The top 3 hotspots for home-hunters in Portugal
Since this article was first published, the government has announced that from 8th June 2021, Portugal will be removed from the green travel list of countries that require no quarantine on return to the UK. The traffic light system is subject to regular view, so please make sure you check the government’s latest guidelines for travel before making plans to view a property abroad.
The news that Portugal would be on the green list of countries approved for travel resulted in a major spike in the number of home-hunters enquiring about buying a property there.
Clearly the demand for homes in this sunny part of south-western Europe has been building in the past year. But when we compared a more recent period – the three weeks before Portugal was rumoured be added to the green list (4-24th April), with the three weeks following the government’s confirmation (8-28th May), we saw an increase of 37% in the number of people contacting estate agents in Portugal.
What parts of Portugal are most popular right now?
Interest in Portugal has increased pretty much everywhere, but the top three areas that have proven the most popular with Brits looking to buy a home are in the Algarve:
The most popular hotspot right now in Portugal is Vilamoura, the modern harbour town that’s pretty much smack in the middle of the Algarve coast.
With the average family villa costing an average of €875,000, it is the most expensive of the top three most in-demand locations. But for those who can stretch their budget, this seems like an ideal destination for a home-away-from-home.
Take a look at this beautiful villa:
The resort of Albufeira is currently the second most enquired-about destination in Portugal.
Apartments are the most popular type of property in Albufeira for people considering buying a holiday home.
The average asking price is around €150,000 for a one- or two-bedroom apartment, like this gem right here, just a couple minutes away from the beach:
And for those looking for a bigger home, the average asking price on Rightmove for a family villa in Albufeira is €462,880.
Check this one out:
The third most in-demand location right now is the picturesque town of Carvoeiro. This resort town is surrounded by stunning coastline and stretches of golden beaches.
A family villa in this incredibly popular holiday destination costs €677,222 on average.
Take this lovely three-bed villa:
Seems like a no-brainer, really.
But we did ask Daniel Moreira, from Inside Living – a specialist in helping UK buyers of 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. Relocating to Portugal is often considered as an opportunity to start over and live a life doing more of what people want to do, which brings 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.