Portugal is Europe’s newest tech hub. But you wouldn’t know it if you didn’t know where to look.
Portugal makes clean exit from bailout
Demand for Portugal’s bonds drives down yield
Positive trends in economic climate and GDP continue
Deflation is an obstacle to growth… but will the ECB act?
Portuguese property values have been static or falling for the past 6 years, but there is plenty of evidence to suggest that the cyclical downturn is coming to an end. Here are 10 reasons why the market is poised for recovery, and why now is the best time in 25 years to buy Algarve real estate:
Attracted by a new tax regime, Europeans from high tax jurisdictions are now flocking to Portugal
Benefits include tax exemption of pensions and other foreign passive income
Domestic income from high value-added occupations is taxed at relatively low flat rate
With fishing in their blood and families to be fed, many Portuguese, including former commercial fishermen, take to beach or cliff fishing as ways to continue casting their bait in the hope of a tasty meal.
The law (Decreto Lei no. 39/2008) requiring all holiday rental properties to be licensed for alojamento local (“AL”) has now been in force for nearly six years.
The Portuguese government offer, launched in August 2012, to grant residency to non-EU nationals purchasing property to the value of €500,000 has already delivered a “decisive stimulus” to the property market, to quote a government spokesperson.