Here is one of the most exciting times of the year. As the festive season came to an end, our resolutions for the new year surfaced earlier in January. I know from personal experience that new year resolutions tend to fizzle by March, however, with the changing world and expectations, this year is going to be a year in which people will definitely seek change in the way they live.
When I talk to friends and prospective clients, I realize that starting a new life in a different country or obtaining a ‘Plan B’ residency is one of the most common resolutions. They’re searching for places where they can live a healthy and sustainable lifestyle. Having Portugal on top of their list is no coincidence.
Portugal Offers the Best of Both Worlds
The majority of investors I’ve spoken to say that their main motivation is to escape the hustle and bustle of metropolitan life and to find refuge in Portugal. This is especially the case with the British people. They fall in love with the Portuguese countryside but they also find it relieving that the city is very close and easily accessible. I know of many Londoners who rush to their surfing community once they’re done with their online meetings. It’s a great place where they can find the right work-life balance.
Property Prices Are Still Attainable
Although Portugal has been on the radar of international real estate investors for so long, it’s still possible to find properties that are affordable. Take Lourinhã for example. It’s a spot that offers unique properties, lots of rugged hills, vineyards, and olive gardens. While the hills offer privacy to the town, it’s still a short drive away from major cities. Many investors are rushing to get farmland in Lourinhã, while the prices are still attainable.
Getting Residency Is Another Motivation
The long-awaited changes to Portugal Golden Visa finally came into effect at the beginning of this year. It might take time for some investors to digest the new rules — such as the end to residential property acquisition in Lisbon, Porto, or along the coast. Although, there is another group that believes in the growth potential of interior and low-density areas. They’re still interested in the real estate route and have already started their search. Thanks to the private forestries backed up by the ocean, Melides, a low-density area, is emerging as a hotspot. Our team has been speaking to many prospective investors from the US who are looking to buy a house there and qualify for a Golden Visa.
A Perfect Base for Young Expats and Promads
The thriving digital nomad community in the country has started a buzz among millennials who are looking for more freedom along with many opportunities. Portugal, especially Lisbon, offers many coworking spaces where they can meet fellow nomads. I believe the rising interest from these young professionals has made a positive impact on Portugal’s popularity as a newly emerging hub. The crypto investors who want to enjoy the country’s tax-free crypto regulations are other contributors to this growing ecosystem.
Portugal Has It All
Apart from the above reasons, Portugal has everything people look for: good weather, delicious food, nice beaches, and rich culture. It’s the fourth safest country in the world and the third one in Europe. It also has proven itself as a safe harbor against the current war against the pandemic, without the tension that has dogged other parts of the world. This also explains the increasing demand from Australians, Canadians, and Americans who are looking for tranquility in Portugal.
I hope that this new year will be a good one in which everyone can achieve their resolutions. Please feel free to contact us with any questions you may have about buying property in Portugal or getting a Portugal Golden Visa to make your Portugal dream come true. Our team will be pleased to answer any inquiries you may have.