The laid-back Portuguese lifestyle has long drawn British home hunters because it others a less-developed alternative to the Spanish Costa del Sol. New construction along its beautifully varied coastlines was and still is tightly controlled, the country's property market never boomed like Spain's, but is in far better health as a result, albeit sluggish since the global downturn.
But the Portuguese government has been very savvy about attracting overseas buyers back to kick-start the property market with a couple of successful incentives - its own "golden visa" scheme which has had great take-up from non-EU investors spending €500,000 or over; plus the Non-Habitual Tax Residency scheme (NHR) has attracted European expats, especially the highly taxed Scandinavians, for its low or zero income tax rates.
Cost of living is also attractive. So both the Lisbon and Algarve markets have now begun to recover, although prices are still down in the latter - although prices are going up again in hot spots such as Lagos on the western Algarve.
The Algarve is also hugely popular for its golfing facilities for many months of the year - and is frequently voted one of the best areas by experts - see our feature on page 61 for the huge choice of golf homes available, whatever your budget. New investment is also again being seen - there's going to be a new marina at Vilamoura and resorts such as Quinta do Lago are investing in updating their facilities to maintain their reputation as world-class holiday areas.
Popular places in Portugal on aplaceinthesun.com
- Lagos
- Loule
- Vilamoura
- Pedrogao Grande (Leira)
- Albufeira
- Sao Bras de Alportel
- Praia da Luz
- Quinta do Lago
- Tavira
- Figueiro dos Vinhos
