Where to buy a property retirement: Portugal
A recent article published by Financial Times points out three destinations for British – and international – readers to buy a property for retirement. Portugal is included, along with Italy and Dubai.
The British newspaper says that Portugal is a “pensioner’s paradise,” given the tax exemption it is offering ton non-residents for ten years. The FT adds that between “January 2017 and August 2018 the number of foreign residents increased by 83%”.
The recovering of Lisbon historic centre from the previous levels of degradation is mentioned in the article. Although not making a clear distinction between the influence of tourism (and the adaptation of old houses to “alojamentos locais”, the small and private accommodation popping everywhere in the capital) and property investment, the article clearly shows that Lisbon became “a centre of investment”, again.
The FT article also reports that the price-performance ratio is good, compared with Spain, and brings a real-life story of a Brazilian consultant on “mergers and acquisitions” who retired from California to Algarve due to the “relaxed atmosphere”: “low risk of terrorism, a stable political system” and proper performance levels of the economy.
The article finished by including “Vale do Lobo and Quinta do Lago” among the most sought-after areas, something that can hardly be considered as a novelty.
Stating the obvious?
Some readers might think that the Financial Times is just stating the obvious about the general conditions of the Portuguese real estate market, but the point made by the newspaper remains. Portugal is totally under the radar the retirement property segment, and the FT readers have just received another sign of it, this time from a not-so-specialized media outlet, yet always a good source for those searching for a good return for their investments. Of course, little pieces like this one help keeping the market curious about Europe’s southwestern country.