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June 20, 2013

Portugal property market is picking up - golden opportunity

The golden visa opportunity which I mentioned in my recent article of May 5th entitled "Portugal gives gold visas to non-Europeans who buy houses" seems to have come to the attention of the UK media.

telegraph 17 Jun 2013

I noticed the recent article pictured above in the Telegraph on the 17th June with an appropriate byline/sub-header, "golden opportunities to be had when buying a home in Portugal".

The article by Jake Wallis Simons is very positive about the property market in Portugal, as well as drawing attention to the obvious benefits of our calmer lifestyle and friendly folk, the spectacular beaches, excellent food and wine, golf, watersports and pleasing climate.

Jake Wallis Simons writes in the Telegraph that:-

Post crisis "the economy has stabilised" and that "house prices are much lower than they were before. This means good deals for British buyers. Moreover, the Portuguese government is taking steps to attract investment from overseas. These include reducing tax for expatriates from 48 to 20 per cent, offering a "golden visa" - which converts to citizenship - to people buying properties worth EUR500,000 (£425,000) or more, and abolishing tax for retirees altogether."

The Telegraph article also quotes Álvaro Santos Pereira, Portugal's Minister for the Economy and Employment as saying:-

"In the last budget we reformed the tax system to make it very advantageous for expatriates. We are taking steps to streamline the level of bureaucracy, and our banks will happily lend at reasonable rates to people with a downpayment of 20 to 30 per cent."

David Rowat, director of operations for Portugal Property, one of the larger real estate companies in Portugal is quoted as saying that the property market is picking up, with dramatic improvements in the last two years:-

"In 2011, we sold 12 properties," he says. "In 2012 we sold 53. So far in 2013, we are averaging two a week."

The article also notes that in the Silver Coast there are some good bargains to be had in this region with lower prices. But an upward movement for prices in the Lisbon region since the "golden visa" legislation was introduced suggests that a good time to buy is now before the price impact spreads to other areas.

Lisbon, Cascais and Estoril are reported as seeing an influx of wealthy Eastern Europeans, Russians and Chinese keen to get a European passport and prices are gravitating upwards to the EUR500,000 mark needed to secure a golden visa.

Read the full Telegraph article at:-

telegraph.co.uk - Portugal property embrace a lifestyle of sun sea and sport

June 19, 2013

Where to Buy - Lisbon Region - Living in Portugal - Obidos

Four of the six resorts in the Lisbon region recommended as places to buy on the goverment website, Living in Portugal, are in the Obidos area. Three of those are beside the Lagoon, and one on the beach....


We've always thought of the jewel in the crown of Portuguese tourism, Obidos, as being at the heart of the Silver Coast region, but it's been clear for some time that the government wants Obidos in the capital's tourist region.

To quote from the goverment website:-

"Lisbon is a cosmopolitan city; it is one of the most fashionable European capitals, as well as the name of a region that has a lot to offer: imposing monuments, natural parks and a wide range of golf courses. It is close to the Estoril Coast, the romantic town of Sintra, Óbidos and Tomar, sites of tourist and cultural interest, as well as Fátima, one of the most important shrines to the Virgin Mary in the world."

So as well including Sintra and Estoril which are near to the city, the reach of the greater "Lisbon region" now extends out into the Silver Coast and on into the central region to include Tomar and Fatima. The world is certainly shrinking.

If you are thinking of buying in portugal I recommend looking at the Where to Buy - Lisbon Region - Living in Portugal web site as it has many resources and articles such as:-

Portugal Silver Coast Property For Sale

June 18, 2013

Portuguese Property - A Place in the Sun - NEC Birmingham

Amanda Lamb, Jasmine Harman, Jonnie Irwin and Laura Hamilton

A Place in the Sun Live takes place at NEC Birmingham on 27th - 29th September 2013.

At A Place in the Sun Live there is an area devoted exclusively to Portuguese property, with developers, agents and legal experts to help you buy a home safely and with confidence.

Don't forget you don't need to pay for tickets, you can get free tickets using the special links I first posted at "Free Tickets for A Place in the Sun Live".

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