Published
Video duration:
1 minute
From 2024, foreign retirees living in Portugal will no longer benefit from their ten-year tax exemption, the Portuguese Prime Minister announced on Tuesday October 3. This measure contributes, according to him, to raising real estate prices.
The ocean as far as the eye can see and the sweetness of life are what pushed Marc and Jean-Louis four and a half years ago to leave their home in Picardy behind for the south of Portugal. A framework to which was added a tax exemption for foreign retirees for ten years. But, even with the end of the status of NHR from 2024, they will not return to settle in France. “Even being taxed in Portugal, one thing is certain, it is that life is much cheaper and much more pleasant”indicates one of the two retirees.
Between 30,000 and 40,000 French retirees
The announcement, made by the Portuguese Prime Minister on Tuesday October 3, comes in a context of exploding housing costs bringing thousands of Portuguese onto the streets. According to the Prime Minister, this unfair tax measure contributes to driving up real estate prices. But the end of this financial advantage should not discourage foreign retirees from coming to settle down. According to the Consular Council, between 30,000 and 40,000 retirees French would be installed in Portugal.