Why buy Property in Portugal?

Port wine, sardines, tea-towels, the ubiquitous cockerel symbol, sandy beaches, golf, football and the spectacularly expensive legs of Luis Figo: all these are typical Portuguese images and icons - and of course there's more, much more. Mention Portugal in conversation and many people instantly conjure up warming memories of sunfilled days in languid enjoyment of the increasingly popular holiday destination - the Algarve. In 1999, 27 million people visited Portugal, almost 12 million of these as holiday tourists, outnumbering native inhabitants of the country! The vast majority of visitors come from the UK (now accounting for almost 2 million annually), Germany and Spain , and a steady influx from the USA (around 3% of visitors), Canada and Brazil .

They are all drawn to the sun, the relaxed way of life, cheaper prices (although these are changing since the introduction of the euro), beaches, the landscapes of the north, and the good, cheap wine and food.

In addition to this constant transient swelling of numbers each year, thousands have gone on and bought property in Portugal, mostly as holiday, or second homes, but some also as a permanent move, either for retirement, or a new way of life. It is estimated that in 2001 the number of British people who bought property in Portugal rose by 25%. Whilst Spain continues to tempt the greatest number of British ex-patriots, Portugal enjoys growing popularity, especially amongst young families, and the retired, and an estimated 50,000 people now enjoy residence there.

A huge 48% of all tourists to Portugal stay in the Algarve, and indeed many go on to make their homes there, with about 20% of Algarve residents now British. With average sunshine rates of 8.6 hours a day, and a much better all-round climate, it's no wonder the southern coastline is a PR person's dream commodity. For those who have ventured beyond the foreign, ex-patriot enclaves of the Algarve (even by a mere 5 km or so), Portugal has also offered much more than sun, beaches and golf: a varied landscape, a fascinating history, good food, family values, a calm lifestyle, and above all, the warmth of its welcoming people - a true hand of friendship and a feeling of belonging.

Portugal has undergone many changes, structurally, economically and in terms of its popularity for business and pleasure alike. Always a favourite choice of holidaymakers, it now attracts more than two million British visitors annually. Many of these enjoy its beautiful Algarve beaches and warm hospitality, some stay and forge a living for themselves and their families. Others are transferred to work in the larger towns on behalf of a growing number of multinational companies taking root in Portugal and benefiting form a clement economic climate.

Portugal has now enjoyed membership of the EU for almost 20 years, and is currently reaping the rewards of various financial subsidies that have led to large investment by companies such as VW, demonstrating the growing confidence in this country. Major communications companies such as Vodaphone, the mobile phone company, have grown phenomenally over the past five years. The Portuguese people have forged ahead with training in such areas as computing, business and engineering, and are able to compete favourably with other nationalities - they are also multilingual, most of the younger people today being happy to communicate in French, English, German or Spanish as well as their mother tongue.

In 1998 the last great Exposition of the last millennium (Expo 98) was held in Lisbon. A huge site on the side of the river Tagus, hitherto an abandoned oil refinery, was transformed into an awe-inspiring exhibition and entertainment area, and played host to more people than actually live in Portugal itself! As a direct result of all the structural work undertaken leading up to the Expo, Lisbon now boasts an extended (and extending) underground system, a new bridge over the river (the Ponte Vasco da Gama), and Europe's second largest oceanarium - a legacy of the Expo site. Elsewhere in the country new motorway infrastructure is easing communication between north and south, and high-speed modern trains now link Lisbon with Oporto, the south and Spain.

At the same time Portugal maintains its links with agriculture, and the land is an important factor in many people's lives. And that remains part of the appeal Portugal will continue to have for the many people who visit it: the slower pace of life and the friendliness of people in rural areas are things we all long for as our own lives become increasing rushed and complex.

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