Portugal’s new left wing coalition already announced earlier this year various policies to ease austerity in the country. We take a look at what’s changing, and whether the moves are sustainable. Austerity in Portugal has hit citizens hard over recent years. Residents of some other European countries may feel they’ve suffered from cuts and tax increases since the 2008 financial crisis, but Portugal has paid a higher price than most.
Portugal’s second city has lagged behind the Algarve and Lisbon in international buyers’ affections, but could rapidly rising prices and a billion euro facelift tempt more of us north? Prices in the historic heart of Portugal’s second city, Porto, rose by 17.1 percent in 2015, according to figures just released. This backs up data from RICS, the Royal Institution of Chartered Surveyors, whose most recent quarterly survey found strong confidence among property professionals throughout Portugal, but especially in Porto.
Could Bacia do Arade soon be as famous as the Costa del Sol or Cote D’Azur? Four ambitious local mayors in the western Algarve are hoping that rebranding and promotion can make more of us buy property there. The mayors of four towns in the western Algarve have joined forces to improve tourism, property sales and the entrepreneurial environment. The municipalities of Portimao, Monchique, Lagoa and Silves will be united under the brand name Bacia do Arade, after the Rio Arade that flows into the Atlantic at Portimao.
According to a recent Huffington Post feature, Portugal is the “best place in the world to live or retire.” Will the report result in a new flood of interest in the country? Portugal has been named as “the best place in the world to live or retire” in an article in The Huffington Post this week.
If you’re struggling to decide whether to move to Portugal or not, take some advice from the locals – and get packing! Algarve Daily News, the magazine for expats living on Portugal’s sunny south coast, has identified six great reasons why the British should choose a new life in their country. We think we can do even better than that, so we’ve taken their six and added a few of our own!
