If you’re considering making an investment in overseas property or buying a holiday home in the sun you might like to consider Portugal; this article covers the four most popular reasons to buy property in Portugal right now.
Property in Portugal is universally attractive and desirable and at times like this when many of us are jetting off on our summer holidays wouldn’t it be lovely if we were flying to our own holiday home in the sun?
Over 200,000 Britons have already done it, they own property in Portugal and 200,000 is actually 11% of all Britons who own homes overseas…these are the four most popular reasons why Britons and other Northern Europeans consider property in Portugal: -
1) Get a New Life in Portugal!
If you’re fed up with the day to day stress of your life, of commuting to work and sitting at a desk surrounded by de-motivated colleagues then you’re most likely dreaming of starting a brand new life somewhere far away from the grey skies and grey temperament that pervades your life.
The excitement, passion, colour and history that is fundamental to the Portuguese way of life couldn’t be further away from the average office job, 9 - 5 existence that many in Northern European countries such as Britain live, therefore if you’re looking to escape the confines of your life for a more exciting existence elsewhere, you might like to consider buying that dream home in Portugal and settling down to an altogether different way of life!
The sunny climate, slower pace of life, excellent food and wine, the friendly and fun people are all reasons to buy property in Portugal. By starting a new life you can improve your life. Think of the beaches, the mountains, the sea and the golf courses, think of the beautiful Portuguese properties that are far cheaper to buy than property back home.
There are strong expatriate communities in Portugal, particularly on the Algarve and around the main cities like Lisbon. This means that you will be living a new life in a brand new country but you’ll never be too far away from a safety net of friends and like minded people; people who will help you buy your property in Portugal and assist you to settle into your new life.
2) Long Term Property Investment in Portugal
If you’re thinking long term about affording your retirement and you’re not impressed with the meagre returns offered by the stock market or related investment products such as pensions and retirement savings policies, you might like to consider the longer term investment potential offered by property.
It’s long been accepted that property over the longer term offers a safer alternative to stocks and shares and property in Portugal is of course no exception to this rule. In fact, property in Portugal has been growing in desirability which in turn means that over the medium term property prices in Portugal have been moving up and up.
A very good reason to buy property in Portugal could be the long term investment potential offered by the bricks and mortar you purchase. The economic and political climate in the country is stable meaning that you should not encounter any issues that will have an adverse effect on the value of your property investment, and if you retain the property for the long term you should be financially rewarded when you come to cash in your investment.
3) Buy to Let For Instant Income
Portugal is an evergreen destination in terms of its popularity. With fantastic weather, stunning beaches, a true wealth of attractions and activities for entertainment, interest and sporting activity, the appeal of the country is huge and growing annually. If you purchase a property, particularly in the highly popular Algarve region, you will be able to enjoy it for the few weeks a year when you take your annual holidays, and then you will be able to let it out for an instant income to holidaymakers, family and friends.
‘Buy to let’ in a country like Portugal is a fantastic reason to buy property…you will almost be guaranteed returns particularly if you buy in a hot destination and you market the property well online. There are many companies in Portugal who offer both a management service and also a letting service and who will market and look after your property for you. So you can buy a house in Portugal, benefit fully from it yourself and then sit back, remain hands off and generate an instant income from your purchase.
4) Short Term Property Investment in Portugal
There are still short term property investment opportunities to be had in Portugal. You can either carefully examine some of the emerging and strengthening markets and then buy in low then sell on as the average prices for the region rise, or you might like to look at buying property in need of renovation, doing the renovation work yourself then selling on at a profit.
At times like this when there is talk of a global slowdown in property prices you have to be careful with your investment however and watch the market you’re in very carefully. That said there are definitely opportunities for short term property investment return in Portugal right now - for example, property in the Algarve continues to go up in price monthly and if you had the capital available to invest this region could offer you the returns you’re after.
Another alternative for short term gains is Lisbon. The capital city is undergoing a massive regeneration at the moment and the whole greater city area is up and coming. If you bought the right property, improved it while the infrastructure and surrounding streets were also being done up then sold, you could potentially make a very nice short term return on your property investment in Portugal in this way too.
