Although Portugal may still be recovering from the economic crisis, its tourism industry is very much alive and kicking. While property in Portugal might not be quite as cheap as Spain, it is still pretty desirable, and the Portuguese government is doing its best to boost the market share of homes sold abroad. It’s currently trying to entice more foreign investors, and has introduced a number of new reforms including tax incentives of offering a flat rate of 20% to foreign residents and new residency reforms.
The very best of Portugal’s tourism industry recently travelled to London to try to boost the second home market. At the moment Portugal is 18th in the world for the number of tourists, but the government fully expects its ranking to increase.
In particular it’s looking to boost the year-round attractiveness of the country which in turn would support this business is dependent on tourism such as local restaurants. At the moment Portugal sells approximately 5,000 homes per year with average value of €200,000 each. The aim is to at least double this figure, and a new guide is to be produced in helping people to make the move to Portugal, or to explain the process of buying property there.
This guide includes important information on the residency permits, taxes, schools and health care, as well as pointing out exactly why Portugal is such a great place to live. It’s certainly still a popular country to visit, something that is constantly recognized by UK holiday companies. A leading online holiday planning company recently announced new holiday packages to Portugal, including a flight booking service to cater for the increased demand and interest in the country this year.