The Telegraph says you should buy your holiday home in Portugal
Lisbon, Porto, Faro and Tavira are the ideal destinations to buy holiday homes in Portugal
According to the British newspaper The Telegraph, buying a holiday home in Portugal for the British no longer has exactly the same meaning as before. Previously, it meant golden dunes and extensive and green golf courses in the Algarve. However, the large-scale regeneration that has taken place in recent years in Lisbon, as well as Porto's growing appeal as a weekend destination, are encouraging buyers to buy homes in the city.
“The British buyers we see in Lisbon and Porto are typically over fifty and specifically say: 'I do not want a golf ghetto'”, says Charles Roberts of Fine & Country Cascais, on the Lisbon coast, to The Telegraph. “They want monuments and museums, great restaurants and culture”, he adds. In order to give new life to the cities of Lisbon and Porto, Airbnb, a platform for renting housing, was also a major contributor.
The Chiado zone, for example, was degraded and thanks to the local accommodation is currently revitalized. “The rent laws have changed and the buildings have been transformed into modern apartments which are now highly demanded for rental”, says Charles Roberts. “Chiado is the kind of noisy neighbourhood where you would not want to live full-time, but that's exactly what the Airbnb market wants, and this has made a lot of properties much more valuable. Prices in Chiado rose 30% in the last two years.”
Two other factors that The Telegraph refers to as attractive for foreigners to settle in Portugal are the golden visa regime, which offers visas for the European Union and passports for the whole family in exchange for a minimum investment of 500 thousand euros, and the Non-Habitual Residents regime, an option that offers tax benefits for those who spend at least half of the year in Portugal.
According to The Telegraph Lisbonne outcomes many international cities, including San Francisco, Paris and London, when it comes to quality of life, quality/price relation and investment potential. The prices in the Portuguese capital are currently a fifth of those seen in London and a third of those in Paris. However the British journal underlines the countless factors that render Lisbon as a place worth of investment, such as life style, historical heritage, colourful streets, bubbly night life and the fact that Lisbon is considered the capital of technological start-ups, since it hosted Web Summit last year.
“Lisbon set, over the Tagus river, gives it a unique natural light”, affirms Rafael Ascenso of Porta da Frente, an agent of Christie’s International Real Estate in Lisbon, who considers Lisbon a city where you feel home. “Its history, its climate and the food render the city very special. But the main advantage offered is a calm and safe life in a country where everything works and where visitors are welcomed as if they were Portuguese citizens”. The most wanted areas, adds Rafael, are Chiado, Baixa and the surroundings of Avenida da Liberdade.
The British paper also highlights Porto, described as “a city full of charm, with a medieval core protected by Unesco and the beautiful atlantic beaches fifteen minutes by car”, as well as the Douro valley “magical” zone. The Telegraph points out Faro, in Algarve, for its medieval neighbourhood well preserved and some of Portugal’s best beaches at its door, as well as Tavira with its typical houses and away from Seville by just two hours.
Source: The Telegraph
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