Many Britons Of Retiring Age Choose To Live In The Algarve

Many Britons who reach retiring age decide to spend the rest of their lives overseas in the sun, and for many that means Portugal. There are around 60,000 Britons living in Portugal, not all of them retirees. Those who go there to work very often go to Lisbon, which is a somewhat more expensive place to live than other parts of the country, but a lot of people who don’t need to work choose the Algarve. While property prices have risen there in the last five years, it is still possible to buy a home there for less than €200,000 (£170,000). So if you have just sold your home in the UK for £400,000 it leaves you with a nice little nest egg. 

 

Furthermore, the cost of living in Portugal is quite a bit less than it is in the UK. It is worthwhile opening a Portuguese bank account because you can use that to pay your bills and expenses, and still keep your UK account which will save the cost of bank transfer fees and problems with the fluctuating exchange rates with the euro. 

 

Portugal has a Golden Visa programme which offers multiple options for obtaining an investor’s visa, one of which is investing in real estate to the tune of €280,000 or more. This allows you to apply for Portuguese citizenship after 5 years of residency. You can also include family members. If you don’t want to invest or reach the minimum requirement, you can also qualify by showing that you have enough income to support yourself. Oddly enough, the amount is not stipulated by law, but your immigration officer has the power to decide, and an income of €1,200 a month is usually sufficient. 

 

The emphasis on food in Portugal is on fresh fish. Cod, shrimp, and tuna are on almost every restaurant menu. However, fast food takeaways are not common. All the produce is fresh and organic, and in most instances it is local. 

 

Of course, if you are going to move to the Algarve, you will need our Algarve removals to Portugal service. At Movers International we have moved a lot of people to the Algarve over the last 30 years, and we also run a regular service there every two weeks or so. Our expert packers will undertake all the packing for you and ensure that everything arrives in the same condition it left the UK.