Property prices soar 12% in Portugal despite crisis as Costa del Sol expats in Spain prepare to move before Brexit

AS residents on Spain’s Costa del Sol prepare to move to Portugal property prices soar 12 per cent even in the current coronavirus crisis.

Despite the current coronavirus crisis, property prices in Portugal are rising at an incredible 12 per cent growth as expats’ prepare for Brexit looms.

Expats are on the move to Portugal as we the Euro Weekly News reported earlier in the year, as the Brexit deadline still loomed, they seek the same weather but fear what Spain will be like after Brexit, whilst Portugal has what it seems a far more relaxed viewpoint and is welcoming expats.

Portugal is already preparing “Brit only” channels at its Algarve based Faro airport as it entices to pull away expats for their sunny climate homes choice.

The Portuguese government clearly sees an advantage with Brexit looming and wants to be in pole position welcoming expats to their country and boosting their economy, there are to be many advantages according to expats on Spain’s Costa del Sol.

“Yes we are looking to move across the border, I think Spain will change quite heavily after Brexit and we are already seeing negativity in Spain, must have this, must have that, change this, change that, whereas it seems Portugal wishes to welcome us with open arms,” said La Cala Mijas resident Margret Ibbotson who has already sold her Spanish apartment as she selects her new property in Portugal.

“I’m going to the Algarve, probably Vilamoura by the looks of it, I’ve been over a few times to take a look before the lockdown and now I’m just waiting to go back and look at a final shortlist, I know I need to move fast now as prices are on the increase with many having the same thoughts.”

“Portugal looks a far better prospect after Brexit, there are so many tax breaks and advantages to moving there, as well as I think they have better weather, not so sticky in the summer, it’s a cheaper cost of living, fine foods and wine and generally a more welcoming attitude at present to expats,” said Adrian Lloyd from Marbella.

“Prices on property though are rising and it’s because, according to the property agents, a lot to do with it being the expats’ next destination, this socialist government here in Spain is getting worse and I believe it’s the right time to relocate to the Algarve.”

Whilst we spoke to expats on the Costa del Sol it seems other expats also have the same idea from other regions of Spain “I’m considering it, seriously considering it, Alicante I am at present, but I don’t see the advantages here any more, we have started to think about the Algarve,” said Gaynor Jones.

Property agent and Bars Abroad Managing Director Gary Adamson from Spain’s Fuengirola was cautious but did admit an increase in levels of interest, ” I personally don’t see Spain changing much after Brexit, but I am getting a lot of enquires asking if I operate in Portugal too, at present only property, but I am studying the bar market as there seems to be a gap appearing in the market from people in the UK as they enquire about Portugal.

“Prices are on the increase in Portugal due to the Brexit factor for sure.”