Many lovers of excellent beach holidays primarily associate Portugal with the Algarve. Before the crisis, real estate in Portugal, and, of course, in the Algarve, was affordable only to the wealthy Englishmen. Now apartments in this resort are affordable to many of us. During the years of the crisis the housing market of this sunny country reached the bottom, but now the prices are rapidly increasing. Therefore, now is the perfect time for buying property in Portugal.
In many European countries non-residents have to collect a huge package of documents and to be up to special requirements in order to buy a house, but in Portugal it is not required. For foreign buyers of holiday houses in Portugal there are almost no restrictions. Moreover, property deals can be concluded by both legal entities registered in the country and private customers - individuals the purpose of which is to buy a holiday home.
Of course, many of those who prefer to relax each year by the sea try to make a comparison between countries that they have visited. For example, if we compare housing markets in Portugal and Cyprus, we can say that in Portugal, , the choice of holiday homes is really huge on the secondary and the primary market and it is combines with attractive prices . But on the other hand buying a new home in the sunny Cyprus is more difficult due to the fact that new construction is very limited in this country - island.
Now on the residential market in Portugal enter people from all over the world , not only because they have recently discovered the beautiful seaside resorts of this country, but also because for many of them the purchase of condos, apartments and villas on the sea or a property in the capital, is the first step to move to a permanent residence. In order to receive this bonus – a golden visa, foreigners need to invest three hundred and fifty thousand euro in real estate, built up over thirty years ago that should be reconstructed, or to buy a new, modern and even luxury real estate amounting to over five hundred thousand euro!
