stable given that it does not have a massive oversupply problem. This will help to support prices and, more significantly, has enabled Portuguese banks to avoid bad debt charges to the extent that many Spanish banks are now suffering.
Another factor is living expenses, which for the most part are considerably cheaper than both the UK and many other popular destinations around the world for expats. The fact that wages are failing to keep up with cost of living increases in developed countries means that everyday living costs are under close scrutiny – so being able to enjoy a cheaper lifestyle is a dream come true for many. There are also positive signs emerging on the broader Portuguese economy. Having already received a bailout, the Portuguese Government has seen its borrowing costs fall dramatically from their pre-bailout highs, providing a more sustainable means of operation.
All of these factors combine to make Portugal a highly attractive destination for living and owning property, given the short-term cost benefits and longer term potential for capital growth on Portuguese property investments. So if you’re looking for a dream destination, why look any further than what is already on your doorstep!
For details of property for sale in Portugal, visit the Portuguese listings on Rightmove Overseas. One way to save money when buying property in Portugal or moving there is to use a currency exchange specialist when transferring your pounds into euros. For more information on this, visit the Currency Zone.
To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, Rightmove Group Ltd or Rightmove Plc