Why do so many foreigners take a one-way ticket to Portugal? 4 seductive assets of this small country with great riches.

February 26, 2018

Eric Cantona, Madonna, Monica Bellucci, Christian Louboutin, Florent Pagny, Philippe Starck, someone you know, me, maybe you… have all decided to move to Portugal in recent years. Numerous companies are setting up shop here, and some have even recently chosen Portugal as their European headquarters, following in the footsteps of behemoths Amazon and Google.

6 years ago, when I arrived in Portugal and told my friends and family that I lived there, they said: “Oh yes! Portugal, the land of Cristiano Ronaldo and Porto ” Clichés? Yes, but back then, that was more or less all foreigners knew about this small Iberian country. And yet, in the space of just 3 years, Portugal has become one of the world’s most popular tourist destinations.

Today, I’d like to share with you some of Portugal’s key assets, which partly explain why these foreigners have left their comfort zone and decided to move to Portugal.

I also invite you to read Philippe Starck’s recent declaration of love for Portugal in Lisboète Magazine.

Some of the celebrities who have moved to Portugal. From left to right: Monica Bellucci, Eric Cantona, Florent Pagny, Madonna, Christian Louboutin.

asset 1: An attractive real estate market

Even if prices have risen over the past 3 years due to ever-increasing demand for real estate, Portugal’s real estate prices are lower than those of its neighbors, and this is one of its undeniable assets!

in central Lisbon, the average price per m² is around €3,600, and 30 minutes from the capital, close to the beaches, you can find new villas with swimming pools for less than €400,000. Want to find out more? Find out here!

Here, the city of Lisbon, where real estate purchases have been the highest in Portugal in recent years.

2nd advantage: an advantageous tax environment

Portugal offers an advantageous tax environment. In fact, the country has put in place a number of tax breaks for retirees, young people wanting to launch their start-up, real estate investors, etc. Without going into detail, here is a non-exhaustive list of these advantages:

Tax exemption for 10 years for European retirees moving to Portugal. Retirement in the sun and tax benefits – pretty cool, don’t you think?
Only 20% tax on income earned in Portugal for ten years for people with “value-added” jobs (architects, engineers, doctors, entrepreneurs, designers, artists, etc.)
The golden visa for non-Schengen nationals, which gives residency authorization, a residence permit and free transit in the Schengen area for any real estate investment in Portugal of over 500,000 euros.

3rd advantage: Unbeatable cost of living

The cost of living is another of Portugal’s most seductive assets. The cost of living is between 20% and 40% lower than that of its European counterparts. To give you a concrete idea, I’ve selected 4 products and compared their average prices in several countries.

The results are clear! In concrete terms, in Portugal, ladies, you can shop more at Zara and gentlemen, you can drink more coffee on the terrace, with the added bonus of almost guaranteed sunshine.

If you’d like to find out more about the cost of living in Portugal, read my blog post on the subject.

asset 4: A quality of life to make other countries envious

Quality of life is, in my opinion, Portugal’s #1 seductive asset and THE main reason why so many people decide to move to Portugal every year. In France, we use the expression “douceur de vivre”, and when I arrived here, this expression took on its full meaning.

The Lusitanian “douceur de vivre” means 300 days of sunshine! Yes, you read that right… 300 days a year! Forget your spoonful of cod liver oil for your vitamin D deficiencies, because the Portuguese sun gives you plenty of it. The Beattles used to say: “Here comes the sun, and I say It’s all right! Well, it’s scientifically proven! It’s scientifically proven! The sun stimulates the production of serotonin, the happiness hormone, which relaxes us and gives us energy(as the singer Christophe Maé says: “il est où le bonheur?…” well, I think it’s here, in Portugal!) Not to mention that it’s always nice to be able to taunt family and friends with photos of blue skies all year round, isn’t it?

One of the many Portuguese sunsets setting the sand ablaze.

Portugal is also a perfect blend of modernity and tradition. Portugal offers a wide choice of concept stores, trendy restaurants, supermarkets, trendy bars and modern villas, but Portuguese culture is also deeply rooted. The whistle of the panpipes in the street announcing the arrival of the knifesharpener, the shoeshine boys in the street, the grannies in front of their doors exchanging the latest gossip, the laundry hung in the windows of typical houses with their thousand colors, the azulejos… In fact, if you’re just passing through Portugal, you’ll be able to bring back a whole host of typical souvenirs. Find a few ideas to pack in your suitcase here.

Traditional Portuguese house with its colorful facade, electric cables and hanging laundry.

And of course, the little-known Portuguese gastronomy… one of the best I’ve tried anywhere in the world! Lovingly prepared, generous dishes, charcoal-grilled fish and meat for that special taste, and top-quality wines. To find out more about Portuguese cuisine, take a look at my article dedicated to Portuguese gastronomy.

Posta de novilho com batatas a murro (veal with lightly mashed potatoes) … Delicious!

Last but not least, you won’t be bored in Portugal! There’s something for everyone: trekking with magnificent views(my last one in the Serra d’Arrabida took my breath away), world-famous surf spots(a 35-meter wave surfed at Nazaré a few weeks ago), sailing(let’s not forget that Portugal is a nation of great navigators), golf(from north to south, Portugal offers numerous golf courses with modern facilities), skiing in the Serra da Estrela(yes! yes! you can ski in Portugal!) … And to discover all this, no problem, Portugal offers freeways, trains, buses and also three airports with domestic and international flights.

Find out more about what you’ll love about Portugal in my article Top 25 places and activities in Portugal.

Photo taken during a walk in the Serra da Arrabida, 50 km south of Lisbon.

In conclusion

Living by the ocean, in the sun, benefiting from moderate real estate prices and a tax system favorable to new residents – these are just some of the advantages that explain why so many foreigners have decided to live in Portugal.

And you, what makes you want (or has made you want) to move toPortugal?

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