portugal investment information

Why Buy in Portugal?

Portugal is an enticing country, the weather is great, it is still mostly unspoilt, and the people are friendly and welcoming. Approximately 50,000 British nationals now live there permanently, and many more have chosen to buy a second home in the country. Portugal now ranks third amongst British owners of second homes, after France and Spain.

Up to a few years ago only a limited number of lenders, in Portugal, would consider lending to foreigners. Now things are changing. More banks are realising that this market is attractive. If a purchaser is non-resident in Portugal they can borrow up to 80% of the value of the property and maybe a higher percentage if they are resident.

With the advent of high loan to value mortgages the prospect of high returns on capital invested is excellent.

Portugal boasts a vibrant economy having seen substantial growth since its accession to the EU in 1986.

Portugal is blessed with the Mediterranean climate of the Algarve and the virgin beaches of the Atlantic Silver Coast and boasts a coastline of almost 1800km.

Carefully placed along these magnificent stretches of shoreline are the humble yet vibrant towns and the historically enriched cities of Faro, Lisbon and Porto to name but a few. Not to be ignored are the riverside retreats of Aveiro and the hidden inland treasures of Coimbra. The ever-present blending of modern and traditional architecture is reflective of a nation building its future by preserving its valuable past.

The natural beauty of Portugal is complemented by a blossoming tourism industry centred around some of Europe’s best golf courses and exclusive beach resorts. Healthy living is a key part of Portuguese life and along with being Europe’s largest consumer of fish; the country is blessed with lush olive groves and rich vineyards.

These factors, combined with straightforward purchasing laws, Portugal is an excellent option for those looking to share the passion of savouring a rich, healthy life in a warm, friendly and uniquely traditional part of Europe.

More low cost flight operators are entering the market and the frequency of flights and range of departure airports is increasing all the time. According to the World Travel and Tourism Council the Algarve is set to become the most sought after holiday destination in Europe!

Buying Property in Portugal

The legal issues involved in property buying in Portugal might, at first, seem complicated. But we can help unravel the legal language and regulations by explaining the basics and lending a helping hand throughout the process.

We always recommend that qualified legal advice be sought when purchasing a property in Portugal. It’s the sensible thing to do, and could save you money in the long run.

Location

Portugal is located in the west of the Iberian Peninsular, bordered by Spain to the north and east and by the Atlantic Ocean to the west and south.

Languages spoken in Portugal

The major language in Portugal is Portuguese.

Religions of Portugal

Christianity

The Climate in Portugal

In Northwest Portugal the winters are mild with fairly short summers. The northeast has longer winters and hot summers. In Southern Portugal the summers are warm with very little rain except in early spring and autumn.

Getting to Portugal

Many airlines including low cost operators fly from a large number of airports in the UK to all the regional and international Portuguese airports. With two-hour flights from the UK and the fact that Portugal shares GMT status, means that it has become an increasingly popular destination for those looking to buy overseas property with relative ease.