2018 - A Solid Year Ahead for Portuguese Real Estate
We’re now ten years on from the Banking Crisis which instigated the credit crunch and subsequent world recession; leaving the European economy in a precarious position.
A decade later, Portugal is one of Europe’s success stories, with steady but sure growth in most aspects of the economy and significant external investment within the tourism, technology and Real Estate sectors. This recovery from austerity is resulting in infrastructure improvements and new investment in daily services: bringing a sense of optimism, creativity and vigour.
What does 2018 have in store?
Real Estate in Portugal is attracting investment from across the world. In the Algarve, a large percentage of all properties are sold to non-Portuguese citizens, with a substantial amount of these purchasers taking advantage of Tax Efficiency Regimes such as Golden Visa and Non-Habitual Residency (NHR).
NHR continues to offer one of the most advantageous tax regimes in Europe and forms a part in many of our Client’s preparation to spend more of their time in the Algarve. In recent roadshows with the British-Portuguese Chamber of Commerce, Filipe Abreu of PLMJ Advogados was very clear: NHR will remain in place and will continue to offer significant advantages to European Citizens looking to retire or relocate to Portugal.
To ensure we have capacity to cope with an increasingly active market, we’ve recently recruited three new members of staff to ensure we provide the best possible service at all times:
Hanneke is a multilingual Real Estate and Tourism professional with 30 year’s experience of the Algarve and brings a wealth of knowledge and experience to the team at Cerro Novo.
Carina joins the Property Consultant Team at Cerro Novo, bringing with her significant experience within the local Real Estate sector. Born in Porto but having lived and worked in the UK for many years, Carina is an expert in understanding overseas buyers’ requirements when buying property abroad.
Maria joins the team as a receptionist and PA to Ana Penisga Amorim. Maria and Aliete on our front-desk always provide a warm welcome to our offices in west Albufeira and are your first port of call when visiting in person or via the phone.
Are you looking to sell?
Cerro Novo are currently listing many quality properties For Sale in the central Algarve, however we’re always looking for interesting properties in great locations to satisfy the requirements of our growing Client waiting list.
We are offering a no obligation, professional valuation service for potential Clients looking to sell their home. With market valuations set to rise around 8% in the next year, now could be the perfect time to sell your Algarve home. Contact Hanneke on +351 289 510 790 or send an email now to firstname.lastname@example.org in order arrange your free valuation.
All of the team at Cerro Novo believe 2018 will be a seminal year for Portuguese Real Estate, with significant but measured growth within the Algarve. We look forward to discussing your requirements at our offices, over the phone or via email.
With very best wishes for March; a great month to fall in love with your future Algarve home.
Robert, Ana and all the team.