Portugal becomes top overseas property hotspot
For over a year now, many Brits have had to pause their plans of buying an overseas home.
But now, as the Coronavirus vaccination rolls out, the possibility of travel restrictions relaxing is increasing – the government has said that from the 17th of May the current restrictions could be replaced by a new “traffic light” system which could allow travel between certain countries.
Though this has yet to be confirmed, there are millions of people busy browsing Rightmove at the moment, preparing to make a trip to view properties abroad as soon as it’s possible to do so.
One of the countries that is getting the most interest today is Portugal. In the last year we’ve seen an increase of 28% in the number of property searches there, and it’s not hard to figure out why. The weather, beaches, and amazing value for money are some of the top motivations.
We asked Daniel Moreira, from Inside Living – a specialist in helping UK clients buy Portuguese property – what’s attracting Brits to the country, and to him the top three reasons are:
Lifestyle – the weather, beaches, food, and culture, all make for a relaxed pace of living. Yet, this is also a country that ranks highly in safety, has an exemplary public medical system, and efficient educational options.
Taxation – apparently Portugal’s tax system is attractive to investors, retirees, and homeowners that come from abroad. Inheritance tax and income tax are both said to be significantly favourable compared to many other countries.
Change – according to Daniel, many people decide to move there at a point in their lives when they’re faced with a major change in circumstances. They see this as an opportunity to start over and do more of what they love to do, and live a life that brings them greater satisfaction and happiness – and Portugal seems to be a good place for that!
Remember that before making plans to travel to view a property abroad you should check the government’s latest guidelines for travel.
Here are some great finds in five different areas of the country.
This is the place that has seen the greatest spike in interest in all of Portugal. Searches for properties in the Portimão area have more than doubled in the last year – and we believe the 130% increase is due to the confirmation that this charming old town will now be an official host of the Formula 1 Grand Prix.
Just 20 minutes away from there, we found this lovely three-bedroom villa with a swimming pool, games room, and just about everything a home-away-from-home should have.
Spread over three levels, the property is roomy and bright. The three bedrooms are very spacious and come with large fitted wardrobes. We love how ample the terraces are and how they can be accessed through all rooms.
The beautiful beach is just five minutes away, and within walking distance are a number of popular spots, including a mini market, coffee shops, and a Michelin star restaurant.
Interest in the Silver Coast has increased by a whopping 85% in the last year. More and more people are considering this area, perhaps because it’s a change from the better-known go-to Portuguese destination for Brits, the Algarve.
Check out this contemporary villa in the historical town of Óbidos, less than an hour away from the Lisbon airport.
The design of the build was done by the renowned Portuguese architect Álvaro Siza – that in itself is a major selling point if you’re a connoisseur in that field. But even if you’re not, there’s a lot more to love about it.
It’s clearly been made to exceptionally high standards. Everything in it looks and feels high end. All four bedrooms have their own en-suite – which we consider a luxury – and the open-plan layout of the living room, kitchen and dining area are rather inviting.
This modern villa sits right on the outskirts of the spectacular nature reserve Sapal de Castro, quite near the border with Spain.
It is stunning and makes us want to be there right now.
We love the contemporary design – the wide open spaces, the large glass windows and sliding doors, and the way everything looks bright and new.
It’s also built for energy efficiency, making the most of natural sunlight and using solar panels for energy.
Should you want a break from chilling by the swimming pool, the beach is just a few minutes away, or if you’re into golf, you could choose between two state-of-the-art courses right next door.
This lovely two-bed apartment stood out to us for a few reasons, not least of which the fact it has its own private swimming pool – a rarity among flats.
It’s been done up recently so it feels fresh and contemporary, but still has some traditional vibes coming through.
The outside area is a perfect place for barbequing and hanging out with friends. The large sliding glass doors in the bedrooms and living room create a pleasant indoor/outdoor transition, which for us is a major selling point.
Big villas are great, but there are definite advantages to a low-maintenance garden and terrace. More time for relaxing!
Another area that is growing in popularity, the Lisbon region has a lot going for it. It suits the cosmopolitan types looking for an urban experience, yet within an hour’s radius are lovely beaches, small towns, and a beautiful countryside.
Here’s a fabulous five-bedroom villa in Sintras, in the outskirts of Lisbon.
It’s just been totally renovated, so it’s looking amazing inside and out. Every corner of the house looks immaculate, modern, and stylish.
That wide open space downstairs strikes us as a perfect place for a house party, and it’s just a few steps away from the swimming pool.