Property in Portugal remains popular

Unless one has spent enough time in both Portugal and Spain to get under its surfaces, one would be forgiven for lumping these together and thinking these were pretty similar. After all, both Spain and Portugal are established favourites with British house hunters. However, inspite of apparent similarities the Portuguese are not huge fans of their Spanish neighbours. The two countries have distinctly different cultures, histories and lifestyles. So what has Portugal got to offer?

With its mild, welcoming climate Portugal offers all the advantages of a sunny country. The coast is littered with superb beach resorts providing ample opportunities for practising water sports. It also boasts quaint fishing towns and a landscape draped in olive groves. What is more, Portugal boasts 12 World Heritage sites and one of Europe’s most attractive capital cities: Lisbon.

These stunning geographic features, combined with the fact that Portugal has maintained the great treasures of a renowned reputation for hospitality and a slower pace of life, have turned the country into a chosen destination for many looking for a holiday, retirement or permanent home. A member-country of the European Union since 1986, Portugal enjoys a steady economic growth but is still one of the most cost-effective countries in which to live in the EU. With food and wine inexpensive, a high quality of life is easily achievable.

It is not hard to see there are many advantages to owning a home in Portugal. For a start, the Iberian country is very accessible. As Nick Freeston, international director at Chesterton explains that with an average flight time from the UK of 2 hours 50 minutes, Portugal is easy and quick to reach. This means that second homers can visit for short periods of time with ease. For those that have relocated, it means that friends and family in the UK are never too much of a distance away.

The fact that budget carriers fly to Portugal means that not only is the flight time short, but that it can also be very cheap to reach as well. EasyJet flies to Faro from Gatwick, Stansted, Luton, Bristol and the East Midlands, Monarch flies some charter flights from Manchester, Gatwick and Luton, and Ryanair flies direct from Dublin.

Barbara Maddison, the UK sales director of Praia D’el Rey Golf & Beach Resort, agrees and adds that one will also find an excellent standard of build in Portugal and if British house hunters are looking for somewhere to invest where they can avoid the usual UK 40 per cent capital gains when they come to sell. Portugal’s capital gains tax is just 25 per cent.

So how does Property in Portugal compare to Spain? Portuguese property in most areas remains affordable with prices usually lower than Spain. Stricter planning regulations in Portugal mean the overall density of buildings, even on the Algarve tends to be quite low. In Spain, as the coast has become overdeveloped and overpriced, investors and house hunters have headed inland to find cheaper and more authentic properties. Is the same thing happening in Portugal?

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Property in Portugal remains popular

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