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Retirement: Algarve the perfect choice

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Retirement: Algarve the perfect choice

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Written by  Staff Writer
Saturday, 05 August 2017 15:55

The vistas from The Algarve's beaches are nothing short of spectacular.The vast majority of foreign retirees moving to Portugal settle in the Algarve. Particularly appealing are the municipalities of Silves, Tavira, Lagoa, Lagos and Aljezur in Portugal’s southernmost province.

In these regions, you can enjoy the best the region has to offer, from medieval towns and fishing villages to open-air markets, local wine and some of Europe’s best sandy beaches.

Southern Portugal enjoys one of the most stable climates in the world, with 3,000 hours of sunshine per year. There are more sunny days each year in the Algarve than anywhere else in Europe.

It is one of the top destinations on the continent for Europeans seeking summer sun or looking to escape the cold, dark days of winter up north.

Language

Thanks to Portugal’s strong historic and cultural links with England, English is widely spoken in the country in general and even more so in the Algarve. Retirees here are able to get by without speaking much Portuguese, but the experience is obviously better if they make an effort to learn to communicate with the locals.

Health care

The standards of health care are excellent in most parts of the country. The Portuguese healthcare system is ranked among the world’s top 20 in overall performance by the World Health Organization. Residents of Portugal who are citizens of EU countries are covered on the same terms as Portuguese citizens, although application is required. Non-EU residents are required to have medical insurance.

Cost of living

The cost of living in Portugal is among the lowest in Western Europe, on average 30 percent lower than in any other country of the region. A retired couple could live here comfortably but modestly on a budget od as little as €1,000 per month. With a budget of €2,000 per month or more, you could enjoy a fully appointed lifestyle in the heart of the Old World.

Real estate

Real estate in Portugal is undervalued and among the most affordable in Europe. Further, Portuguese real estate has one of the most favorable price-to-rent ratios (a measure of the profitability of owning a house) and price-to-income ratios (a measure of affordability) in the region. What that means is that housing is cheaper to buy and investors can make more money from rentals than in many other European countries.

 

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