Portugal’s property prices have risen in the last few years, due in part to a needed re-balancing, and for its recent popularity on the global stage for – quality of life, peacefulness, and its long list of awards for wines, beaches, tourism, and more. With all of this going for it who wouldn’t want to buy property or relocate to Portugal?
Timing is everything with investments, and Portugal is still well on the radar as a prime location for property investment bright spots. Even better news, if you’re looking for really savvy investments or have a limited budget there are still a number of good options with bank repossessions being one of them. Particularly with sterling’s rise, friendly banks offering competitive interest rates, add Portugal’s tax and non-habitual residency programs – you’ve got a very attractive investment package.
What’s involved in purchasing a bank repossession in Portugal? First the biggest advantage is of course the value for price. If needing help financing, mortgages are available and the process is simplified as no evaluations are required. Property buyers can also benefit form interest rates as low as 1% for up to 90% of the purchase price. Time to make a purchase is expedited as banks already have the property valuations and documentation required for a proper sale. Purchase costs can be significantly lower due to expedited formalities since there is more clarity and transparency of ownership, resulting in a more efficient transfer of ownership. Have cash ready to invest? Banks consider this an additional advantage and will prioritise cash purchases of property.
CEO & Founder
Ideal Homes International
Phone: +351 289 513 434 or 0800 133 7644