Buying a Home in Portugal
David Hamphire
Buying a Home in Portugal is required reading for anyone planning to buy property in Portugal. It contains an abundance of priceless information and insider tips to guide you through the Portuguese property jungle, and save you time, trouble and money. Regardless of whether you’re buying a family, holiday or retirement home, or a property purely as an investment, this guide will help ensure a smooth, problem-free transaction. Whether you want a townhouse on the Algarve, an apartment in Lisbon or a farmhouse in rural Alentejo, Buying a Home in Portugal will help make your dreams come true. Don’t leave home without it!
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Extracts from the book…
Why Portugal?
If you want guaranteed year-round sunshine, a wealth of beautiful, white sandy beaches, excellent food (particularly seafood), a wide selection of entertainment, and an abundant choice of quality homes at affordable prices, then Portugal may be just what you’re looking for. Although the vast majority of holidaymakers (and residents) come to Portugal to soak up the sun, there’s much more to the country than beaches and swimming pools. Portugal has something for everyone, including magnificent beaches for sun-worshippers; spectacular unspoilt countryside for greens; a surfeit of mountains and waters for sports fans; a lively night-life for the jet set; elegant and sophisticated, manageable cities for ‘townies’; good wine and cuisine for gourmets; a wealth of outstanding historic buildings and monuments, museums and galleries for art lovers; numerous festivals and fiestas for inveterate party-goers; and tranquillity for the stressed.
When buying a home in Portugal you aren’t simply buying a home, but a lifestyle, and as a location for a holiday, retirement or permanent home, it has few equals.
There are many excellent reasons for buying a home in Portugal, although it’s important not to be under any illusions regarding what you can expect from a home there. The first and most important question you need to ask yourself is exactly why you want to buy a home in Portugal. For example, are you seeking a holiday or a retirement home? If you’re seeking a second home, will it be mainly used for long weekends or for lengthier stays? Do you plan to let it to offset the mortgage and running costs? If so, how important is the property income? Are you primarily looking for a sound investment or do you plan to work or start a business in Portugal?
Often buyers have a variety of reasons for buying a home abroad; for example, many people buy a holiday home with a view to living there permanently or semi-permanently when they retire. If this is the case, there are many more factors to take into account than if you’re ‘simply’ buying a holiday home which you will occupy for just a few weeks a year (when it may be wiser not to buy at all!). If, on the other hand, you plan to work or start a business in Portugal, you will be faced with a whole different set of criteria.
Can you really afford to buy a home in Portugal? What of the future? Is your income secure and protected against inflation and currency fluctuations? In the late ’80s many foreigners purchased holiday homes in Portugal by taking out second mortgages on their family homes abroad, and stretching their financial resources to the limits. Not surprisingly, when the recession struck in the early ’90s many people had their homes repossessed, or were forced to sell at a huge loss when they were unable to maintain the payments. Buying a home abroad can be a good long-term investment, although in recent years many people have had their fingers burnt in the volatile property market in many countries, including Portugal.
Health
One of the most important aspects of living in Portugal (or anywhere else for that matter) is maintaining good health. The quality of health care and health care facilities in Portugal are generally good (although variable) and have improved considerably in recent years, although they aren’t up to the high standard taken for granted in North America and northern Europe. There are many English-speaking and foreign doctors in resort areas and major cities, although hospital facilities are limited in some rural areas.
Nursing care and post-hospital assistance are below what most northern Europeans and North Americans take for granted, and spending on preventive medicine is quite low. Portugal spends a relatively high percentage of its GDP on health (around 10 per cent), higher than many other EU countries (e.g. 8 per cent in the UK). Public and private medicine operate alongside each other in Portugal and complement one another, although public health facilities are limited in some areas.
Portugal has a public health system, providing free or low cost health care for those who contribute to Portuguese social security (segurança social), plus their families and retirees (including those from other EU countries). For further information about the public health system, see Health Insurance on page ?? chapter 8. If you don’t qualify for health care under the public health system, it’s essential to have private health insurance (in fact, you won’t usually get a residence card without it). This is often recommended in any case if you can afford it, due to the inadequacy of public health services (which like most, are strapped for cash) and long waiting lists for specialist appointments and non-urgent operations in many areas. Visitors to Portugal should have holiday health insurance if they aren’t covered by a reciprocal arrangement.
There are state health centres (centros de saúde) in most areas (typically open from 8am to 8pm) which treat minor health problems and where it’s easier to get prompt emergency treatment than at a public hospital. There are 24-hour emergency hospitals in major towns, and private hospitals and clinics in major towns and resort areas (including The British Hospital in Lisbon).
English-speaking Portuguese doctors and English and other foreign doctors practise in resort areas and major cities, many of who advertise in the local expatriate press. You can obtain free advice for minor ailments from pharmacies (farmácias), open from 9am to 1pm and 3 to 7pm Monday to Friday and from 9am to 1pm on Saturdays. There’s normally a duty pharmacy (farmácia de serviço) open outside usual business hours. A list of duty pharmacies is posted in pharmacy windows and announced in the local press (you can also telephone 118 and ask for the name of your local duty pharmacy).
The Portuguese aren’t particularly healthy and have one of the lowest life expectancies in the EU – 73 for men and 80 for women.
The country has a high incidence of smoking-related health problems – the percentage of smokers is among the highest in the EU. On the other hand, the incidence of heart disease in Portugal is among the lowest in the world, a fact officially contributed in large part to their diet (which includes plenty of garlic, olive oil and red wine), as is the incidence of cancers.
Among expatriates, common health problems include sunburn and sunstroke, stomach and bowel problems (due to the change of diet and more often, water, but they can also be caused by poor hygiene), and various problems caused by excess alcohol (including a high incidence of alcoholism). Other health problems are caused by the high level of airborne pollen in spring in some areas (which particularly affects asthma and hay fever sufferers), and noise and traffic pollution, particularly in Portugal’s major cities. If you aren’t used to Portugal’s hot sun, you should limit your exposure and avoid it altogether during the hottest part of the day, wear protective clothing (including a hat) and use a sun block. Too much sun and too little protection will dry your skin and cause premature ageing, to say nothing of the risks of skin cancer. Care should also be taken to replace the natural oils lost from too many hours in the sun, and the elderly should take particular care not to exert themselves during hot weather.
Portugal’s mild climate is therapeutic, particularly for sufferers of rheumatism and arthritis, and those who are prone to bronchitis, colds and pneumonia.
Portugal’s slower pace of life is also beneficial for those who are prone to stress (it’s difficult to remain up-tight while napping in the sun), although it takes some foreigners a while to adjust. The climate and lifestyle in any country has a noticeable affect on mental health, and people who live in hot climes are generally happier and more relaxed than those who live in cold, wet climates (such as northern Europe). When you’ve had a surfeit of Portugal’s good life, a variety of health cures are available at spas and health ‘farms’.
Health (and health insurance) is an important issue for anyone retiring to Portugal. Many people are ill-prepared for old age and the possibility of health problems. There’s a lack of welfare and home-nursing services for the elderly, either state or private, and foreigners who are no longer able to care for themselves are often forced to return to their home countries. There are few state residential nursing homes in Portugal or hospices for the terminally ill, although there are a number of private, purpose-built, retirement developments. Portugal’s provision for handicapped travellers is also poor, and wheelchair access to buildings and public transport is well below the average in western Europe.
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PRICE: £13.95
PUBLICATION: March 2008
EDITION: 3rd
PAGES: 288
BINDING: paperback
SIZE: 210x148mm
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