What it really costs to pack up and move to Portugal: Your pension and savings will go a LOT further while you'll pay a fraction of the tax. Read our detailed guide it is on annual property tax where there's a real cost saving - the costs are a fraction in Portugal By Liz Rowlinson Updated: 08:28, 30 June 2024 e-mail 32 shares 2 View comments With a career in the Royal Navy and the Ministry of Defence, Peter Reynolds and his wife Karen were used to moving house. While Peter hails from Scotland, the couple lived in Portsmouth and Eastleigh with postings to Hong Kong and Gibraltar.
And when it came to retiring, they knew they wanted to settle abroad. After many happy holidays in Portugal's Albufeira, they found a rustic property 15 minutes inland of the Algarve's biggest tourism resort. One of the advantages is that in the restaurants of their village, Cerro do Roque, they are typically surrounded by local workers rather than tourists.
When they tuck into bread and olives, followed by piri piri chicken or pork and clams washed down with a beer or a glass of local vinho verde, that menu do dia (menu of the day) costs just €10-12. In 2022, the couple fell in love with a four-bedroom quinta – or rural house – with a small swimming pool surrounded by a large garden of fig, almond lemon and loquats trees that they bought for €330,000 (£278,000), less than they received for the sale of their four-bedroom house in Eastleigh, Hampshire. Peter Reynolds and wife Karen knew they .
