Property abroad

RBMK

LE
Book Reviewer
Got a bit of cash available, any recommendations
Hyson Green in Nottingham.

It's cheap and you'll have a top arrser as a neighbour.

ETA that it will feel like you're abroad, possibly somewhere warm.
 
Also look into taxes when buying property. Portugal has an 8% transfer tax plus another percent for stamp duty. Spain, in some regions, have a 10% transfer tax whilst Germany is around 2% and Italy is just 0.3% of the purchase price
In Germany property purchase tax is a matter of the individual Bundesländer and can be anything up to 6.5%.:(
 
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Got a bit of cash available, any recommendations

Portugal , well how much cash have you got as well?

Property in The Lisbon , Algarve , tourist places is kin expensive.

Idealista.pt


Out of towns and in the sticks it’s much cheaper.

Most everyone talks good English and most if not all apps, tourist electronic devices, ticket machines, have a UK flag to push so they change to English. Also the translations are superb . Most homes/ flats have fiber to the door.

FISCAL code to buy stuff etc. and bank accounts.

Best to do this in Lisbon or it’s environs, Carcavelos, Estoril, Oeiras.

Can get your Fiscal code issued on the first morning you visit, even if your are just thinking about moving there. Using your existing address (Also supposed to have a bill as well) and passport as ID. Then walk into a bank , better in one of the newer shopping malls . Activo bank or Santander, passport , new Fiscal paperwork. Queuing might take a while but getting the account and a new Debit card about 5 minutes, Credit card takes as long as you take to get an address in Portugal. Bank worker will walk out to show you how to use the ATM . Even showing you how to change your PIN into one you will remember.

Average wage is 800 euro. They are trying to raise it to 1000. Cost of living cheap but like the rest fuel, eleccy have gone up. Eating out is very cheap in local places and good as well . Tourist places are more of course.

Becoming a resident is easy , you can do it yourself using sites on the Internet or pay a lawyer 500 euro .

Once resident go into the local medical center to get your Medical number, only pain is you need a Portuguese SIM in the phone as the don’t accept other countries numbers. Medical treatment is good on their NHS but long waiting times ,those who can top up with some medical insurance.

Don’t need to change your driving license unless you want to. Transportation is superb .Road system is pay as you go on highways but they are in super condition. Other roads are in good condition as well.Trains and subways good. Flights not so good , the cheaper carriers have as normal strange time for arrival/departure. TAP the Portugal Carrier can be as cheap as Ryianair but need to book well in advance. Often it’s late as well.

If I could get a buyer for my property I’d be over in a flash.
 
In Germany property purchase tax is a matter of the individual Bundesländer and can be anything up to 6.5%.

Not forgetting the Makler kosten.

Our research for France indicates all in that it will cost around 10% on top of the purchase price. Sometimes a tad cheaper as the seller, in with their asking price, offers to take on board the estate agents fee's.

One word of warning: The French rub their hands together when they realise it is Le Rosbif buying their house. All negotiation apparently stops and you WILL get no further price concession, or reductions. I have been told that many French put their gaff up for sale at stupid money prices just to see if they get a nibble, and they may let the house sit at that price for 6, or 12 months. Further, with time the house may come down to approaching half of its initial take the mickey asking price. I am presently watching a few French property websites where there are houses of the type I am interested in, just to see how their price moves.

Our plan is to be renting for 6 months to a year when we first move there - we may hate it, we may find another area we prefer. What I am hoping for is that we will find a house in need of some work that is up for sale at a knockdown price, and you can generally only find those if you are local - there seem to be a few project houses around the area we are looking at, generally 30% to 40% cheaper than perfick ones.
 
Not forgetting the Makler kosten.
And also not forgetting the costs for the notary public and the entry in the land register. That's normally 1.5% of the price. So if you pay, say, 300,000 euros for the gaff, then that would be an additional cost of 4.5 grand. However, if it's a buy-to-let property, those particular costs can be offset against tax.

MsG
 
Portugal , well how much cash have you got as well?

Property in The Lisbon , Algarve , tourist places is kin expensive.

Idealista.pt


Out of towns and in the sticks it’s much cheaper.

Most everyone talks good English and most if not all apps, tourist electronic devices, ticket machines, have a UK flag to push so they change to English. Also the translations are superb . Most homes/ flats have fiber to the door.

FISCAL code to buy stuff etc. and bank accounts.

Best to do this in Lisbon or it’s environs, Carcavelos, Estoril, Oeiras.

Can get your Fiscal code issued on the first morning you visit, even if your are just thinking about moving there. Using your existing address (Also supposed to have a bill as well) and passport as ID. Then walk into a bank , better in one of the newer shopping malls . Activo bank or Santander, passport , new Fiscal paperwork. Queuing might take a while but getting the account and a new Debit card about 5 minutes, Credit card takes as long as you take to get an address in Portugal. Bank worker will walk out to show you how to use the ATM . Even showing you how to change your PIN into one you will remember.

Average wage is 800 euro. They are trying to raise it to 1000. Cost of living cheap but like the rest fuel, eleccy have gone up. Eating out is very cheap in local places and good as well . Tourist places are more of course.

Becoming a resident is easy , you can do it yourself using sites on the Internet or pay a lawyer 500 euro .

