The decision to purchase property anywhere can be daunting, but especially so if you’re considering purchasing internationally.

There are a multitude of reasons for purchasing property in Portugal, and the following list of ten reasons is a persuasive argument for becoming a property owner in the Algarve Portugal.

Climate: Compared with property values in much of Europe, the cost of purchasing property in the Algarve region are still competitive despite the recent boom in real estate. That means that if you decide to purchase property in this region, you’re likely to consider it a bargain compared to what you would pay in the UK..

Tourism Industry: With no end in sight, the drastic increase in tourism means that available land is being turned into hotels, resorts and other forms of entertainment to support the ever-growing tourism. This means that in some cases, strategically located tracts of land are being bought for commercialization. A well chosen piece of property does have the possibility of being turned around at a profit if developers choose to build a golf course or the next five star resort.

Economy: It is true that Portugal is not known for its huge exporting prowess, but the tourism industry has solidified this country’s economy and there is room for growth in businesses which support tourism. It is also relatively easy for European Union citizens to start a small business in Portugal as the country has made the paperwork process fairly easy in order to stimulate new growth. As a result, there is huge potential for the entrepreneur who is looking for land on which to build the next big business.

Simplicity: For the person looking to purchase property in Portugal as an investment, the process if fairly easy and straightforward. If you live outside the country, the entire process can be completed in a short time, usually well before five months have passed. Again this process has been simplified to encourage new growth, and it is made easier by the fact that all real estate agents in Portugal have to be licensed. Due to this fact, all agents are educated and well versed in the processes and procedures necessary to purchase land.

Way of Life : Portugal has maintained a rustic and pastoral way of life that is proving very appealing to many people. There has been a huge wave of expatriates, especially from the United Kingdom, who are looking to live a better lifestyle. Life in Portugal is about enjoying every day, and every moment of that day. Gone are the hectic hustle and bustle of the corporate ladder or the dizzying days of rushing here and there. It truly is a different way of life, a better life.

European Union: Purchasing property in Portugal for a citizen of the EU is not only simplified, but they have the benefit of living in another country inside the EU. Therefore they will retain all rights and privileges associated with being a citizen of the European Union.

Cost of Living : In many ways the cost of living in Portugal is comparable to other countries in the European Union. However, inflation is low as are the costs of non-imported goods like food and alcohol. In non-resort areas the cost of dining out is also lower, as are property prices. Many great deals can be found for those who are looking to purchase property in Portugal, and those living on a pension will find that it is relatively easy to stretch their Euros.

Planning Laws : In the early ’70’s the trend was to quickly build a variety of high rise buildings to meet the growing demand by tourists. The downside was that these buildings were ugly and looked inharmonious with the pastoral and rustic villages and country-sides which give Portugal its charm. As a result, a new law was introduced in 1993 which put a halt to unplanned development high-density housing. Now a developer must meet with a variety of rules and regulations prior to construction and as a result development has been stabilized and is much less intrusive on the landscape. For the property buyer, this means that they’re not going to get an unattractive high rise going up on the lot next to their quaint village cottage.

Buying to Let : Rental properties in high traffic destinations like the Algarve, are a hot commodity in today’s market. Purchasing property specifically to rent it out can be a wise decision if it is in the right area. With a plethora of management companies available, your property can be well looked after while you sit back and receive additional income. Plus, the added benefit is that you have inexpensive accommodations available for your own vacations.

Short Term Investments: Certain areas of Portugal like Lisbon, are undergoing major renovations. Property purchased in one of these markets which is then renovated or updated can result in quick gains if the surrounding infrastructure is also being remolded. Purchasers who are willing to put the effort and money into a remodel in an area like this can see a lucrative return on their investment.

As one can see, there are a multitude of solid reasons for purchasing property in Portugal. Add to this the country’s desire to make the process as simple as possible and you can be faced with the question “Why not?” when asking if one should or shouldn’t purchase property in Portugal.

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