Experts have named Portugal as the hotspot of UK expats who are looking for a new home. The nation has been highlighted in two new reports for both its low living costs and the luxurious lifestyle that it offers.
Kronos Homes experts, who are behind the key-ready Amendoeria golf resort properties, say that the area offers low-cost property options.
Alda Filipe is the Kronos Homes sales and marketing director. She stated that Portugal has a superior quality of living, it’s value as a vacation destination and its short flight to the UK make Amendoeira a popular choice for families looking for a second home.
A spokesperson for AB Properties added that Portugal’s properties are cheaper than most of Western Europe, with property prices starting at EUR1,185/square meter.
Experts previously suggested that Portugal was a better option than Spain to Britons who are looking for a new home.
ExpatNetwork’s spokesperson suggests that this statement is especially true after Brexit.
Before Brexit, Britons were able to move easily to any country thanks to freedom of movement under the European Union (EU).
New post-Brexit regulations have meant that Britons will need to apply for visas to move into either country starting January 1, 2021.
These can be expensive, so ExpatNetwork experts suggest that Portugal is a better option for those who want to apply and pay the associated fees, especially for retired people.
ExpatNetwork spokeswoman said: “The NLV permits you to reside in Spain provided that you have enough funds and do not require to work.
It is this requirement which is creating problems for Britons.
You must show proof of a household income of EUR33.893 (approximately P29,388) per year, or EUR47.451 (PS41.144) per family.
This requirement will prevent many from retiring in Spain.
“Those retiring from a basic UK State Pension, PS9 339 in 2021 will not be eligible.”
Publiated at Wed. 28 July 2021, 13:47:52 +0000