Nancy Gosling is part a growing number of Bermudians investing in property in the Azores.

She and her husband, who is from the Azores, started visiting when they married 14 years ago, and decided to buy a home there in 2019.

When they first bought their four-bedroom villa in São Miguel ― the largest island in the Portuguese chain ― a typical home like theirs was worth $220,000.

In the five years since then, the property market in the Portuguese archipelago has boomed. According to the Global Property Guide website, the region saw property price growth of 19.7 per cent last year.

“A house like mine is now probably worth about $550,000,” said Ms Gosling, who retired this year after more than three decades as president and chief executive officer of Gosling Brothers Ltd.

She said the rise in property prices makes it more challenging for locals to afford property.

“People are also turning their homes into Airbnbs, making it difficult to find a place to rent,” she said.

She and her husband live in Ribeira Seca, a parish in Ribeira Grande, a municipality on the northern coast of the island.

“We are near the beaches,” she said. “It is the opposite to Bermuda, where the beaches tend to be on the south side of the island.”

In her neighbourhood she can easily walk to the beach or the supermarket. However, on the southern coast it would be harder. “I would need a car,” she said.

She could apply for a driver’s licence, given that she is a citizen through her husband, but would have to take the test entirely in Portuguese.

The language has given her some difficulty. She has taken classes in Bermuda, but found they are usually not taught in an Azorean dialect.

“Sometimes when my husband says something, I have to tell him to speak slowly, so I can understand him,” she said. “When I first started coming here, few people spoke English. Now, everyone in shops and restaurants speaks English, so it is hard to practice my Portuguese. As soon as people look at you, they start to speak in English.”

Houses are typically made of stone with red-tiled roofs, with many abodes having an outdoor kitchen as well as an indoor one.

“It is because they don’t want the smell of fish in their house,” Ms Gosling said. “I cook in my indoor kitchen.”

Ms Gosling loves the calmer pace of life in the Azores, and also the climate.

“It is about ten degrees cooler than Bermuda,” she said. “I have never needed air conditioning in the house. Fans are fine. Here, you don’t start sweating as soon as you have stepped out of the shower.”

She is still board chairwoman at Gosling’s, and for several other Bermuda organisations.

“Because the Azores is three hours ahead of Bermuda, I can usually do something in the morning, and then get to work when Gosling’s opens,” she said.

The technology is sophisticated enough where she is, that she can work from her home.

For fun, she loves playing golf or going for a walk.

She has been in the Azores since June and plans to return to Bermuda in October. As a citizen, she cannot stay in the Azores more than six months at a time without being taxed on her income.

“But if you leave for a day and come back, it is fine,” she said.

However, she said land tax is extremely inexpensive compared to Bermuda. There is a community of Bermudians living in the Azores.

Coldwell Banker Bermuda has lately become involved in the Azorean property market, putting out a newsletter and webinars about how Bermudians can buy in the region.

“I know of other Bermudians who have bought homes here,” she said. “They mainly come for the summer.”