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Blessed with a superb coastline and some of the country s most beautiful
beaches the Algarve continues to be one of the most popular holiday
destinations in Europe. There are many new homeowners in 2022 since the
property market has been very active. Like many other second home owners, you will
want some rental income from your property to cover costs or, in the case of an
investment, to maximize your return. You may be unfamiliar with the financial
reporting requirements for short-term holiday rental accommodation under new rules of the
Alojamento Local regime. Here is an update for 2023.
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Published on 31/01/2023 00:24:02 |
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Its that time of the year
again when we reflect on the past year and provide an outlook for the property
market in the year ahead, 2023.
After two years of
uncertainty people fully embraced the freedom to travel in 2022 resulting in an
excellent year for the hospitality sector and property market alike. For most
homeowners of self-catering accommodation in the Algarve rental income is at an
all-time high and the year is not even over yet! Since beauty is in the eye of
the beholder, the more people spend quality time in the Algarve the higher the
number of prospective buyers. This is reflected in another record breaking year
for the real estate market.
With property prices
rising during the 1st... |
Published on 15/12/2022 23:34:01 |
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The pace of rising interest rates is increasing
due to Eurozone inflation hitting a new record of 5% in December according to
the release of the latest data. Rising interest rates mean higher monthly
payments for homeowners with a mortgage. As rates are still relatively low it
could make sense to refinance your current mortgage. There can be various
reasons to refi:
- Lower interest rates mean lower monthly
repayments
- Capitalising on the current low rates by
choosing a long dated fixed mortgage period which offers financial certainty,
stability and peace of mind
- Choosing a different type of mortgage and/or
extending/shortening the repayment period
Who... |
Published on 06/02/2022 00:46:27 |
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It is that time of the year
again when we reflect on the past year and provide an outlook for the property
market in the year ahead, 2022. Its been a remarkable time which has seen property
prices rise again. We are now almost two years into the pandemic with a new
wave, the 4th taking place with an alarming increase of Covid-19
infections in various Northern European countries. A new corona variant called
Omicron in South Africa is reason for caution as it spreads faster and is
potentially more dangerous. Lockdowns are again looking to be part of the
solution to stop the spreading of the virus which potentially can slow down the
economic recovery. However, the property market in Portugal never looked... |
Published on 01/12/2021 10:18:13 |
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Pandemic or not, the
Algarve is still one of the most popular holiday destinations in the World. You
do not have to be rich to have a wonderful time here, there is something for
all lifestyles. Due to the Covid-19 pandemic travel can be uncertain and often
involves additional testing adding to cost. When you are on holiday with
children it can be tricky if you have to stick to a budget. You will be buying
them souvenirs, going out for dinner and from time to time taking them to a
theme park. It is all part and parcel of a family holiday. Here are some tips
to save money whether you are on a budget or not. The best tip which can
literally save you hundreds of Euros before going on holiday, we have saved for
last.
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Published on 05/08/2021 23:43:25 |
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Every year in December
we reflect on the past year and provide an outlook for the property market in
the year ahead, 2021. It has been a year like no other, one that will stay on
our minds forever. The by long-term historical standards relatively mild
Covid-19 pandemic has led to many lost lives and enormous economic damage
causing great uncertainty for people and businesses alike and is still ongoing.
Contrary to our expectations the market held up remarkably well. We have seen
some sharp reductions in asking prices of resale properties, but the majority
of vendors left prices unchanged. There has been many cross currents this year.
Some areas like Quinta do Lago and Vale do Lobo have seen an increase in
transaction... |
Published on 01/12/2020 10:50:49 |
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