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Read about the real estate market in the Algarve, Lisbon and Portugal. As the leading estate agents on the Algarve and in Portugal we can help you find property for sale in Portugal and find a mortgage.

UK Pensioners are Better Off in Portugal!!

UK Pensioners are Better Off in Portugal!!

An article in todays Mail Online (Thurs 10th July 2014) has confirmed that retiring to the Algarve is not only beneficial for your health and happiness but also your pocket!!

Due to, not only the non habitual residency laws, which make your pension tax free for ten years, but also the fact the pound is soaring against the euro, UK state pensioners who receive their pensions in the Algarve have, effectively, been given a pay rise.

 

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According to the Mail Online :  ”Prudential found that UK pensioners living in the Eurozone now have an annual basic state pension income of €7,344.44 – a rise of €661.24, or £528, compared to the same time last year.

 

The majority of the increase is down to the rocketing value of the pound against the Euro, which has risen from €1.17 to £1 last year to €1.25 at the end of June. The rest of the rise is down to the uprating of the basic state pension through the triple lock, which in April saw it increase from £110.15-a-week to £113.10.
Eurozone expats now get 26 per cent more in euros from the state pension than they did five years ago, the equivalent of a €1,530-a-year pay-rise.”

When you couple this with the fact the cost of living is much lower in the Algarve than in the UK, a fact published in the finance section of todays Telegraph Online, and other factors like the climate, the much lower crime rate and the overall much more relaxed way of life, it’s clear to see that the quality of your retirement years in the Algarve is greatly improved by partial or total relocation to this beautiful region.

 

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For more information on how to purchase a retirement property in the Algarve please contact the team at Ideal Homes Portugal on 0800 133 7644, or email: enquiries@idealhomesportugal.com

 

You can also visit our website www.idealhomesportugal.com or join us at one of our upcoming UK property shows, as advertised by Duncan Bannatyne for more information go to www.theoverseaspropertyshow.com

 

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