Ten reasons for buying Portugal

1 Stable, well established property market

2 Euro mortgages

3 Low cost of living

4 Good access with low cost flights and journeys short enough to make it viable for weekend visits

5 High standard of build and interior finishes

6 Healthy climate, temperatures rarely drop below 16 degrees even in winter and Portugal is famed for having more sunshine than Florida

7 A range of properties and landscapes to suit different lifestyle requirements and budgets

8 Fantastic golf, with some of the best courses to be found anywhere in Europe

9 Plenty more on offer for those who are golf averse, with fantastic beaches, good quality horse-riding including top level instruction for the very keen rider (Portugal is renowned for its classical riding), hiking,  walking, the widest range of water sports and for the keen historian, an abundance of interesting places. 

10 The security of knowing you’ve bought in the most solid holiday and investment home environment

But Portugal is about more than the Algarve and in recent years other areas have attracted increasing interest, not merely due to their affordability in comparison with the ritzy Algarve but due to the fact that these are fabulous regions in their own right.

Buyers who wanted to stretch the budget began exploring further afield and discovered previously hidden gems, including the Blue Coast, the Lisbon Coast and the Silver Coast and wondered why it had taken them so long to discover such beautiful places. Property experts predict these up and coming locations will one day rival the Algarve in popularity, hence they are seen as a great investment.

For those who simply must have the Algarve, don’t despair. Despite its reputation, you don’t need the budget of a Premiership footballer to buy in this area, although you could find yourself rubbing shoulders with one or two on your travels. For those of us who live in the real world it’s possible to find something on a more modest budget so shop around.

We’ve loved Portugal for years and rightly so, but with Europe’s rich tapestry of history our ties existed long before we discovered the joys of holidaying abroad. These days we enjoy its fantastic climate, cuisine, culture, some of the best beaches in Europe, superb sporting activities, including top class golf, horse-riding and watersports and an abundance of interesting places to visit.

It’s a well worn  phrase, but whether you are looking for the glitz and glamour of the Algarve, soaking up the sophistication and culture in Lisbon, or relaxing on any number  of superb beaches with breathtaking sunsets, Portugal really does have something for everybody.

Economic growth is very impressive and with the current shortfall of housing, it’s an attractive prospect for buy-to-let and holiday rentals, the latter now boosted by more tour operators moving in. Some investors regard Turkey’s inclusion in the EU as a motivating factor, but the jury is out on this one and Turkey has some way to go before achieving full membership and somewhere along the way the Turks might just decide they’ve been thrown out of better clubs. But for many investors, membership is largely an irrelevance as Turkey is currently doing well enough without it, thank you very much, due in part to its strategic location, bridging two continents, which continues to attract large, multi-nationals seeking a foothold in that part of the world. Recent legislative changes have enabled Turks to obtain mortgages, but there is a huge shortfall of housing especially in Istanbul and its suburbs. Capital growth here has even outstripped the coast, which is significant as the coast has been very successful.

As with any overseas market, buyers need to be wary of where they buy and who they buy from. Research the market and find out which agents use the best developers, those with a reputation for offering quality build and good title. If it looks too good to be true, it certainly will be and buyers shouldn’t be tempted to believe buying direct from developers means saving money. It’s a fallacy that developers offer discounts direct to the public, plus they don’t offer impartial advice as they sell only their own product. Good agents have done the legwork to find the best developers and offer a wide  portfolio with something to suit all lifestyle needs and budgets.

There are some truly stunning projects on the Aegean and Med coastlines, set amid scenery to rival anything else in Europe, which offer something for different lifestyles, whether it’s the glitz and glamour of the Bodrum area on the Aegean or the stunning scenery and tranquillity of Fethiye on the Med, or maybe the vibrance of  Istanbul, currently one of the best places for investment.

There won’t be a better time to buy in Turkey, so if that’s what you’re looking for do it now.

Ten reasons to consider joining them;

1 Stable economic environment, currently enjoying excellent capital growth

2 A favourite among the investor community due to the dearth of housing

3 Currently more for your money than many of the established markets

4 Some of the most stunning scenery and beaches to be found anywhere in Europe

5 Rental market opening up with many leading tour operators, hence opportunities to achieve rental income

6 One of the more stable environments to buy if you are merely seeking an investment opportunity and this is the time to do it

7 Regardless of Turkey’s possible inclusion in the ‘EU Club’ its economy is booming with many leading international firms establishing regional headquarters in Istanbul, where capital growth has even outstripped the coast

8 Easy access, with budget flights available on many routes

9 Straightforward buying process

10 And of course, a fabulous climate

Investors with a nose attuned to the heady aroma of good capital growth have followed the scent to the Larnaca area, currently subject to massive improvements in its infrastructure. You need a bit of imagination at this moment in time, but the somewhat utilitarian nature of the area is set to change beyond recognition with the opening of marinas and golf courses, which will make that part of the island a much more desirable place to live. Hence the investors moving in.

This is another example that you don’t have to be in some far flung part of the world or in the former Soviet outposts of Europe to secure a decent return on your money. Perhaps you won’t see the spectacular gains to be had in the emerging  markets but neither do you run the same risks.

Cyprus has a lot going for it, not least the fact that they drive on the same side of the road.  This is a huge plus for the more spatially challenged who loathe driving abroad or in some cases can’t manage it at all.  Fine for the duration of the fortnight summer break, but not very practical if you want to relocate permanently.

