‘Flood of Brits’ moving to Portugal
The Portuguese Chamber of Commerce in the UK has revealed statistics which show a surge of UK citizens moving to inland Portugal ahead its upcoming Moving to Portugal show and seminars on 21 October.
The London show, which will take place at the Pestana Chelsea Bridge will be the first in-person property event that the chamber has held for two years.
Since the last in-person event, the number of Britons moving to Portugal has surged, with the country’s Immigration and Borders Service (SEF) revealing a 34.6% jump between 2019 and 2020. The increase takes the total number of Brits who are officially resident in Portugal to 46,238, meaning the British are now the second largest group of foreign residents in Portugal, after the Brazilians.
Ahead of its 21 October event, the Portuguese Chamber of Commerce in the UK has highlighted the locations that are attracting the most interest from British buyers and residents.
“The Algarve’s gorgeous, sunny beaches continue to make it the most moved-to area of Portugal for British expats, with Lisbon also attracting keen interest, as is usually the case. What is surprising is the sizeable increase in British buyers and movers seeking rural, inland properties in Portugal.
Such areas can offer exceptional value for money by UK standards, along with breathtaking views and the chance to experience life in Portugal unspoiled — indeed, almost entirely untouched – by mass tourism”, said Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK.
According to the SEF’s figures, the most popular inland area in 2020 in terms of an increase in British residents was the Castelo Branco district, in central Portugal, which shares a land border with Caceres in Spain. Castelo Branco district is now home to 1,252 Brits. Far from the tourist crowds, the region is peaceful and charming, with traditional architecture and a reputation for its olive oil, wine and cheese.
The island of Madeira is also attracting keen interest, with 1,342 Britons living there in 2020. That number is expected to increase from 2022, since, despite its popularity as a tourist destination, property there will still qualify for inclusion in Portugal’s Golden Visa scheme. With a stunning natural landscape, excellent cuisine and a traditional way of life, Madeira has a huge amount to offer. The capital, Funchal, is also delivering great yields for investors.