Portugal’s Prime Minister insists the Anglo-Portuguese relationship will endure, following ‘Brexit’.
29 June 2016
Last week, Portugal’s Prime Minister António Costa released a statement regarding the UK’s decision to depart from the European Union, calling it “a sad day for Europe”, but insisting that Portugal’s alliance with the United Kingdom would continue.
Prime Minister Costa said: “We have the oldest alliance in the world with the United Kingdom and it will carry on long after what will be the departure of the UK from the European Union”.
He also added that Portugal “will do everything to ensure all the rights of the Portuguese community in the UK” are guaranteed, along with “all the rights of the British citizens who live, visit or invest in Portugal.”
The Prime Minister’s comments are good news for property purchasers considering buying property in Portugal. In recent years Portugal has become one of the best locations in Europe to invest in property; based on a combination of low prices, high rental yields comparative with the rest of Europe and the obvious lifestyle benefits.
While The Algarve is a favourite amongst golfers and those seeking the luxury Algarvean lifestyle; a recent report by Savills International labelled Lisbon as Europe’s prime residential property market. You can download the full Savills report here.
As the uncertainty surrounding Brexit continues, it is positive to see the reassurance of the Portuguese Prime Minister that Britain’s relationship with Portugal will not be overtly affected. It is clear from Prime Minister Costa’s comments that, Brexit or not, Portugal will continue to offer a fantastic location for Brits buying property overseas.