It’s time to invest!
The Silver Coast region in Portugal is becoming more and more attractive, and not for nothing. This beautiful region attracts for its largely affordable prices. Life in Portugal is cheaper than in Belgium or France: “With 1,000 euros per month, you live here as you would with 2,000 euros in Paris or Brussels,” a real estate agent explains.
Interesting rates
Taxes, as well as legal fees, are levied on the purchase price of the property, and these are borne by the buyer. The same applies to the payment of the property registration and notary fees. However, in Portugal, there is no incidence of VAT on the purchase of a property. Moreover, notary fees are much lower than in Belgium, the different taxes vary between 4 and 7% of the property. The charges are lower. This coast is much cheaper than in other regions of Portugal because it is less well known and less touristic than the Algarve or Lisbon for example.
Furthermore, if you rent your property, the income received will be subject to the payment of income tax at a fixed rate of 28% on the annual yield if the income is received by a natural person or 25% if it is received from a person with organised accounting. In both cases, maintenance, handling charges and property taxes may be deducted from the income for the calculation of the tax.
Taxation is advantageous and one of the reasons for this is the absence of inheritance and gift tax for residents in Portugal. There is a special income tax exemption or reduced rate scheme for non-habitual residents.
The rates of credits are very low which pushes more and more people to invest in this region, in 2016 the percentage of real estate had already risen by more than 16% this figure is still increasing. The demand is much higher than before and is continuously increasing. So prices will eventually rise in turn, so the investment you make today will be worth more in the future. There is a significant potential for capital appreciation. So this is the perfect time to take the plunge, a unique opportunity to have a good investment, a promise of a bright future for you and your family. Moreover, there are no important financial risks such as exchange rate, inflation, interest rates because they are controlled by the European Central Bank.
More advantageous
The Silver Coast is very extensive which will offer you many choices and very varied prices both in terms of real estate and cost of living. In this region, it is not uncommon to find a complete dish with fish or meat and its accompaniments for a total of 6€ while you will find the same plate for twice the price in other regions. The cost of living is one of the lowest in the European Union, allowing foreign visitors and buyers to have a relatively easy standard of living. This is a great way to enjoy Portuguese gastronomy without hurting your wallet.
As far as real estate is concerned, the price per m2 is also much lower than in other regions. When in the Algarve the average per m2 is around 2400 euros and in Lisbon 3700m2, one can almost divide the price per m2 in the Silver Coast by two or three, with an average of just under 1300 €/m2. The procedures are easy and there is total transparency in the purchasing procedures for foreign buyers.
The coast is less than an hour away from the country’s capital, Lisbon, and is therefore easily and quickly accessible from all the major airports in Europe. Nowadays, there are already more than 10 flights a day from Brussels Airport and for less than 50 € you can fly to Lisbon and back.
Today or never
It’s a good time to settle down or travel to the Silver Coast. Its location is reminiscent of the Algarve 15 years ago, before it attracted a host of investments from leading developers and hoteliers such as Hilton, Campo Real and Marriot. Buying your building now is the promise of seeing its value grow in the years to come.
The Silver Coast is already a paradise that attracts celebrities and with its lot of luxury villas, golf courses and 5 times award winning beaches, the Silver Coast is already a paradise that attracts celebrities and with its lot of luxury villas, golf courses and 5 times award winning beaches. Many projects are underway to make the region even more touristy than it is, including a Jurassic Park amusement park.
On the other hand, investors wishing to buy a second home should take into account the fact that the Côte d’Argent is one of the most important areas of the moment in terms of second home markets. It is a region that will increasingly become a luxury location for quality tourism. The time has come to invest in the Costa de Prata, where the value of real estate is increasing every year. According to ‘a place in the sun’, the region has the potential to achieve an increase in property value of up to 360% over the next ten years. The English channel Channel 4 has proclaimed the Silver Coast (Costa de Prata) as a thriving business. The region was voted the 3rd best location for investors in the whole of Europe. Furthermore, it is an area that has not yet been discovered by the masses and therefore still offers relatively low prices. A luxury villa with private pool is available here for around 200,000 euros. The cost price of an apartment in one of the seaside towns is 120,000 euros, depending on size.
The Silver Coast, also known as the Costa de Prata, is considered to be one of the most interesting development areas at the moment. In the past, Channel 4 had declared this region as one of the best areas in which to invest.
So why not give it a try?
