They say good things come to those who wait. But in this case, they would be wrong. Don’t wait! The Algarve is a magical corner of Portugal, but it’s no longer a well-kept secret.
According to Forbes April 2020, the Algarve comes in as the #1 best place to retire in a post-corona world. Thanks to year-round sunshine (an average of 300 days per year, ie 82%), incredible safety (Portugal is the third safest country in the world), international healthcare standards, fabulous golf courses, pristine beaches, and its relative affordability, the Algarve has been attracting a steady stream of retirees for the last decade.
But it’s not only good for an older generation of retirees who want to play golf, stroll on pristine white sands and sip caporeinas by the sea. More and more retired families with children are making their way here too.
If you’re a grandparent, that means you may just be able to convince your children to join you too — especially if they can work from home. In the post-corona world, that is a viable reality for more and more people. Escaping cities is the new trend, especially for parents with young children who dream of cultivating their own gardens on a small patch of actual land, which brings me to the top reason to retire here — the healthy lifestyle.
1. Healthy Lifestyle
I’ve lived in quite a few places in my life but never before have i been able to feed my family with “20 km farm-to-table food.” Each village/city in the Algarve has its own local farmer’s market, and Lagos is no exception. Every Wednesday and Saturday, I head to my favorite organic stalls and stock up on the freshest and tastiest fruits and veggies you’ve ever eaten. Really. Even in Tel Aviv’s Carmel Market, the produce came from much further away (usually at least 50 kms), was rarely organic (mostly grown in the occupied territories where pesticides abound and regulations are sorely lacking). Fresh produce at the market was often picked many days before and more expensive than the local grocery store. In Lagos, much of the food is sold by the actual growers of the food. It’s exceptionally high-quality, inexpensive and fresh.
2. Affordability
The cost of housing is the biggest factor for most people. The Algarve property market remains one of the most reasonable in Europe, especially if you compare it to France, Italy, and even Spain. You can still find seaview villas for under 1,000,000 euros and smaller homes further from the beach with more land range from 100,000 to 500,000 euros. Apartments are even more affordable (ranging from 2-bedrooms for 200,000 euros to luxurious penthouses in the city center for 800,000 euros).
The hardest part of buying a property in the Algarve is finding an agent/agency you can trust. Slimy ones abound! Real estate agents in Portugal get a 5% commission so the competition is stiff and many will do ANYTHING to make a sale — including lying to you. Be extremely careful who you choose to work with and make sure you have a good lawyer and a good appraiser who is also a certified engineer.
My personal recommendations for real estate investments are Algarve Unique Properties (ask for Lisa Crispim) or Sadler’s Property (ask for Nick Sadler).
Aside from housing, the overall cost of living here is also inexpensive compared to most other places in the world — especially if you’re working abroad. Electricity is probably the largest utility bill, but it’s easy to reduce costs with solar panels and smart, green home installations (like LED lights and replacing gas water heaters with solar etc).
The average purchase price per square foot in three prime areas of the Algarve.
| CITY | COST PER SQUARE FOOT |
|---|---|
| Lagos | $210.23 |
| Faro | $232.81 |
| Tavira | 111.48 |
For a couple living in the Algarve and renting, the cost of living is far less than most major cities. See the chart below taken from the International Living website.
| ITEM | COST |
|---|---|
| Housing (rent for a furnished two-bedroom apartment) | $910 to $1,877 |
| Utilities (Gas, water, electricity, phone, internet) | $240 |
| Groceries | $495 |
| Entertainment (dining out twice per week; cultural activities) | $430 |
| Household help (cleaner 2 times/month, 3 hours per day) | $50 |
| Health Insurance | $100 |
| Transportation (car expenses/train/Uber/taxis) | $2000 |
| Incidentals | $250 |
| Total | $2,675 to $3,642 |
Prices as of *2019
3. Great Healthcare
Medical care in Portugal is available at very affordable prices (we pay less than $3,500/year for the entire family (2 adults/2 children). We’re on a private plan with one of the best healthcare options available, but depending on your residency status, you may also quality for completely free healthcare in the public system. Either way, far cheaper than the United States and Israel.
I’ve spoken to many senior citizens who have retired here in recent years and they all say the healthcare is exceptional. In Lagos, there are several private clinics and the upscale private Hospital São Gonçalo. Known for their experienced medical staff, they also offer inpatient and outpatient care, imaging, lab work and surgerical operations at affordable prices.
4. Sunny, Warm Weather
The weather pretty much speaks for itself with the statistics. An average of 300 sunny days a year (82%) and warm temperatures (rarely below 60 °F) make it a year-round beach destination. Surfers flock here from all over the globe in all seasons and water-sports/sports lovers are in hog heaven. You can pretty much play golf, hike, bike, birdwatch or whatever else you like to do any day of the year. Here’s the charts for the averages by month.
| Southern Coast | ||
| Month | Air | Sea |
| Jan – Mar | 17.0 °C. 62.6 °F | 15.9 °C. 60.6 °F |
| Apr – Jun | 22.4 °C. 72.3 °F | 19.4 °C. 66.9 °F |
| Jul – Sep | 27.3 °C. 81.1 °F | 22.6°C. 72.7 °F |
| Oct – Dec | 17.7 °C. 63.9 °F | 17.0 °C. 62.6 °F |
5. Nice People
The locals, who really know how to take life slowly and enjoy every moment, and the expats, who mostly come here because they want to take life more slowly, are unbelievably kind, gentle and warm. OK, it’s true I came from Tel Aviv so I might be biased, but the people here are the nicest in the world. If you speak some Portuguese you’ll have an easier time making friends with the locals, but if you don’t, there is a large expat community with people from just about every country imaginable.
It’s easy to make friends if you get involved. Although the last year has been more challenging thanks to the global pandemic, in normal times there are workshops, festivals, classes and events on a constant basis. No matter what your interest (dance, pottery, art, tennis etc., you’ll find a local group of like-minded people who are friendly and welcoming). At least that’s been my experience.
My hobby is aerial silks, and I even managed to find one other aerialist in the area who I can train with! That’s pretty impressive.
