Although Portugal is still facing financial difficulties, it has taken extensive steps to towards economic recovery, and is still regarded as being one of the best places in the world for retirees, and is especially popular amongst the British. A recent survey by an insurance company looked at 25 different countries, assessing different criteria.
These included the total number of hours of sunshine, temperature, rainfall, the cost of living and health care, petrol costs, and of course property prices. Portugal came a very respectable second after Malta.
Anyone choosing to retire to Portugal will find it quite a familiar environment that has the third-largest European British expatriate community. They’ll also probably enjoy an enhanced standard of living, and it’s worth remembering that Portuguese property is up to three times cheaper than French property.
Buying property in Portugal is a relatively straightforward process, although the transaction can take several months to complete, but generally takes an average of three months. Anyone wishing to purchase a home in Portugal has to have a fiscal number, also known as a tax card. It is easily obtained from any tax office and costs just a few euros.
After this is simply a question of having a legal document drawn up by a solicitor and signed by all the parties concerned. This protects the buyer against gazumping, and also protects their deposit. The sale completion is usually carried out by a notary, but can also be completed at the Land Registry Office. It’s also important to register the property with the Land Registry Office.