Perfect Escape

New figures from the Numbeo Cost of Living Index have revealed a widening gap between Portugal and the UK. At the start of 2021, Portugal was ranked as the 50th most expensive country in the world. A year later, it is now just the 64th most expensive.

The UK, meanwhile, has gone from being the 28th most expensive country in which to live in 2021, to the 27th in 2022. With inflation now at a 30-year high in the UK, it’s likely that gap will widen even more over the course of the months ahead.

Portugal’s increasing affordability delivers multiple advantages to those considering holidaying or moving there from the UK. One of the most starkly apparent differences is the cost of property. Two-bedroom apartments at the Algarve’s stunning Amendoeira Golf Resort, which is owned and operated by Kronos Homes, are available from €285,000 for a home with an internal area of 109.85m2. That equates to £237,000 at the time of writing, well below the average cost of a home in England which now stands at £288,000 (ONS), making it the perfext location for a holiday home.

Alda Filipe, Sales and Marketing Director at Kronos Homes commented: “Property in Portugal is so much more affordable than it is in the UK and you get so much more for your money here too. The lifestyle is very different as well, with so much emphasis on outdoor living thanks to the wonderful climate.”

The Algarve is known for its sunshine, with an average temperature of 24°C in July and August and 12°C in January. London, by way of comparison, averages 19°C at mid-summer and just 5°C in January. London peaks at an average of seven hours of daily sunshine in June before dropping to six in July; in the Algarve, residents can expect 12 hours of sunshine per day from May to August inclusive.

Alda continues: “With the cost-of-living gap widening between the UK and Portugal, we’re anticipating a busy year ahead when it comes to interest in second homes in Portugal, as well as fulltime residences. Portugal delivers so many advantages, whether as a regular holiday destination or a place to live, and there’s a lot of appetite for that among British buyers right now.”

https://www.amendoeiraresort.com/en/