Buying a Property in Portugal

Why Portugal?

Attracted by the temperate climate, friendly people and ease of travel from the UK, many British people have chosen Portugal as the location for their second home or even moved there permanently.

Since 1993, when revised planning regulations were introduced, new building has declined, causing property prices to rise (at around 15–20 per cent per annum in recent years) but also helping to ensure that new developments blend with their surroundings.

Property prices vary but are generally higher than in Spain, owing to higher land costs and generally superior quality. For those willing to renovate, it is still possible to find older properties inland at very reasonable prices.

Portugal also seems to have weathered the troubles affecting the property market in Spain well, and although prices have dropped, they have not suffered as badly as other countries. Strict laws have also avoided the planning irregularities that have plagued its neighbour, while new areas opening up along the Atlantic coast are providing the impetus for further growth.

Popular property locations in Portugal

Traditionally, the Algarve has been the first choice of British people purchasing second homes in Portugal. However, the resulting heavy demand and consequent rise in property prices are leading to increased interest in other, more northerly areas, principally the Silver Coast and the Costa Verde, where tourism is not yet as developed as it is in the Algarve and major transport and infrastructure improvements are being undertaken.

Next: Property in The Algarve >>

Related Articles

• Portugal: An Overview
• Guide to the Silver Coast
• Guide to Madeira
• Emigration Fact Sheet
• Costa Verde (Green Coast)