According to the article published in ThePortugalNews.com, “French investment in Portugal real estate was responsible for 16 percent of the 23,000 properties sold to foreigners in 2014.”
For example, a growing number of France’s 15 million pensionists are starting to see Portugal as a “fiscal paradise” and are beginning to test the waters for investing in this country to escape the “great instability” currently experienced in their homeland with regards to pensions.
A spokesperson for local investment said: “Portugal is seen as a fiscal paradise for the French. France is, at this moment, going through a phase of great instability and the pensioners, of which there are around 15 million, are right now thinking about investing in our country.”
One of the major advantages, it was explained, is the non-residential tax break introduced on 1 January 2013 from which private individuals including pensioners can benefit in Portugal, coupled with the fact that the average pension in France “is around €1,500 per month, which means the French can live much better in Portugal than in France. Meanwhile a new study has found that Portugal is at the top of the wish-list of French citizens looking to grow old overseas.
The weather and increased purchasing power were the two main advantages indicated by the respondents, along with a cheaper cost of living and relative proximity to their homeland.
Portugal scored highly alongside Spain and Morocco, with Mauritius, Thailand and Switzerland also featuring on the list.