Once resident go into the local medical center to get your Medical number, only pain is you need a Portuguese SIM in the phone as the don’t accept other countries numbers. Medical treatment is good on their NHS but long waiting times ,those who can top up with some medical insurance.

Don’t need to change your driving license unless you want to. Transportation is superb .Road system is pay as you go on highways but they are in super condition. Other roads are in good condition as well.Trains and subways good. Flights not so good , the cheaper carriers have as normal strange time for arrival/departure. TAP the Portugal Carrier can be as cheap as Ryianair but need to book well in advance. Often it’s late as well.

If I could get a buyer for my property I’d be over in a flash.

I thought you were all in for Italia?

We are having a look in October, France is still favourite but, when you look at what you get for your money in Portugal it is honestly hard to beat. You can pick up a place for €400K - €500K, view of the ocean, loadsa room, plenty of facilities.

I have seen a few articles on them actively trying to become a retirement location of choice. Their own population is falling; to say last one out turn the lights off would be an exageration but, lots of the younger folks are taking their education and degrees to earn more money outside Portugal. We know of at least 3 mates, of mates, who were tempted to go and have an extended holiday there from the USA. Word is that having tried it they have no intention of coming back to the USA other than to remind themselves why they left.
 
Portugal ===> Welcome to Portugal, the new expat haven. Californians, please go home

Doubtless being loud, brash, and pointing out thats not how its done in America..................... yet again.

Why would you move half way around the planet only to want to meet other people who come from where you come from, complain that you can't find decent Mexican food, and Californian advocados?
 
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I thought you were all in for Italia?

We are having a look in October, France is still favourite but, when you look at what you get for your money in Portugal it is honestly hard to beat. You can pick up a place for €400K - €500K, view of the ocean, loadsa room, plenty of facilities.

I have seen a few articles on them actively trying to become a retirement location of choice. Their own population is falling; to say last one out turn the lights off would be an exageration but, lots of the younger folks are taking their education and degrees to earn more money outside Portugal. We know of at least 3 mates, of mates, who were tempted to go and have an extended holiday there from the USA. Word is that having tried it they have no intention of coming back to the USA other than to remind themselves why they left.
I am very surprised at the amount of US expats in Portugal.

Not all pensioners and many took the leap during the pandemic. Lot of younger , relative I know . 30.40 year olds seem to be moving to Lisbon.
 
Crete ( 10 years there ) was wonderful for many reasons.

It all depends on what you actually want to do each day, language skills, current state of health, how easy it is to pop back to UK to see the grandchildren etc etc
 

Dread

LE
Avoid investing in Hungarian property at the moment: it is in the middle of a price boom, but it will almost certainly self-correct once inflation drops to normal levels and the war next door stops: the government has filled +100,000 homes with refugees.

Avoid Bulgaria as it's corrupt as hell, and while you could get lucky, too many people have paid for a house only to find their lawyer + seller + local government have acted in cahoots and they've lost everything.

Montenegro: way too expensive and full of corrupt Russians and Serbs. Economy is long-term screwed thanks to an extremely corrupt development deal with China.

Albania: v. beautiful but high risk... with potentially high return. Not as corrupt as legends would have you believe: most of the criminals leave the country for richer pickings, and they rarely cráp on their own doorstep.

Slovakia: nice country, but avoid the eastern half which has high unemployment and some serious issues with racial conflict: the Roma population there suffers from massive unemployment and discrimination (not all of it unwarranted).

Italy: I'm a reasonably frequent visitor to Lake Garda, Verona, Padua, Milan, and Trento. Avoid Milan: it's busy, dirty, and has high crime rates. Lake Garda has some stunning villages and small towns on its west coast: property there isn't that expensive. Would generate good tourist income if wanted.

Austria: makes Bulgaria and Romania seem like honest places to do business. Nearly everything is split along political and religious lines and cartels control almost every industry. Outside of Vienna and Salzburg the property isn't that expensive.
 
I am very surprised at the amount of US expats in Portugal.

Not all pensioners and many took the leap during the pandemic. Lot of younger , relative I know . 30.40 year olds seem to be moving to Lisbon.

Hopefully they will get homesick before they try to turn it into mini-America.

The wife has a colleague who is going over in a few weeks to visit friends of his who moved there from California. They, according to his telling, state all the positives mentioned by yourself, and in the article.

France has the right approach they keep their culture intact, not allowing Americanisation. They do have a word/phrase for maintaining their national heritage/culture/look and feel rather than allowing big franchise operations to come in and culturally steam roller the existing way of life.

I think Americans abroard are a combination of the move to tele-working in the US with covid, and the numbers of people who simply buggered off when covid hit. Companies laid off loads of people, they could claim unemployment, along with the $2000 stimulus check that was sent out to most working folks. I think they took the opportunity to collect their unemployment whilst living in Portugal, or travelling around other places. The added benefit Californians have is the expense of their houses; places I was looking at a few years ago for $400K are now touching a $million. If they have not re-mortgaged and simply sell up that gives them $600K to travel with for a while. Some may make the move and stay but, having interacted with the US military in Germany I know that many Americans see living outside as a bit of an adventure but, ultimately an inconvenience. I reckon those who do stay will do it for the euro-passport and to get their kids into a university that is not going to cost them $250K for a degree.
 

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