Continental Europe’s most Westerly country, Portugal is a small gem blessed with over 300 days of sunshine that truly punches above its weight in terms of desirability, liveability, and investment potential.
For expats
Why Portugal
Why Live in Portugal
Portugal has it all and we believe that it is one of the best countries to live in Europe. It has fantastic transport connections with the rest of the world and is barely more than four hours by air from the whole of the rest of Europe. Portugal is considered to be the third safest country in the world and is known for a stable and growing economy based on tourism, technology and innovation. Portugal is also recognised as having a great educational system with one of the world’s best national health services.
The landscape of Portugal is majestic and varied. Within this small country, you have it all, from dramatic mountain ranges in the interior to the desert island beaches of the Rio Formosa, from the jaw-dropping verdant vistas of Duoro river valley to the haunting and evocative beauty of Alentejo with its signature twisted cork trees. Not to mention the 850km of spectacular and diverse coastline. Portugal offers a wealth of historic cities, white-washed villages, castles, and medieval towns. It managed to balance a traditional way of life with a fresh and vibrant modern attitude and a strong commitment to diversity.
Over the last decade, Lisbon has become known as one of Europe’s best tech and talent hubs and continues to attract a wide range of companies to open new offices there with Portugal’s second city Porto swiftly following suit. Talented professionals from across the world are increasingly calling Portugal their home; and who could say no to the great quality of life, the vibrant business environment, the culture & history, the beautiful beaches, stunning scenery, and the delicious food and wine? A breakfast surf before work? Why not? Sunset dinner by the sea after work? Why not? Portugal has it all.
Why invest in Portugal?
Even with the current health crisis, Portugal has demonstrated high levels of resilience, cohesion, and political union. They were recognised as having responded admirably during the first wave and they were able to make the swift, tough decisions needed to help them emerge quickly from the second wave. Portugal remains one of the best destinations to live and invest in once this pandemic is over.
But that’s not all, thanks to low mortgage interest rates that are expected to remain very low in the near future, Portugal is a super interesting option for those who wish to invest in real estate as well as in other business opportunities in this growing economy. Throughout the health crisis, we have witnessed that the Portuguese real estate market has consistently achieved better results compared to other markets. This makes it especially interesting and attractive for investors from all over the world.
In order to attract high worth expats and international investment into Portugal, the government has developed two different tools: a Golden Visa program that allows permanent residency and a path to citizenship through investment, and a Non-Habitual-Residential tax benefit that promises low taxation for new arrivals to Portugal for up to ten years. Through these schemes, Portugal offers an open and welcoming investment environment and feels ready and willing to do business.
Portugal’s two main cities both rank in the top ten investor’s choices of the best places in the world in which to invest and the whole country is viewed as one of the most popular destinations for international investors. The numbers don’t lie, the real estate sector has registered impressive year on year increases over the last decade – even during the health crisis in 2020 house prices increased by 5.9%.
So who’s buying? The main buyers are Brazilian, French, Turkish, Chinese and British, but Portugal is also very popular amongst Swiss, Americans and Polish investors. And where in Portugal? It depends on who’s buying, but for many international investors, the stunning historical city of Lisbon is always a popular and sure bet as well as the neighbouring, famous seaside village of Cascais where the Spanish Royal family enjoy their summer vacations. Outside of the Lisbon area, Porto is becoming popular and the sunny Algarve region with its large expat community is always a perennial favourite.
So who could say no to …
- sunshine all year round
- 850km of some of the world’s most beautiful beaches
- a rich and varied landscape
- incredible cuisine and one of the world’s most exciting wine cultures
- a warm and friendly people of whom 90% speak more than one language
- comparatively low living costs
- fair real estate prices
- a stable and growing economy
- an open and welcoming investment environment
- an exciting growing property market
Need we say more? Thanks to all of this and being one of the safest countries in the world as well as having great political stability, PWC has labelled Portugal as ‘Europe’s best-kept secret’. A secret that we are more than happy to share with you all and help you find a part of to call your own.