In spite of its economic woes, Portugal will always remain popular with British buyers, and it is estimated around 50,000 British nationals now live permanently in the country, and numerous other Brits have chosen to buy a holiday home there. It’s easy to see the attraction as Portugal has a reputation of being very safe with a low crime rate.
A survey by the UN found Lisbon to be the safest capital in Europe. The countryside is beautiful and quite diverse, ranging from sandy beaches in the Algarve to more mountainous terrain and vineyards in the North. Prices have declined in recent years and it’s possible to find affordable and realistically priced homes.
This is especially true if you choose an area that is slightly less touristy. One region that is becoming increasingly popular is just north of Lisbon, and is ideal for anyone looking for a quieter retreat on the Silver Coast.
It’s relatively easy to buy property in the country, although non-residents need to obtain a Fiscal Number and need to appoint a Fiscal Representative. This number is very important as it appears on all documents related to the property purchase, and couples purchasing a property must make sure to both obtain separate Fiscal Numbers.
The costs of buying a property are relatively straightforward, although they are subject to change. Estate agent fees are paid by the seller, but other costs include Land Registry fees, Stamp Duty, and notary fees. VAT is payable on new properties, but this cost is normally included in the price.