# Rental property business idea?



## palmeiro (Sep 22, 2008)

From reading some of these forums, would it be safe to say that buying a property to rent (long term and/or short term) in Portugal would be a viable business idea?

When expats look to rent as a transition into Portugal, before committing to buy, are they looking for something specific? Or is it about the cheapest rent? Would they concentrate on being close to i) the coast, ii) major cities, iii) highways?

Are the majority still flocking to Algarve? Sounds like the Silver Coast is becoming popular. Is north PT even worth looking at?

On another note, are there things that expats are missing in PT that would make their lives more comfortable or easier to function in PT? I've heard people mention pubs and english foods around Silver Coast. Anything else?

It seems that I might have more success in moving to PT if I plan to be self-employed instead of job searching. Although as a certified accountant, I may find work. I'm just curoius of others' comments or experiences?


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## omostra06 (Sep 11, 2007)

palmeiro said:


> From reading some of these forums, would it be safe to say that buying a property to rent (long term and/or short term) in Portugal would be a viable business idea?
> 
> When expats look to rent as a transition into Portugal, before committing to buy, are they looking for something specific? Or is it about the cheapest rent? Would they concentrate on being close to i) the coast, ii) major cities, iii) highways?
> 
> ...


Good luck with your plans


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## palmeiro (Sep 22, 2008)

Potential clients I think would be mostly overseas that come to PT to relocate but aren't sure where to buy. So they look to rent first. I would think there is a market for this. Other clients would be vacationers. So I would think to offer 3 types of rent charges: yearly agreement at a lower monthly rate, off season monthly rates (Oct-June) for month-to-month rent, and seasonal weekly/monthly rates (July-Sep). I don't know if locals would make up a large portion of the demand.

I know PT is beautiful in most areas, but I would want to be closer to where majority of immigrants are looking at moving to. I'll have to get some stats on the populations. Best guess would be Algarve, around Lisbon, and around Nazare/Foz areas.

I do speak portuguese, but not fluent. My parents and my wife were born in PT. So there's a little language barrier, but would catch on.

I'll be in PT this summer and plan to check things out a bit closer, in between visiting family. Wife's family is from the far north (Ponte da Barca), mine is from the far south (Faro & Portimao). The bonus is I get to see the country top to bottom every time. So beautiful!

Thanks for the reply!


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## Veronica (Apr 5, 2008)

palmeiro said:


> Potential clients I think would be mostly overseas that come to PT to relocate but aren't sure where to buy. So they look to rent first. I would think there is a market for this. Other clients would be vacationers. So I would think to offer 3 types of rent charges: yearly agreement at a lower monthly rate, off season monthly rates (Oct-June) for month-to-month rent, and seasonal weekly/monthly rates (July-Sep). I don't know if locals would make up a large portion of the demand.
> 
> I know PT is beautiful in most areas, but I would want to be closer to where majority of immigrants are looking at moving to. I'll have to get some stats on the populations. Best guess would be Algarve, around Lisbon, and around Nazare/Foz areas.
> 
> ...



Please bear in mind that once you actually have a business, whether it is rental properties or any other sort of business it is against the forum rules to advertise.
If you wish to advertise you will need to upgrade to premium mebership andstick to the classified section for advertising.


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## Mr.Blueskies (Feb 24, 2009)

Hi Palmeiro,

This is just my opinion and I am not trying to upset anyone, but this is how it looks to me. I see no evidence at all, that buying to let in this region is a viable proposition
at all. The only people that I see who benefit from buying a property here, are those who are
retired and who live here full time. They can sell, their uk property and if they first do their
homework thoroughly? next buy something here that is not only of superior quality but for half
the price. So,now they not only have a nice home, but also money to bank and the additional
benefits of a lovely climate, cheaper living costs, in an extremely safe beautiful country. "Happy days!

I know people who have retired here and who have genuinely believed that they could generate a little extra income by doing a bit of b+b or by letting their self contained
annex. Lots of people also spend heavily building on additional guest accomodation and
chasing after a virtually non existant rental income in my opinion. People coming on holidays
want sun, sand and sea. If you have beach front accomodation, perhaps ? you may manage
to rent it for 10 weeks of summer. There are also advertising costs and management company costs to be deducted. I just don't see how this can be worthwhile to be honest.
Who, when on holidays is going to want to stay in a villa, or cottage out in a small and very
quiet village and perhaps 20km from the coast ???

As for staying in a b+b ? It is possible to get a double room in lots of very nice
hotels here for €30 - €40 a night. There is a bar if you would like a drink, a nice restaurant if
you would like to have a meal and probably a band and entertainment also. Also, if you should
want a taxi to take you into town, they are readily available. So,no contest imho.

I also sometimes ponder about the reason or logic behind even buying a holiday
home here. I see all of these houses that all seem to be deserted and locked up for 50 weeks of the year. With no heat running during winter they all must be damp and mouldy
when they eventually get opened up for the two week annual holiday. The owners must 
spend the full two weeks just putting them right after the ravages of winter before it is time
to just head back home once again.lol I really don't understand any of it. I mean, because
of work committments, they can all only come for two or three weeks holidays a year anyway.
Would it not make better sense to just come and stay in the local hotel and just keep their
cash in the bank ?

Perhaps there is something that I am missing here ?


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## palmeiro (Sep 22, 2008)

Thanks for the reply. Everything you said makes sense. I was just curious what people thought about the idea.

I'll be out there this summer and check things out. Get an idea of what would make the most sense for a Canadian accountant to move to Portugal and be able to live comfortably with the wife and kids.


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## silvers (Sep 22, 2008)

Are you a hockey fan Palmeiro?


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## palmeiro (Sep 22, 2008)

I like hockey, but I'd rather watch soccer (futbol). Where I live, we don't have an NHL hockey team so I lost interest.

I do love watching the English Premier League, and the Spanish and Portuguese league. I am a "Benficista" but it's more of a love/hate relationship!!


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## silvers (Sep 22, 2008)

I am a Manchester United fan, Mrs Silvers is a Leafs fan, she grew up in Toronto. Her father is a Benfiquista also.


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## palmeiro (Sep 22, 2008)

I must say of all the UK teams, Man U is my favorite also. And your father-in-law sounds like a smart man! haha!


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