Life in Algarve

(2024)

souris

The advantages of buying in Portugal

Read Time: 8 minute(s)

The quality of life in Portugal is undeniable. The country performs well in several dimensions of well-being compared to most other countries in the Better Life Indicator. It is above average in the dimension of housing, security, and environmental quality.

1. Safety

It is with pride that Portugal received the title of 3rd most peaceful country in the world, out of the 163 countries studied by the Global Peace Index. The Institute for Economics and Peace has classified these countries according to their degree of pacifism. Portugal is considered the third most peaceful country in the world thanks to its political stability, the absence of internal conflicts and the relatively low level of violence.

2. Climate & Environment

Although bordered by the Atlantic, the Algarve enjoys a Mediterranean climate, probably the most pleasant in Europe. Faro has an average of 320 days of sunshine per year, one of the highest averages in Europe. The Algarve also has the most beautiful beaches in Europe and has been awarded several times.

Our region is also a golfer’s paradise. Several times considered the best golf destination in the world by reviews of this modality and international associations of specialized tour operators, the Algarve honors this distinction by maintaining foolproof quality.

3. Ecology

Portugal produced record levels of electricity from renewable energies in 2023.  Wind accounted for a quarter of the electricity consumed in the country, ahead of hydro, photovoltaic and biomass. The Portuguese capital was awarded “European Green Capital” for the year 2020. The European Commission has chosen to reward Lisbon for all the measures put in place to become a greener city and involve its citizens in environmental, social and economic sustainability. 

4. Tax advantages

The golden retreat in the steep streets of Lisbon is already ancient history. Indeed, Portuguese Prime Minister Antonio Costa has just announced the end of the tax exemption reserved for foreigners from 2024. Introduced in 2009, this advantage allowed foreigners, particularly pensioners, living at least half the year on Portuguese soil to benefit from a total tax exemption for a period of 10 years, until 2020. Since then, a reduced tax rate of 10% has been applied. A measure that has largely benefited French, Italian or Spanish pensioners in the Algarve (south of Portugal), as well as in the Lisbon region. In total, since 2012 and the simplification of procedures, about 10,000 foreigners have settled in the country.

Taxes in Portugal are therefore higher than in France (difference in the tax rate of + 13.96%), but the cost of living is cheaper (from -10% to -20% – it will depend on the type and amount of expenses you have per month).

5. A profitable tourist rental market

"Alojamento local"

The establishments of Alojamento Local or AL (which literally translates to «local accommodation») in Portugal are those that provide temporary accommodation services, especially to tourists, for remuneration, as long as they do not meet the conditions to be considered as tourist resorts. Simply put, this corresponds to the commercial use of a property for short-term rentals to tourists.

When you buy a property in Portugal for the purpose of renting it to tourists, there are many options available to you, as tourism is well established in most parts of the country. However, the larger the city, the more AL offers and opportunities you will find.

AL

6. Education & culture

Over the past eight years, the number of foreign students enrolled in Portuguese higher education institutions has more than doubled, proving their excellent reputation.

Thus, the landscape of higher education and science has evolved in recent years towards an open, multicultural and international environment. Dozens of languages are now heard on any Portuguese campus and an increasing number of courses are available in English.

For Portugal, sustainable tourism is a real priority. It presents itself as «one of the most competitive, safe and sustainable destinations in the world thanks to economic, social and environmental development throughout the territory». It is one of the 20 best countries in the world in terms of sustainable development.

The oldest nation in Europe is deeply attached to its history and traditions. Portugal’s cultural richness is revealed through the finesse of its architecture and art, its famous melancholic music, Fado, as well as its family and gourmet cuisine.

8. Technology

The Portuguese technological sector is very innovative and accounts for nearly 10% of the country’s GDP. Investment in the technology sector in Portugal has increased considerably.
Other technologies are advanced in Portugal such as the banking system in Portugal. ATM is a unique system that allows you to consult various accounts, pay services, taxes, make money transfers and even purchase train tickets on the same device. MB WAY, a smartphone and tablet application launched by SIBS, which allows them to pay in-store purchases and transfer money between different banks.

Via Verde, launched in 1991 by Brisa, a Portuguese company that manages 15 motorways, small sensor placed at the front of the windshield of the car that avoids the stop at tolls and thus significantly reduces traffic jams. Via verde has improved with automatic payment in car parks, gas stations, ferries.

In addition, Living in Portugal, offers you optical fiber almost everywhere, so you have a broadband internet connection; convenient to make a Face time with the family. 

EDP, Energy of Portugal, is the 4th largest global player in wind energy and one of the largest energy players in the Iberian Peninsula.

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7. Airports

As a member of the European Union, Portugal offers connections to the main European capitals. The country is known as the gateway to the European continent by its geographical location, representing a meeting point between Europe, Africa and America.

