A series of new rules regulating the classification of properties as Alojamento Local (AL), or short-term rental properties, came into effect end of 2018. There are a number of alterations to the existing legislation which controls the process of legalising private properties as AL.
Yet, the changes will mostly affect new properties signing up, with fewer consequences for existing AL properties. All types of properties that provide short-term rental accommodation in exchange for payment can be considered AL, and not just those meant for tourists.
Portugal may not be the first country that comes to mind when talking about favourable tax regimes but in fact, Portugal offers a very attractive tax regime for resident individuals, referred to as Non-Habitual Residents (NHRs).
Every vendor wishes to sell their home and maximise profits. While luxury homes have a tendency to shine on their own due to their features and finishes, that does not mean that a luxury home does not need to be prepared for luxury homebuyers.
People typically buy a vacation property in the Algarve to use as a second home and also as an investment property that brings in rental income to offset some of the costs of ownership. The rental demand has never been stronger and with this increasing demand and lucrative income potential, more property owners are putting their properties on the rental market. Often renting for just 4 to 6 weeks can cover annual running costs. When buying a vacation rental property in the Algarve, it’s important to choose a vacation destination that fits to the rental client you wish to attract, so the property will be rented frequently
Why you should never let buyers take possession before completion? You found a property in the Algarve to buy? Early possession nightmares - protect yourself.
Portugal was placed top ten of retirement destinations by the Annual Global Retirement Index.
What taxes and additional costs do you have to calculate on top of the purchase price of the property when buying in Portugal?
What a roller coaster it has been – you have gone through lots of viewings and finally have found ‘the special one’ home in the Algarve. What now?
Ever wondered what your Real Estate Agent does all the time?
Honesty is important in any job, but in the real estate industry, being honest is of utmost essence. When you buy or sell a holiday home in the Algarve, you will be faced with a significant financial transaction.
You have made the decision to purchase a second home in the Algarve, however, now you are struggling to choose between buying in a Golf Resort or a service-charge free villa up in the hills? There are advantages and downsides for both options. Read below what the biggest pros and cons are.