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PORTUGAL ATTRACTS MORE AND MORE OF THE FRENCH RETIREES

PORTUGAL ATTRACTS MORE AND MORE OF THE FRENCH RETIREES
By Joana P. . 5 years

Choose Portugal for retirement! This subject is not new, but each time it reveals new figures that confirm a movement already well under way. The French represent one of these not inconsiderable colonies coming to reverse a curve where, in the past, the Portuguese chose the France to find a sweetness of life that, besides climate, they found more like home. They find there further rapid adaptation.

 

The numbers

We should be aware that, during 2014, in Portugal one housing out of 5 has been acquired by a foreigner and among those, 16% are French.

To consider the raw numbers provided by CCIFP (Chamber of Commerce and Industry Franco-Portuguese), 2014 would see 7,000 French choose Portugal to come and settle, and 80% of the 7,000 French have choosen Portugal for retirement.

It is therefore a choice above all come sinking sweet hours that retain the French because, This is a great choice for both: 10% come to make investments, and 10% to exercise a liberal profession. According to the numbers of 2015, an estimate of this same organization put the bar of arrival of 20,000 French by the end 2016.

 

The profile

To define the single profile of the French person, who chooses Portugal for retirement would not be difficult.

Some prefer Portugal to  enjoy the best possible location. Gaining between 4 and 6% return on the apartment rental in Lisbon is more in France.

As recognized by the Portuguese real estate developers, two different profiles are found: one side very wealthy French, who chooses the Algarve, and buys vast properties for several million euros, or where the most beautiful beaches and the hottest sun is and also there are those with a smaller budget, selling their property in France and investing in Lisbon or its proximity  spending from 200,000 to 400,000 euros.

The French connection is boosting the Portuguese property market, where last year foreigners accounted for over a fifth of sales.

 

The reasons

 

The sun, quality of life, security and the cost of living- all attracts French retirees to join Portugal for retirement more than in many other European countries , especially significantly greater than Morocco - favorite old-fashioned destination of French.
However it is widely recognized that the cost of living in Portugal is around 30% lower than in France.

 

igures showed that housing in Lisbon traded at an average price of 3,240 euros per square meter, which is seen to be between the 2 and 3 times less than in Paris, when comparing one capital to another.

Of course the prices depend on a region, the district, as they vary. If we saw some prices, previously, Lisbon, they can also descend to 2,000 euros per m² and up to 10,000 euros/m² in Chiado. Similarly, you can find a nice apartment around 50,000 euros provided that you agree to leave outise Lisbon.

 

Mangin, who serves as Algarve delegate for the Union of French Expatriates, says about a third of those heading there are motivated by tax reasons. Others are lured by Portugal’s laid back, low-crime reputation. “This country is considerably cheaper than France. We live under sunshine, pensions go further, we pay less taxes, there’s security,” he told POLITICO. “I’m getting lots of enquiries from French people living in Morocco, but also from some who have retired on the Côte d’Azur but want to sell up and move because they feel it’s safer here.”

 

And the future?

Everyone is entitled to ask questions to select the best  destination for peaceful quality living, and Portugal is a great place for all who are interested in a secure future and who cares about the financial interest. 


To show reassuring, it may be noted that successive governments have always had the project of bringing foreign to revive the Portuguese economy and, at all times, life in Portugal was less expensive than in comparable European countries. Especially as the sun should, too, continue to please its' citizens.

 

Joana P. Responsável Comercial
Joana P. Responsável Comercial