The locals are mostly very friendly to expats and usually speak good English, due to those strong links with the UK.  Crime levels are low compared to the UK, which is another huge advantage bearing in mind Brits are now, seemingly, expected to get used to  high levels of what is described as ‘minor’ crime, which scores pretty  high on a personal level if you become victim to it.

So Cyprus is a safe bet.  Great scenery, beaches, ancient artefacts and places of historical interest, all bathed in a typical Med climate and a real sense of being at home.  Combine this with the knowledge the island is on an upward economic trend and it has to be one of the best places to invest in property.

1. 80% mortgages are available and the euro currently offers the best value for money.  Once the reservation contract has been signed on your new property the lawyer will take approximately two to four weeks to carry out checks before you sign the main contract.  It isn’t necessary to appoint two lawyers, one here and one in Italy, otherwise you double the legal bill and the Italian lawyer is quite capable of looking after your interests!
2. Once you pay your non-refundable deposit, the price is fixed and you won’t be subject to price increases As a rough guide, the total costs incurred in purchase will be approximately 16% of the purchase price
3. If buying off plan agree stage payments before you sign anything. Typically, you might be required to pay 30% within four weeks.
4. Non-nationals need a permit to buy in Cyprus but to bona fide buyers, this is a routine procedure, and if you plan to live there permanently, this is equally straightforward providing you can show you are self-supporting.
5. It isn’t necessary to instruct a UK lawyer as you will have to use a local Cypriot lawyer and simply end up paying two bills. It’s tempting to think you will be better protected if you have somebody looking after your interests at home, but it really isn’t necessary. Your Cypriot lawyer will act on your behalf at the various stages of the buying process.
6. Non-nationals pay a flat rate of 5% income tax, one of the many inducements to life in the sunshine island. This applies also to pensions and income from overseas investments. There is currently no inheritance tax.
7. Stamp duty is levied at the time of signing the contract, at a rate of CY£1.50 per CY£1,000 up to CY£100,000 then CY£2 per £1,000.

Here’s why Cyprus remains close to our hearts and a place to buy:

1. The climate is as good as you’ll find anywhere else in Europe.
2. The cost of living is lower and this, in addition to the climate, is the reason many Brits of Cypriot origin either retire ‘home’ or have a property there.
3. Due to our historical ties, English is widely spoken and there are so many Cypriots with family in the UK and expats who have happily decamped there, it feels like home. Don’t underestimate how important that is when looking to relocate.
4. A favourable tax regime for non-nationals.
5. They drive on the same side of the road. Don’t knock it! Some people just can’t adjust so this is a significant advantage.
6. Easy access via cheap flights.
7. Crime rate is lower than in the UK.
8. Cyprus isn’t just about beaches as it’s a beautiful island, the third largest in the Med after Sicily and Sardinia, with great scenery and sites of historical interest.
9. Subject to much upgrading and improvement of its infrastructure. Joined the EU in 2004 and the euro is due to be phased in during 2008.
10. Some areas offer considerable scope for capital growth due to the improvements underway, ie the Larnaca area.

It is certainly true that the heady days of picking up a villa on a Spanish costa for less than the cost of decent garden shed have long since departed, but that has been the case in most of the established markets since the 1970s. But it depends what buyers are looking for and Spain still tops most polls as the place Brits want to relocate or retire to as, for so many of us, Spain is home from home. Capital growth has been excellent and while buyers who want to make a quick killing will probably look elsewhere, anybody who wants a solid investment in a mature market and really prefers Spain, shouldn’t be deterred. We’ve been holidaying and buying property there for so long, it has a familiarity that just doesn’t exist in many other markets. And for the all their investment appeal, how many people plan to retire or move permanently to the so-called emerging markets?

Spain is a mature market but it is also evolving as demand increases for inland properties, even amongst Spaniards. Where the countryside was once populated mainly by relatively poor farmers and agricultural workers, more affluent Spaniards have discovered the rural idyll and are looking inland for a different lifestyle. The typical Spanish experience among home owners was once a flat or house in a town or city and an apartment or villa on the coast and while this is still the case, there is an increasing desire for country living, previously unheard of among the Spanish middle class. This is made easier by the Spanish road network, which is subject to constant improvements and less volume of traffic than the UK, hence it is possible to live as much as 50 miles inland and ‘pop’ to the beach, which would be unthinkable in the UK especially on a busy holiday weekend.

So don’t write off Spain. It has something to suit most tastes, budgets and lifestyles.

1. Spain is the most tried and test formula for second homes. We’ve been holidaying and buying there successfully since the 1960s and for so many Brits, Spain is home from home.
2. It’s a stable market for buyers who don’t want the risks associated with the emerging markets
3. English is widely spoken (they are used to us!)
4. Low cost of living
5. Fantastic climate; the World Health Organisation described the Costa Blanca as the healthiest climate in the world with 320 days sunshine and average winter temperatures of 15 degrees C.
6. In many polls, Spain still ranks tops with Brits wanting to relocate abroad.
7. It offers something for all tastes and requirements.  A very varied coastline for beach lovers and inland for those who want a taste of the ‘real’ Spanish lifestyle.
8. Property in Spain remains a solid investment for long term growth.
9. Bargains are still to be had, especially inland, which is the current hotspot and likely to see the best capital growth.
10. Forget traffic jams. If you prefer to buy inland in Spain you can still be on the coast in an hour.  Imagine that on a Bank Holiday in the UK?