Thinking about buying a Luxury Home in Algarve? Discover why this is an opportunity you should seize right away!
The Algarve is a region in Portugal that annually draws investors and property buyers from all around the world.
With over 300 days of sunshine and a mild Mediterranean climate year-round, this is just one of the many compelling reasons to consider the Algarve.
Our team has condensed the top 8 reasons you should contemplate if you're pondering investment or home purchase in this exquisite region (but there could be many more, trust us!):
1. Exceptional Climate
Let's begin here... the Algarve's Mediterranean climate allows for outdoor activities year-round, including refreshing sea swims.
For this reason, the region is a true heaven for golf aficionados, boasting almost 50 courses set in spectacular landscapes, including renowned options like Penina, Quinta do Lago, Vale do Lobo, and Vilamoura.
2. Strategic Location
Thanks to superb transportation links, Faro International Airport offers regular travel to other parts of Portugal and the world, throughout the year.
From Faro Airport, within a short 2.5 to 3 hour flight, you can reach most of European cities.
3. Quality of Life
Portugal offers an outstanding quality of life, featuring a top-notch healthcare system, renowned education and technological advancement.
For instance, fiber-optic internet is available in nearly all of the Algarve region.
When compared to other European countries, housing, services, leisure, and education come at reasonable prices.
4. Safety
Portugal consistently ranks as one of the most peaceful countries in the world, creating a secure environment for both living and investing.
5. Communication and Hospitality
Most Portuguese people speak multiple languages, making communication effortless for foreigners who are often attracted to the warm hospitality of the Portuguese, which makes them feel welcomed and at home. In the Algarve, an international community is thriving, complete with international schools.
6. Gastronomy
Portuguese cuisine, particularly in the Algarve, is renowned for its delectable seafood and fish dishes, top-quality olive oil, delectable bread and delicious sweets.
7. Quality of Condominiums, Resorts & Property
Luxury homes in the Algarve offer exceptional construction quality and outstanding design. They prioritize privacy, boast high-quality finishes and provide various leisure options.
8. Tax Benefits
The Non-Habitual Resident status is a special tax regime available to anyone who hasn't been a tax resident in Portugal in the past 5 years.
Granted for a decade, it ensures, for example, that foreign pensions are taxed at a flat 10% rate, provided you spend at least 183 days annually in Portugal and have a verified residential address.
Important note: the Non-Habitual Resident program is changing from 1st January 2024. For this reason we urge buyers to act now and apply before the end of 2023, to still take advantage of these benefits.
It's easy to see why investments and property acquisitions in the Algarve are so popular among people from across the globe and why this is an opportunity you should seize right away, isn't it?
Are you contemplating purchasing a luxury property in the Algarve? Don't delay, secure the prime location now!
With the Exclusive Algarve Villas team, offering nearly two decades of experience and access to the best Algarve locations, you can expect a direct, fast and efficient approach that respects your privacy and is conducted in your language.
Whether you're interested in buying or selling a luxury property in the Algarve region, get in touch with us now, with no obligation!
Or take a look at some of the currently available properties HERE
Fonts:
https://www2.deloitte.com/pt/pt/pages/tax/articles/residentes-nao-habituais.html
https://portaldascomunidades.mne.gov.pt/images/GADG/IRS__Regime_Fiscal_Residente_N%C3%A3o_Habitual.pdf
https://www.valadascoriel.com/wp-content/uploads/2023/02/PT_BROCHURA-RNH_VCA_VALADAS-CORIEL-ASSOCIADOS_BENEFICIONS-FISCAIS-PORTUGAL_FEV-2023.pdf