The advantages of buying in Portugal

The quality of life in Portugal is undeniable. The country performs well in several dimensions of well-being compared to most other countries in the Better Life Indicator. It is above average in the dimension of housing, security, and environmental quality.

1. Security

It is with pride that Portugal received the title of 3rd most peaceful country in the world, out of the 163 countries studied by the Global Peace Index. The Institute for Economics and Peace has classified these countries according to their degree of pacifism. Portugal is considered the third most peaceful country in the world thanks to its political stability, the absence of internal conflicts and the relatively low level of violence.

2. Climate & environment

Although bordered by the Atlantic, the Algarve enjoys a Mediterranean climate, probably the most pleasant in Europe. Faro has an average of 320 days of sunshine per year, one of the highest averages in Europe. The Algarve also has the most beautiful beaches in Europe and has been awarded several times.

Our region is also a golfer’s paradise. Several times considered the best golf destination in the world by reviews of this modality and international associations of specialized tour operators, the Algarve honors this distinction by maintaining foolproof quality.

3. Ecology

Portugal produced record levels of electricity from renewable energies in 2023.  Wind accounted for a quarter of the electricity consumed in the country, ahead of hydro, photovoltaic and biomass. The Portuguese capital was awarded “European Green Capital” for the year 2020. The European Commission has chosen to reward Lisbon for all the measures put in place to become a greener city and involve its citizens in environmental, social and economic sustainability. 

4. Tax advantages

The golden retreat in the steep streets of Lisbon is already ancient history. Indeed, Portuguese Prime Minister Antonio Costa has just announced the end of the tax exemption reserved for foreigners from 2024. Introduced in 2009, this advantage allowed foreigners, particularly pensioners, living at least half the year on Portuguese soil to benefit from a total tax exemption for a period of 10 years, until 2020. Since then, a reduced tax rate of 10% has been applied. A measure that has largely benefited French, Italian or Spanish pensioners in the Algarve (south of Portugal), as well as in the Lisbon region. In total, since 2012 and the simplification of procedures, about 10,000 foreigners have settled in the country.

Taxes in Portugal are therefore higher than in France (difference in the tax rate of + 13.96%), but the cost of living is cheaper (from -10% to -20% – it will depend on the type and amount of expenses you have per month).

5. Un marché locatif rentable

The establishments of Alojamento Local or AL (which literally translates to «local accommodation») in Portugal are those that provide temporary accommodation services, especially to tourists, for remuneration, as long as they do not meet the conditions to be considered as tourist resorts. Simply put, this corresponds to the commercial use of a property for short-term rentals to tourists. When you buy a property in Portugal for the purpose of renting it to tourists, there are many options available to you, as tourism is well established in most parts of the country. However, the larger the city, the more AL offers and opportunities you will find.

AL

6. Education & culture

Over the past eight years, the number of foreign students enrolled in Portuguese higher education institutions has more than doubled, proving their excellent reputation.

Thus, the landscape of higher education and science has evolved in recent years towards an open, multicultural and international environment. Dozens of languages are now heard on any Portuguese campus and an increasing number of courses are available in English.

For Portugal, sustainable tourism is a real priority. It presents itself as «one of the most competitive, safe and sustainable destinations in the world thanks to economic, social and environmental development throughout the territory». It is one of the 20 best countries in the world in terms of sustainable development.

The oldest nation in Europe is deeply attached to its history and traditions. Portugal’s cultural richness is revealed through the finesse of its architecture and art, its famous melancholic music, Fado, as well as its family and gourmet cuisine.

7. Airports

As a member of the European Union, Portugal offers connections to the main European capitals. The country is known as the gateway to the European continent by its geographical location, representing a meeting point between Europe, Africa and America.

8. Technology

The Portuguese technological sector is very innovative and accounts for nearly 10% of the country’s GDP. Investment in the technology sector in Portugal has increased considerably. Other technologies are advanced in Portugal such as the banking system in Portugal. ATM is a unique system that allows you to consult various accounts, pay services, taxes, make money transfers and even purchase train tickets on the same device. MB WAY, a smartphone and tablet application launched by SIBS, which allows them to pay in-store purchases and transfer money between different banks.  Via Verde, launched in 1991 by Brisa, a Portuguese company that manages 15 motorways, small sensor placed at the front of the windshield of the car that avoids the stop at tolls and thus significantly reduces traffic jams. Via verde has improved with automatic payment in car parks, gas stations, ferries.  In addition, Living in Portugal, offers you optical fiber almost everywhere, so you have a broadband internet connection; convenient to make a Face time with the family.   EDP, Energy of Portugal, is the 4th largest global player in wind energy and one of the largest energy players in the Iberian Peninsula.