A Second Home Mecca

Anyone who has visited Portugal will be aware of its plethora of charms. Its many attributes include an enviable climate, a stunning coastline, a long and distinguished history, diverse culture, delicious food,  good wine, a multitude of golf courses and renowned hospitality. All of which provide a magnet for tourists. 

More recently, a global trend in improving lifestyle, along with some enticing tax breaks, has led more and more international investors looking to buy into one of the safest countries in the world and a resulting surge in second home sales.

Portugal has become a rising star on the international property walk of fame, culminating in the distinguished accolade of ‘the best country to buy a second home’ by Compare the Market in Australia.
Portugal Top of the Property Charts

It is well known that there is some healthy rivalry between neighbours Spain and Portugal, so the Portuguese were undoubtedly jubilant that the Iberian hotspot scored 7.27 points out of 10. In contrast, its neighbour Spain ranked at only 15. The survey compared the cost of living, property prices, rental prices and the global ranking, with the Ozzy survey applauding Portugal on its many attributes, which bring tourists and second-home buyers flooding to its shores.

The study awarded Portugal the top prize after evaluating 34 countries that fell within the category of OECD (Organization for Economic Cooperation and Development).

In joint second place were, with equal scores, Hungary and Turkey (7.06), two countries that can´t match Portugal in the security league. Portugal ranked third out of 163 countries on the Global Peace Index, considering factors like crime rate, terrorist acts, violent demonstrations, political scene, and relations with other countries.

In third place was the Czech Republic (6.97), a worthy contender but unable to compete with Portugal´s sun or 660 beaches, 431 of which have the accolade of a blue flag. 

Portugal received recognition in the survey for its proportion of restaurants, with 349 per 100,000. This statistic was noted as “surprising for a small country”. However, the abundance of restaurants is not a surprise to those of us who have enjoyed sampling its delicious seafood, mouth-watering meat stews, or sumptuous desserts washed down with a glass of Portuguese wine and culminating in a glass of oaky flavoured port wine. More importantly, the cost of beer compared favourably with its competition, which is a good thing. We all know there is nothing like an ice-cold bottle of Sagres beer drunk on a hot day in a café overlooking a beautiful Portuguese beach.

Living the Dream at Boavista

Boavista was a front-runner in promoting the healthy, active lifestyle that second-home buyers are looking for. Established in 2002 around an eighteen-hole golf course while offering stunning vistas to the Atlantic from most fairways, the resort was soon put on the map as a second home hotspot.

Glenn Harrold bought a second home on Boavista before moving permanently to Portugal. “We bought on Boavista as we loved the resort and location. It is very family orientated with a kids playground, two health clubs, a football pitch and tennis courts. We loved walking around the whole resort as a family and the views from the higher ground are amazing! The security there is also excellent, not that you need it too much in this part of the world. Overall, it is a great place to live and we really enjoyed our time there.” 

There is also a strong community vibe on Boavista, with regular social events organised by the hospitality team in the clubhouse, regular golf competitions and activities such as yoga or aqua aerobics and kids clubs. The resort is home to a varied multi-national community that all come together to enjoy Boavista´s unique lifestyle opportunities.

A Safe Investment

In order to encourage foreign investment, the Portuguese Government has not tightened rules on foreign ownership or increased property taxes. Instead, the absence of inheritance tax and two key tax initiatives have been critical in attracting new investment. It also has well-defined property laws protecting buyers and evading some of the second-home horror stories of other European countries.

The rise in property prices goes hand in hand with the booming tourist sector, with many investors buying to rent out in the summer months when there are high returns. Many expats buying on resorts look to pay all their running costs from summer rentals and then utilise the property themselves in the winter. For the year 2022, the revenue from the tourist accommodation sector grew by 114.7%.

The modern trend for remote working has precipitated the ability to spend longer periods in a second home abroad and the digital nomad is the new buzzword in Portugal. Facebook groups, trendy coffee shops with high-speed wifi and coworking spaces are the new norm. 

Here Comes the Sun

A tantalising 300 days of sun provide the perfect anecdote to the cold winters of northern Europe. In the post-COVID trend for a higher standard of living with increased leisure time, the climate allows for more outdoor activities. The Algarve has one of the best climates in Europe and no longer only attracts tourists for beach holidays. The comparatively warm winter months allow visitors and residents to enjoy one of the many activities that have become popular over the last few years. 

Portugal is, of course, famous for its golf courses, with 75 golf courses in Portugal, with the southern region of the Algarve being home to 31, one of which is Boavista´s 18-hole course designed by Howard Swan.  Over the years, the region has attracted golf package holidays as enthusiasts visited to enjoy a round in a good climate with great hospitality. 

In recent years, many other pursuits have joined golf as an attraction. Numerous padel tennis clubs have opened their doors to precipitate the new craze in this addictive racket sport. The Rota Vicentina is a network of 450 km of footpaths and cycling trails extending from Sines to Lagos. 
Margarida Rodrigues, sales manager at Boavista, comments, "Buyers in Portugal are no longer looking for a place in the sun to get a tan! They want the health benefits of a more outdoor and active lifestyle." Second-home buyers on Boavista also benefit from the resort´s Essential Fitness & Spa, which offers a range of beauty and health therapies along with a gym, sauna, steam room and indoor pool.

Second Homes on Boavista

The latest phase of new homes on Boavista has been specially crafted to meet the needs of their clients and especially digital nomads. Bayview village has been built to a high specification, with modern and spacious interiors and exclusive access to the pool and leisure facilities. 
Based on years of feedback from residents, the Bayview properties offer the chance to be free of any worry about internet connections, TV channels, condominium fees, security and maintenance. Everything is included in one payment, including insurance, renewals, garden maintenance and a sinking fund.

Infrastructure has been put in place to satisfy the requirements of the new demographic of buyers, with a dedicated fibre optic network delivering landline and internet services. This technology means residents avoid access problems and receive a consistent level of service with no consumption limit. You will also have access to a landline and high-definition TV channels in different languages.

The on-site security patrol is a reassuring presence providing a safe and secure environment. Each property is fitted with an alarm to enhance security within the home and help protect family, valuables and the building. On top of this, all the administration is carried out, where possible, by the multi-lingual staff at Careways. 

With nothing else to worry about, second-home buyers can sit back and enjoy the view.

If you want to find out more about Boavistas stylish range of new build properties, search here.