Buying a property in Portugal offers many advantages. For example, an investor can enjoy playing golf all year round in a short-sleeve top and absorb the beautiful views of its serene outdoors. Many people favour the Algarve, mainly for their lush Mediterranean beaches, making it an irresistible place to be in. There is mountainous countryside in Portugal too, where a buyer of property can enjoy the relaxed and tranquil Portuguese way of life outside of the world’s busyness.
A UK national can benefit from buying in Portugal too, from the non-habitual residence tax rule while living in Portugal for ten years. This is unique to Portugal and has really taken their property market to a whole new, strong level attracting thousands of people.
Industry experts have predicted that prices in Portugal will rise by 4% in 2017 and this comes after their prices increasing by over 7% in 2016. Their real estate market is becoming very worthy, worthy of something special sought after by investors all over the world.
Around the West of Portugal in Lagos, it has become a popular place for agents. In 2016 the prices fell by 30% but have now gone back up again. Someone can purchase a villa in Portugal in full for around €220,000-300,000. In Lisbon where it is profoundly popular among tourists, a lot of Chinese investors are increasingly buying there; their rental yields are good too. All across Portugal in fact, investors feel as though they are in for a treat.
There are many advantages. Portugal’s housing prices continue to rise in triumph, amidst improved economic conditions. Property prices in Portugal went up by 3.84% in October 2016 from a year earlier, to an average price of €1,308 per SQ. metre. House prices did, in fact, rise across all of Portugal’s 24 urban areas. This is great news for a property investor or for someone looking to buy a property that has a fantastic value.