Life in Portugal: Top 5 Reasons to Buy a House in Portugal
Many UK expats dream of buying a house in Portugal. If you want a wealth of beautiful white sandy beaches, great food, and year-round sunshine, moving to this European country is an excellent choice. From mountains and waters for sports enthusiasts to spectacular unspoilt countryside and art galleries, there is something for everyone in Portugal. There are many different reasons why people decide to buy a house in this country. Some of them buy property as an investment, while others want to start a new life.
Here are top five reasons to buy a house in Portugal:
A Long Term Investment
Increasingly more people are choosing property as an investment rather than stocks and shares. Property prices in Portugal are on the rise, so you should hurry up and buy a house than you can sell later for profit. If you buy a home in the Algarve, Lisbon or other holiday destination, you can rent or sell it for a high price. Profitability will vary according to political – economic climates, market variations and other factors. The return that can be expected on a property investment comes in either capital growth or rental income.
If you want to buy a house in Portugal, now could be the perfect time. Statistics indicate that the average property price fell by nine percent in 2012. Most properties are priced at 1,047 euros per square meter. Prices of flats fell faster that house prices.
This European country is economically and politically stable, and has a low crime rate. Its membership in the European Union has contributed to stable economic growth. Portugal is constantly receiving funds to improve infrastructures, modernize industry, and male businesses more competitive. The low interest rates have stimulated home ownership. Portugal ranked 43 out of 134 countries based on the Global Competitiveness Index. This European country is home to a large number of leading companies such as Conservas Ramirez, Corticeira Amorim, and Sonae Indústria.
Reasonable Cost of Living
Portugal is one of Europe’s lower-cost destinations. Many UK expats who buy properties in this country base their decision on this aspect. Property prices are similar to those in Spain. An expat living in this country will spend between 300 to 500 euros on rent. Most services are cheaper than in Northern Europe. Locally produced food, wines, beer, and spirits are inexpensive. Due to its coastal location, Portugal enjoys abundant and affordable seafood.
Accessibility and Convenience
Cheap flights from many European countries make Portugal a popular location for holiday homes. Many people who buy properties in Portugal visit this country every week or month. Those who move here can easily visit their families and friends without spending a fortune on flight tickets.
Portugal is famous for its spectacular landscapes of rare natural beauty. This country boasts magnificent castles, churches, small fishing villages, pristine beaches, and dramatic rock formations. Forest area in Portugal accounts for 41.34 percent of land area. There are over 58 natural areas under protection. Buying a home in Portugal allows you to enjoy this unique landscape and explore its beauty. Many properties offer breathtaking views of the sea and mountains, featuring beautiful gardens and interesting architecture.