If you buy or refurbish a property, you want lasting values.
So many urban myths about currency exchange. Want to find out more about them? Read here.
The average price property rocketed by 15.4 per cent in the space of a year in Portugal. But while real estate continues to result in relatively decent profits for sellers, new data also indicates that their expectations of the property’s word and it's actual selling price have widened further this past year.
THE PORTUGAL NEWS, FRONT PAGE STORY, Buyer-Seller expectation gap widens to 22 per cent, of 16 March 2019, page 4
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.
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
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).