Portugal's Recovery from Austerity and European Financial Restructuring
There’s been much speculation in the Media regarding the upcoming Budget in Portugal, setting in stone proposals that will hopefully relieve some of the austerity tax burden on the Portuguese populous as well as allowing investment in infrastructure and consolidation of debt.
Whilst for many, these Government machinations will mean little, for those owning, selling or renting Portuguese Property, there may be changes to some tax legislation that we’ll all need to understand.
As the reality becomes clear, we’ll be working with our marketing teams to ensure all the latest information is communicated via or blog page, social media and to our Property Consultants based here in Albufeira.
Whatever changes are approved by the Coalition Government, the Cost of Living in the Algarve remains around a third less than northern European economies and all combined with a healthier and more secure lifestyle! No wonder living in and retiring to Portugal is known as "Europe’s Best Kept Secret”.
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In the meantime, we continue to be amazed by autumn; with enquiries ahead of last year and attendance at overseas Property Exhibitions ahead of expectation.
UK Buyers continue to buy despite the political unrest caused by Brexit. Overwhelmingly, our Clients are looking to purchase now, especially those that can take advantage of Non Habitual Residency and other tax efficient regimes.
Scandinavian Buyers are taking advantage of historically low interest rates and Non Habitual Residency and are seeking quality properties in the warm and friendly Algarve.
French Clients continue to invest in Portugal, with great interest in Non Habitual Residency, freeing families from the increasing tax burden in their home country.
Wherever you’re looking to buy and from anywhere in the world, our multilingual team will help you find the perfect property.
If you’re looking to sell your Algarve home, let us provide a current valuation and promote your home to an ever increasing list of waiting international Clients.
We look forward to discussing your requirements further.
Robert and Ana.