Buying a house in Portugal, these are the 10 reasons
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Process
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Portugal
Tax exemption is just one reason to choose Portugal. Portugal has become a sought-after emigration country, ranking 5th in the top 5 expat destinations. This, of course, is for good reason. Its beautiful nature, hospitable people and pleasant prices in restaurants, cafes, etc. support the choice. The title of this article has probably caught your attention, but although it is not for everyone, there are plenty of reasons to choose living in Portugal. We give only 10 here!
Buy a house in Portugal and pay no income tax for 10 years
But first a word about the tax exemption. Portugal likes to attract pensioners as new residents of Portugal. They do not enter the (limited) labor market but do strengthen the economic situation in the country. For this reason, no income tax is levied by the tax authorities for the first 10 years after settling in Portugal.
This advantage is there for the Belgians, but unfortunately not for the Dutch because the Netherlands has stated in its tax treaty that if Portugal does not levy taxes, the Netherlands may do so, so this benefit passes by the Dutch noses.
The cost of a vacation home in Portugal
Buying a home naturally involves costs, but they are really not that high in Portugal. If you are settling permanently, you pay no transfer costs on a purchase up to 92,400€. For a vacation home, the rate is 1%. Above that you will pay 0.8% stamp duty. Notary and registration fees will generally not exceed 400€. After the purchase you will have to pay an annual municipal tax, which will usually be around 0.3% of the assessed value (lower than actual value).
Living in Portugal? Cheap living!
The packaged food in the supermarket has similar prices as in Belgium or Holland. But fruits and vegetables from the market (or from your neighbors) are considerably tastier and cheaper. Even meat and fish are often better quality and cheaper. An espresso coffee costs about 0.60€, a beer or a glass of wine less than one euro and a good wine from the supermarket often costs no more than 2 – 5€ per liter. The “holding tax” for your car is low. For cars registered before July 1, 2007 (regardless of fuel type) this hardly ever exceeds 50€ per year! Also the garage costs are definitely very low.
Hospitable people
Do you want to know something, are you lost? Then there will soon be someone ready to help you. Don’t be surprised if you are immediately invited to join them for dinner or a glass of wine. No matter how little the Portuguese have themselves, they share even that easily. One is always willing to chat and help the other.
Crime occurs in every country, including Portugal. But Portugal has one of the lowest crime rates in Europe! Attacks based on political or religious differences do not occur in Portugal.
Health
A World Health Organization (WHO) survey puts Portugal 12th in the ranking, Luxembourg 16th, the Netherlands 17th and Belgium 21st.
Climate
Although Portugal, like Spain, is on the Iberian Peninsula, it has a different climate. Portugal is generally a bit cooler than Spain because of the cooler seawater of the Atlantic Ocean. The west of the country has a temperate maritime climate and the south (the Algarve) has a Mediterranean climate. The entire country generally has with warm dry summers (slightly cooler in the northwest). Portugal is therefore a popular vacation destination for good reason. Many tourists choose to book a vacation to Portugal.
The nice thing about Portugal is that it usually cools down nicely in the evening, so one can sleep well and cool the house again for the next day.
Precipitation
In the summer months there is relatively little precipitation throughout Portugal. With an average of a few dozen millimeters per month, you will soon have had it. The wettest is the area around the Serra de Estrela (central Portugal), which accounts for about 2,500 millimeters per year. This is caused by rising moist air from the Atlantic Ocean.
Peace, space, nature
The beautiful nature: mountains , reservoirs and forests constitute a strong attraction. But also the fact that one can find a house with a lot of living space around it for very affordable prices and even get a dish of the day incl. wine and coffee for 5 -7,50€ strongly contributes to the attractiveness of the country.
The population mix
About 10-11 million people live in Portugal. That means there is a lot of space. The minimum wage is very low, so many (mostly young people) leave to work abroad.
Quite a few English people have settled in Portugal. Germans, Belgians and Dutch are in the minority. Of course, there are concentrations (mostly in the center and south of Portugal, but the whole country is considered pleasant and it is personal preferences that determine the place of settlement. Asylum seekers do not find Portugal an attractive settlement country. They may be safe there, but they do not find luxury.
Language
The Portuguese language is still a “thingy” for Belgians and Dutch. But the willingness of the Portuguese to communicate with foreigners is great and with hands and feet and French or English one can usually manage. Many Portuguese have either worked abroad themselves or have family members who have worked there.
Source: Easy Living Portugal
A list of articles
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Why it is good to invest in a vacation home in Portugal
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Portugal
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Process
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The tax aspects of a holiday home in Portugal
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Portugal
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Process
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Tax/legal
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Why buy a house in Portugal?
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Portugal
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General
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Process
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