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Local Lodging new rules update 2023 - Happy Homes Algarve

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.

Published on 31/01/2023 00:24:02 Read all article

Algarve Property Market Outlook 2023 and review of 2022

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 Read all article

Inflation, rising interest rates and mortgages in Portugal

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


Published on 06/02/2022 00:46:27 Read all article

Algarve Property Market Outlook 2022 and review of 2021

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 Read all article

How to plan a family vacation in the Algarve and stay...

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.

Published on 05/08/2021 23:43:25 Read all article

Algarve Property Market Outlook 2021 and review of 2020

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 Read all article
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