Privately owned holiday homes, B&Bs, boutique hotels or rural tourism accommodation – Portugal’s tourist sector revolves around property. This means plenty of opportunities to set yourself up in the business. Here are a few ideas…
Article written by The Overseas Guides Company
Budding entrepreneurs looking for a change of lifestyle and a hands-on type of venture somewhere sunny should consider a property-based business in Portugal, where tourism presents a range of opportunities.
The warmth and friendliness of areas like Portugal’s Algarve are proving a magnet for people looking to start a new life in 2015, often based around running a rural B&B, small hotel, property management and rental agency, or simply owning and looking after holiday rental homes. Until they make that move, for most people, their experience of managing properties might be no more than managing a buy-to-let or two from the comfort of their own home.
“A lot of people want to pursue their property dream in person, not from their armchair,” comments Mark Satchell of Rightmove Overseas. “And the Algarve is certainly one place that is tempting more and more buyers to make the move and see how they fare. It’s a great place for families, well connected to the UK and the scenery is simply stunning. Add to that the fantastic weather and the low cost of living and it’s a really tempting combination.”
Data from Rightmove Overseas has shown that enquiries about property in the Algarve have increased more than fivefold since 2012. In March 2012, there were some 42,211 enquiries. By March 2015, the figure had risen to 239,270.
For first-time property entrepreneurs, a villa that comes with a separate self-contained apartment is a great way to test the water. As the owner, you could live in the apartment and manage the villa as a rental business while learning the tricks of the trade. Once you have the confidence to scale up a notch, the Algarve presents some excellent opportunities for B&Bs or boutique hotels, such as this impressive property in pretty Estoi village, Faro.
Rural tourism is also attracting keen interest in Portugal right now and those who prefer the peace and space of the Algarve’s countryside can opt for a rural estate with flexible business potential. Portuguese farmhouse properties often enjoy annexes or workers’ cottages in addition to the main house, as well as workable land packed with fruit trees and grape vines. From glamping to gourmet breaks where guests get to harvest their own delightfully fresh produce, farmhouse properties offer a really exciting opportunity to those with vision. This charming ‘quinta’ property would be ideal for just that.
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