Rising Cost of Living No Longer Worth it? - Living in Portugal in 2024

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Rafael Di Furia - Not Your Average Globetrotter

22 күн бұрын

Portugal, once a haven for affordable living, is now starting to face Northern European-level rents while maintaining much lower minimum salaries, making it a challenge for both locals and expats alike. The phasing out of the Non-Habitual Residency tax benefits and the uncertain future of golden visas add to the financial unpredictability, diminishing the country's previous allure for those with foreign income. Although public transport and some services remain cheaper, overall costs, including groceries and dining out, are climbing. As a result, many are now considering other European destinations like Spain, Greece, and Romania, which offer lower living costs and new incentives. Despite these challenges, living in Portugal continues to attract those who appreciate its unique lifestyle, but thorough research is crucial for expats to determine if moving to Portugal still fits their financial and personal needs. In this living abroad expat podcast episode of Not Your Average Globetrotter, hosted by dual citizen expat Rafael Di Furia, we'll go over the current cost of living in Portugal, the impact of policy changes, and alternative European destinations for expats.
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Пікірлер: 12

@teddydavis2339 20 күн бұрын

Rafael, the point you made about the language is spot on. I heard a youtuber who lives in Portugal say that she doesn't want to be fluent in Portugal. Her goal is to get a Portuguese passport. Why would anyone choose to be illiterate in a country they have chosen to call home? As usual , you're always so full of information.

@photographedemode 21 күн бұрын

I feel sorry for the locals who have very likely lived in Braga for generations and now can no longer afford to live there 🫤. This will likely create social unrest that is for sure, and political implications.

@Wee_Catalyst 17 күн бұрын

Fantastic hat!

@tedwhanstall6156 20 күн бұрын

What are the main goals when deciding where to resettle? We moved to Canada BC, 20 years ago and it is now one of the most expensive places to live in the world. If someone is being driven by cost only, they will get a real shock if they move to any foreign country. Balance everything and evaluate the big picture. Portugal is a fantastic country and offers so much.

@stevemitchell7839 13 күн бұрын

Thank you for your insightful analysis on Portugal. I like the beaches, but the tax rates are too high- 48% marginal rates. For a retired person, it is not worth it. Also, when they pulled the NHR, and monkeyed around with the Golden Visa terms, their credibility with me was lost. Too much bait and switch. I am looking at Italy and France for retirement, I would be interested in your thoughts.

@hereisnowhy2110 17 күн бұрын

I’d like to see you give Finland a go, to take lessons in Finnish is a must though. Cost of living is high, like €20 for pizza, but the pay is higher as you know. Not sure your personality would fit there though 😉

@johnnytx45 20 күн бұрын

Georgia is a cheap beautiful, ountry to live in and you can stay there one year on a visa, leave, then return for another year.

@MedianaDhea 17 күн бұрын

Tbilisi and Skopje are definitely cheaper compared to Lisbon / Porto.

@suzannederringer1607 21 күн бұрын

The bureaucratic uncertainty and volatility, and the rising prices - especially rents - are the reasons I crossed Portugal off my agenda a couple of years ago already. Also concerned about resentments against immigrants from locals who are forced to compete for limited housing options. Also - more and more as months pass - concerned about the war in Ukraine and possible expansion in, at least, Eastern Europe. I also shelved my Italian Citizenship by Descent project, because at this time I don't feel that living in Europe would necessarily be safer or cheaper than the US.

@runderwo 20 күн бұрын

That choice just ensures that the day you need a plan B, it will not be available to you.

@ConanNYC 20 күн бұрын

At least you won’t go bankrupt in Europe paying for medical bills. Which is the #1 reason people go bankrupt in the US.