Portuguese property values have been static or falling for the past 6 years, but there is plenty of evidence to suggest that the cyclical downturn is coming to an end. Here are 5 reasons why now is the best time in 25 years to buy a property in Algarve:
1. Great tax incentives – the Portuguese want your investment – with options available such as the Non-habitual residents scheme and The Golden Visa scheme;
2. 7 years ago, when exchange rates were last this high, property prices were between 30-50% higher than they are now. Savings like this could mean you ideal property is now within your budget;
3. Mortgage lending is increasing as banks become more open to providing mortgages to those looking to a second home in the sun;
4. The latest survey from RICSW/CI suggest property prices will rise by 2% in the next year. Buy now before prices start to rise;
5. The pound to euro exchange rate is at the highest level for 7 years. UK buyers spending power has increased by 25% since 2012.
... and of course not forgetting:
1. The sunshine;
2. Easy Travelling;
3. Low Prices for High Quality Properties;
4. High Rental Returns;
5. Beautiful places to visit;
6. Super cuisine;
7. Low cost of living.