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Are proposed Buy to Let changes in the UK changing your outlook?

Little known changes announced in the UK Budget on July 8th are beginning to be understood by finance professionals and representatives of the staggering two-million UK residents who own Buy to Let property.  

Whilst the full impact of the changes has not yet been worked through (as full implementation is likely to take a number of years), there’s already a feeling that some owners with large property portfolios are beginning to sell. Whilst this may help return some much needed housing stock to the UK market, it is prompting some sellers to think further afield for their next investment.

Since the Carnation Revolution in 1974, the Algarvian property market has seen considerable fluctuation. In the years following the 2008 banking crisis, prices in some locations fell by on average 30%, but those who’ve held onto their property are now seeing a return of their value, providing that their homes have been well maintained!

So with recovery underway here in Portugal and negative changes in tax legislation across some EU Nations, we’re now welcoming buyers of all nationalities who’re looking to invest in an Algarve Home. Our reaction remains the same as it has for many years; if you buy ‘well’ (right property, right location), intend to own the property for at least the mid term and are willing and able to maintain and update it to current standard, then there are good opportunities for income / investment on the market right now.

Ideally, those people looking for an investment will also get some personal enjoyment out of the property too: meaning inexpensive holidays when you want to take them and you then leaving the property management and rentals to a third party, such as our sister company, Cerro Novo Property Management. 

We’re fortunate to have almost thirty years of experience across the Central Algarve, so for many vendors in our area, we’re the first port of call when looking for valuations and advice when selling. Many of these enquiries have now come to actuality, so we’re able to offer anything from Pool / Bar business through to a unique Oceanfront villa that could provide owners with a solid investment for the future. Our Property Consultants have access to a wide portfolio of properties that could be ideal for home and income or for multiple family occupancy too, so now is the time to start to plan.

So, if you’re looking for good advice from an agent that really understands the market, why not talk to us first? Call at anytime on +351 289 510 790 or email directly: sales@cerronovo.com

We’re also attending the ‘A Place in the Sun’ Overseas Property exhibition at the Birmingham NEC from 25th – 27th September. Why not apply for FREE tickets as our guest? Simply click this link for more information.

Best wishes

Robert and Ana