If you happen to be an investor who will step into the realm of real estate Portugal for the very first time, how can you be sure that your purchase will be a successful one? Whether you are searching for the perfect property or you just want to increase your knowledge about the market, there are several things you have to consider when you search for and buy real estate Portugal.
Location Always Matters
If you are thinking of getting a property in Algarve, it has more than 90 flights every day during summer and more than 60 during winter months unlike Lisbon that only have 8 flights daily. It is an important factor if you have plans to invest in a property that will generate rental income. Lisbon is more suitable for long term rentals while the Algarve is popular for short term rentals.
Financing the Property Purchase
There are two options available for you when it comes to financing the purchase of a real estate Portugal (https://www.bluehomes.com/Immobilien-Portugal-kaufen+verkaufen/kat.html). First, you can look for a property whose seller comes from the UK then agree on a price in sterling. You can also apply for a mortgage in Portugal where there are low interest rates that could be fixed for as long as 35 years. You can have your exchange rate fixed for two years so it wouldn’t have any fluctuation.
Tax Liability and Investor Residency
The Portuguese Non-Habitual Residency Program gives those who are tax residents of the country and are NHR-accepted the chance to receive a qualifying income free from tax in Portugal as well as in the particular country where the income is being sourced. The regime of the NHR represents a big step towards making the country a tax-free jurisdiction for people who are recipients of qualifying non-resident incomes. These qualifying incomes can include pension, interest income, dividend, and royalty.
A Healthy Plan for Retirement
There are actually a lot of reasons why retiring in the Algarve is such a wonderful idea. The quality of life, low cost of living, tax-free pension for up to 10 years, the weather, and the beaches are just some of the things that make the place an enticing retirement spot.
Retirement in the Algarve also provides a sense of serenity and peace, not to mention that retirees can also enjoy the array of opportunities for an active and healthy retirement with events, entertainment, sports, socialization, and other ways to remain young at heart no matter what your age might be available all year round.
Before you decide to buy real estate Portugal, it is recommended that you go on an extended holiday in the country first for a month or so. The ideal time to visit is between the months of November to March to experience the quietest period of the country. You can also visit during busier months of April to October. With this visit, you can become more familiar with the way of life in the country and decide if buying real estate Portugal is good choice for you or not.