Retirees in the UK spend a higher proportion of their income on food and energy than other age groups and as such, it is this demographic that has been hardest hit by the continual rise in the cost of these commodities this year. In the UK, food prices shot up by more than 7.4 per cent from January to October, while utility costs rose by 7.6 per cent to June (figures from the Office of National Statistics).By contrast, living in Portugal is more affordable than the UK with fresh food, utilities, dining out and general entertainment well below British prices. For example, UK retirees are being swamped with average power and water bills of £1,698; in Portugal this cost is approximately £400. On day-to-day perishables, the price of a litre of milk in the UK is approximately 80p compared to 50p in Portugal. Further draws include the year-round moderate temperature, which means that heating bills are automatically reduced, as well as the quality of healthcare.
Medical care is a key consideration when choosing a retirement destination. In Portugal, EU retirees qualify for the same free basic healthcare that is available to all residents in Portugal. This includes doctors' appointments and the availability of basic medicines.
Ana Rebelo, department of marketing and communications at the Catarino Group, one of Portugal's leading developers, said: “Together with a stable political climate, good weather and relaxed way of life, Portugal is only three hours from the UK making it possible for those who have relocated to visit friends and family regularly and easily. All of these factors add to its allure and contribute to its popularity.”
For those on the hunt for the ideal home, there is a wide range to choose from, including Póvoa Dão, a seven hundred year old Medieval village, located in Central Portugal just one-and-a-half hours from Porto. This village, which is being scrupulously restored, will house a total of 52 one, two and three-bedroom units combining a rustic appearance with modern, comfortable and cosy interiors.
Amenities at Póvoa Dão include a clubhouse, bar and restaurant serving fresh organic food from the surrounding 120-hectare farm.
The nearest beach is 45 minutes away on the Silver Coast. The Serra da Estrela and Serra do Caramulo mountains, which are also in close proximity, provide the ideal destination for skiing in the winter and hiking or walking in the summer. Additionally, within 20 minutes of the development are three spas and the 18-hole golf course, Golf Montebelo.
Prices at Póvoa Dão start from €165,000 with the option of fractional ownership also being offered. Fractional prices start at €64,500 for a one-sixth share; this gives two weeks four times a year on a set rotation basis.
For more see: www.povoadao.co.uk