THE KEY FACTS ABOUT PORTUGAL
At Life Style we strongly encourage you to know the full facts about the country that you are interested in, therefore please read this useful factsheet and the dynamics of Portugal.
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Rentability |
Simply brilliant rental market 52 week destination |
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Capital Appreciation |
2-5 year plan to maximise appreciation |
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Long term rating |
Excellent, airport links and accessible from most international airports |
| Portugal Map, National Flag and Typical Properties. | |||
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| Useful Information: | |
| Time Difference: 0 GMT | Currency: Euro |
| Flying Time: 2 Hours | Visa Required: None |
| Major Airports: Lisbon, Porto, Faro | Work Visa Required: No |
| Dialing Code: 00 351 | Electricity: 220V/50Hz |
Portugal's History
Following its heyday as a world power during the 15th and 16th centuries, Portugal lost much of its wealth and status with the destruction of Lisbon in a 1755 earthquake, occupation during the Napoleonic Wars, and the independence in 1822 of Brazil as a colony. A 1910 revolution deposed the monarchy; for most of the next six decades, repressive governments ran the country. In 1974, a left-wing military coup installed broad democratic reforms. The following year, Portugal granted independence to all of its African colonies. Portugal is a founding member of NATO and entered the EC (now the EU) in 1986.
Portugal Facts
Location: Southwestern Europe, bordering the North Atlantic Ocean, west of Spain
Capital city: Lisbon
Land Area: total: 1,214 km border countries: Spain 1,214 km
Coastline: 1,793 km
Climate: maritime temperate; cool and rainy in north, warmer and drier in south
Terrain: mountainous north of the Tagus River, rolling plains in south
Environmental Issues to consider: soil erosion; air pollution caused by industrial and vehicle emissions; water pollution, especially in coastal areas
Population: 10,642,836 (July 2007 est.)
0-14 years: 16.5% (male 914,480/female 837,525) 15-64 years: 66.3% (male 3,501,206/female 3,551,706) 65 years and over: 17.3% (male 757,220/female 1,080,699) (2007 est.)
Government Type: parliamentary democracy
Legal System: civil law system; the Constitutional Tribunal reviews the constitutionality of legislation; accepts compulsory ICJ jurisdiction, with reservations
GDP: $210.1 billion (2006 est.) GDP Growth Rate 1.3% (2006 est.) GDP - per capita $19,800 (2006 est.) Inflation Rate: 2.5% (2006 est.)
Economy - Overview
Portugal has become a diversified and increasingly service-based economy since joining the European Community in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the European Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU member economies. Economic growth had been above the EU average for much of the 1990s, but fell back in 2001-06. GDP per capita stands at roughly two-thirds of the EU-25 average. A poor educational system, in particular, has been an obstacle to greater productivity and growth. Portugal has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment. The budget deficit surged to an all-time high of 6% of GDP in 2005 but was reduced to 4.6% in 2006. The government faces tough choices in its attempts to boost Portugal's economic competitiveness while keeping the budget deficit within the eurozone's 3%-of-GDP ceiling.
For Portugal the following facts apply:-
Why Buy In Portugal?
Portugal, the third favourite second-home destination for Brits after Spain and France, can thank the game of golf for much of its continued growth in the property market. The game has had a similar effect in the southern region of the Algarve as it has had in Spain’s Costa del Sol. The prestigious ‘golden triangle’ of the three top-notch Quinta do Lobo, Vale do Lobo and Vila Sol golf resorts have put the Algarve on the international golfers’ radar and given rise to a growing number of £1-million-plus villas – and a strong rental market. Apartments in the central Algarve now start at approximately £70,000 – but can be much higher – while in the eastern part, around up-and-coming Tavira, studios are selling for around £50,000. Vilamoura and Albufeira are well-established holiday resorts with fantastic beaches and a variety of property options. Away from the Algarve, the Silver Coast in central Portugal is becoming a new property hotspot. Located between Lisbon and Porto and sometimes called the Lisbon Coast, it is less developed for tourists than the Algarve but offers fantastic beaches and unspoilt towns. Now that the A8 motorway links Porto with Lisbon, this region, with property that caters for all types of buyer, is set to open up. For an apartment on a high-end leisure and golf development there is the flagship Praia D’El Rey resort or the newer CampoReal. Historic old towns such as Obidos, Leiria and Coimbro and their environs harbour bargain renovation properties, many for well under £30,000, or villas for between £50,000 and £100,000. Back on the coast are the tranquil resorts of Nazare and Figueira da Foz, and gorgeous Sao Martinho do Porto beach.The stretch of coast that runs north from Porto to the Spanish border is known as the Green Coast. Considerably cheaper and less-developed than south and central Portugal, with seafront apartments starting at around £30,000, take note that the weather is wetter here.
