Portugal is proving to be a tempting country to invest in for many of France’s baby boomer generation now approaching retirement. It is estimated that one million of them will be looking to purchase a property in another country.
With the Portugese cost of living said to be 40% cheaper than in France and a number of big tax advantages available for those with Non-Habitual Residence status, it is easy to see why demand from French investors for properties and holiday home in Portugal is so strong.
Bart van Linden, of Exclusive Algarve Villas, says: “At the moment in the Algarve, the French make up 60% of the sales. We deal in plus-€500,000 properties and most French we have buy in the €600,000 to €800,000 range.”
According to figures released by the Franco-Portuguese Chamber of Commerce and Industry, around 1 in 10 pensioners intend to live in another country with Portugal being one of the more popular destinations. Last year, 7,000 French pensioners decided to settle there.