7 Reasons to Choose Cascais, Portugal for Retirement

For those who have the fortune of being able relocate for retirement, the world Is your oyster. So, how do you choose where to go?
If what you’re looking for is a place to maximize your sunset years and your investments, look no further than Cascais, Portugal.

Here are the Top 7 Reasons to Choose the Cascais Coastline in Portugal for Retirement;

1. Warm Weather

Many individuals looking relocate for retirement often do so in the pursuit of better weather. The warm, Mediterranean climate is one of the top reasons that makes Portugal is considered one best European locations to retire.

Cascais is privileged with mild winters (16ºC / 60ºF) and hot-but-not-too-hot summer temperatures (26ºC / 78ºF). It averages 300 sunny days a year, meaning more potential beach days.

Residents of Cascais enjoy access to one of the 18 beaches that make up the coastline, including Guincho, Estoril, Carcavelos, and Avencas.

Guincho Beach, 5km from Cascais Center. Source: Portugal Virtual

2. Quality of Life vs. Cost of Living

Cascais is often referred to as the “Portuguese Riviera.” This is due to the Mediterranean climate, picturesque seaside location, and upscale and elegant atmosphere.

Cascais offers some of the best beaches, freshest seafood, and a diverse cultural offering, including an impressive summer concert series. However, Cascais is significantly more affordable than its French counterpart, which is known to be one of the most expensive holiday destinations in Europe.

In fact, Portugal offers one of the highest Quality of Life to Cost of Living ratios in all the world. According the InterNations, Portugal ranks #1 in the 2019 Quality of Life Survey, which takes into account factors such as Leisure Options, Health & Well-Being, Safety & Security, Personal Happiness, Travel & Transportation, and Digital Life. Meanwhile, Portugal sits comfortably at 21/40 in Europe’s Cost of Living Index, making it the most affordable country in Western and Southern Europe.

This makes Cascais the ultimate destination for retirees who are looking for a sophisticated beachside community, but also want to be savvy with their investment.

Elegant and affordable dining in Cascais. Source: Visit Cascais

3. Lifestyle of Leisure

With retirement comes more time to invest in hobbies, self-care, and leisure activities. Of these leisure activities, two of Cascais’ most famous are golf and boating.

The Cascais area is home to some of Europe’s best golf courses, many of which offer 18 holes with panoramic views of the Atlantic ocean.

Cascais also has the largest marina in the area, with over 638 berths spread over two large sections of water. Since Portugal is 97% water, the marina is a great docking place for Cascais residences eager to discover the country by sea.

quinta da marinha golf course Cascais portugal

Hole 3 on Quinta da Marinha Golf Course. Source: Quinta da Marinha

4. Proximity to Lisbon

Cascais is less than 30 km/18 mi from the capital city of Lisbon. The two cities are connected by a stretch of seaside highway (think California’s “Highway 1”) which takes roughly 30 minutes by car. The commute is also serviced regularly by a train which takes passengers directly into the Cais de Sodré station, located directly in front of Lisbon’s popular Time Out Market. Many residents of Cascais visit Lisbon on a daily basis and vice versa due to its proximity.

When comparing to the Algarve, another popular retirement destination, Cascais is much more conveniently located. Only 45 minutes away from the Lisbon International Airport residents of Cascais can enjoy the ease and sense of security in being well connected.

The Cascais train as it departs from Lisbon. Source: Flickr

5. Safety

Another key motivator when searching for a place to retire is safety.

According to the Global Peace Index, Portugal is the third safest country in the world, following Iceland and New Zealand. The GPI measures a total of 23 factors, including political instability, impact of terrorism, level of violent crime, and relations with neighboring countries. Due to Portugal’s increasing levels of safety in the past few years, it has become one of the top travel destinations, as well as a haven for expats and international families.

6. Tax Benefits

Another reason Portugal has become an international hub is because of the tax benefits it offers to foreign residents and investors.

EU-Citizens who relocate to Portugal and contribute to the economy in one of the qualified areas are eligible for the Non-Habitual Residence Tax scheme. This tax program entitles its participants to enjoy a flat 20% tax rate on Portuguese Earned income, as well as tax exclusions on foreign earned income. This means that individuals who purchase a retirement home in the Lisbon area can be exempt of taxes on all non-Portuguese income sources (including dividends, royalties, interest, capital gains).

For non-EU citizens who invest in Portuguese property, there is the Golden Visa program. This program provides a privileged residency status in Portugal, as well as freedom circulate throughout the Schengen area. Many Golden Visa participants enjoy a foreign earned income exclusion on the taxes they pay in their origin country as a result of their expatriate status.

Portugal has benefited from these tax programs on an economic level, but also a cultural level. The influx of foreign residents has contributed to Portugal’s new international identity, with the Lisbon area in particular hosting a high density of English, French, and German speaking residents.

Golden Visa Holders are eligible for citizenship after 5 years of residency. Source: Algarve Post

7. Property Investment Opportunities

Retiring in Cascais is not only an opportunity to enjoy a coastal lifestyle, but an investment opportunity as well.

The Lisbon-Cascais area has one of the strongest residential real estate markets in Europe. In fact, Lisbon was listed amongst the only 4 cities in the world with a property market that is projected to grow after the COVID-19 pandemic. The luxury housing segment in particular has demonstrated a high level of resilience and growth potential, even during times of crisis.

Coupled with the tax benefits, purchasing in an apartment in Cascais can represent a savvy investment and comfortable passive income source to retirees.