Retirees hail 'therapeutic' med

Portugal is one of the four most favoured countries when it comes to buying a retirement home in the sun…

Many investors in property looking to the Iberian Peninsula may have concentrated on Spain, but Portugal lacks nothing in popularity for many who want to head for the sun.

That is certainly the case for those looking to retire overseas. Saga have said that those over the age of 50, Portugal is one of the four most favoured countries when it comes to buying a retirement home in the sun, still ahead of Cyprus and behind only Spain and France.

This group is a significant number of people. A Saga spokeswoman said ten per cent of its customers were looking to buy a holiday home overseas and many of these wanted to retire permanently.

Sunshine, beaches and wonderful lifestyle

She said: "Feedback from our customers shows that this is down to a number of things such as climate, cost of living and ease of access due to the range of cheap flights available."

All of these factors should be music to the ears of property investors of all kinds and of all ages, including those involved in the buy-to-let market. Portugal certainly does not miss out on any of these factors, not least in terms of its ability to provide sunshine, beaches, lifestyle and accessibility.

The country itself will be in the news a lot for many reasons in the coming months, principally because it is taking over the presidency of the EU for the next six months. Of course, most of what happens in that field will be to do with issues with little or no relation to the domestic property market.

What does matter is that, ever since it joined the European Union, or EEC as it was back in 1986, Portugal has enjoyed stability, democracy and a growing connection with the rest of Europe. Exactly the same could be said of Spain, which has enjoyed the advantage of a higher profile through its larger size and more glamorous cities.

Beautiful island scenery

However, the country really does have all the same sort of benefits as the other popular destinations. Weather-wise, it offers the choice of a Mediterranean climate in the south and a warm oceanic one in the north. There are outstanding beaches, particularly in the Algarve, with correspondingly well-developed tourism.

The cities are historic and beautiful, with Lisbon offering an attraction to those who dislike the steel and glass skylines of many modern cities. It has wine-growing regions and green uplands, while out in the Atlantic the Azores and Madeira offer beautiful island scenery.

In short, Portugal has a range of attractions which provide plenty of good reasons for its popularity, all ones that property investors may do well to take a closer look at.

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