Study finds Portugal Amongst Top Holiday Home Destinations

31 Jul 2023

There's no denying the charm that Portugal offers as a holiday destination. With its enchanting landscapes, captivating history, and the warm hospitality of its people, it's no surprise that Portugal stands out as a favoured choice for those looking to buy a holiday home abroad. A recent study by the iad Group published in Essential Business provides ample evidence for this claim.

The iad Group, which specialises in offering a platform for international real estate investment, conducted a survey to understand the English and French preferences when purchasing overseas properties. Among the 4,000 participants surveyed (2,000 from each country), a significant portion expressed a keen interest in investing in a home away from home. Of this number, 25% of French and 28% of English respondents identified Portugal as their top pick. It's worth noting that most of these participants were prepared to invest a substantial amount, ranging from €200,000 to €400,000 per property.

Speaking about Portugal, Alfredo Valente, CEO of iad Portugal, said, "For many years, Portugal has been attracting more and more foreigners given that Portugal has special characteristics such as a mild climate, security, the friendliness of the Portuguese, and a lower cost of living. On the other hand, there are also attractive tax benefits that Portugal offers if they choose to relocate."

Beach in Portugal with cliffside houses

 

Portutax: Your Tax Partner in Portugal

If you're among those Brits or French considering a second home or relocation to Portugal, there are a few essential services you might need, and this is where Portutax steps in:

Fiscal Representation
Given the complex nature of international property investments and the need to understand local tax regulations, having a fiscal representative in Portugal is invaluable. Portutax provides a comprehensive fiscal representation service to ensure that all your tax commitments in Portugal are met accurately and timely.

NHR (Non-Habitual Residency)

Portugal's NHR regime offers tax benefits for expatriates, including tax exemptions on some foreign income. Portutax's experts can guide you through the NHR application process and help you make the most of these benefits.

Accounting Services
From ensuring compliance with local regulations to optimising your financial dealings in Portugal, our experienced accountants are here to assist. Whether it's property tax, rental income, or any other accounting need, trust Portutax to manage it for you.

As the findings of the iad Group highlight, Portugal is undeniably a top choice for Brits and French seeking a slice of paradise. Dive into Portugal's vibrant culture, stunning landscapes, and welcoming community, and let us handle the numbers.

Portutax is a member of the Gibro Group of companies. Established in 1975, the Gibro Group provides individuals and businesses with professional and bespoke trust, corporate, legal, private client and family office services.

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