Holiday Homes - Why it pays off to invest in holiday real estate
In view of current inflation and rising holiday costs, buying a property comes into question for many, not only to save costs in the long term, but also to secure an investment in value.
Holiday Homes - why it pays to invest in holiday properties in Mallorca and Portugal
Holidays are getting more expensive every year, and the desire to have our own holiday home is growing. Covid is not the least to blame for this, because the pandemic has really put us to the test when it comes to planning. But where is the best place to invest? Benedikt Gabriel, founder and managing director of the domestic real estate platform FINDMYHOME.AT Premium Living, has taken a close look at the trends and sees not only an increased interest in real estate around Austria's lakes but also a clear tendency towards real estate abroad. And there, for the time being, Mallorca and Portugal. Gabriel: "In addition to the beautiful surroundings, Mallorca has the advantage that the island is now very easy to reach from Austria and there are plenty of flights. Meanwhile, Portugal is still a little insider tip that is rapidly developing into a hotspot."
However, anyone who wants to take up a second home abroad should not rush headlong into the adventure. Gabriel: "Every country has its own laws. Therefore, we recommend that every buyer consult experts on legal and technical issues. Above all, you should thoroughly check building permits and usage permits and only buy through reputable estate agents - there are plenty of them on Mallorca as well as in Portugal."
Mallorca as the "model pupil" of the Spanish islands
For a good twenty years now, the Balearic island has enjoyed constant popularity as a second home, and there are plenty of reasons for this. Gabriel: "Mallorca offers a varied landscape, a very good infrastructure and an attractive range of properties with very high quality standards and stable values. In addition, everyone can find what they are looking for here - the finest culinary delights, wonderful beaches to relax on and a multitude of (beach) clubs where it is good to party. As far as real estate is concerned, "the southwest of the island is currently in particularly high demand," says Gabriel, because it is also easily accessible from the capital Palma. According to the expert, classic fincas are currently in particularly high demand, as are flats with a sea view.
History and dishes - the magic of Portugal
There are three main reasons for the high demand for real estate in Portugal: The Mediterranean climate with warm summer temperatures all year round, the high security of the country as well as the moderate cost of living compared to other European countries. Lisbon and the surrounding cities such as Oeiras, Cascais and Estoril are still among the most sought-after areas. The coastal regions, especially the Algarve and Comporta, are also popular with buyers and investors alike. The high demand is also due to the tax advantages the country offers. These include the so-called Golden Visa, the D7 Visa or the Digital Nomad Visa. These programmes enable highly qualified workers, start-ups, entrepreneurs and investors from all over the world to live and work in the country. Benedikt Gabriel: "The offer in Portugal is currently particularly extensive and ranges from large flats or penthouses in the city centre to villas, such as in the coastal town of Cacais, to farms and estates in the wine regions of Alentejo or the Douro Valley."
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