Enforcement of Alojamento Local legislation likely to be stepped up
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.
Tag Archives: property ownership
How your home insurance works even while you’re away on holiday
Securing one’s home is the primary concern of all homeowners, especially since it can be considered as one of the most valuable assets that a person can have. This is why, as much as possible, we take advantage of home insurance policies.
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An improving picture for the Algarve property market
Two recently published surveys point to an improving picture for the Algarve property market. The 10-10-10 report from ILM Group in conjunction with Property Lynx concludes that a bottom was reached in the first half of 2012 and that the residential tourism sector is beginning to pick up. The RICS/CI Survey for February 2013 covering the whole of the Portuguese housing sector reports that confidence amongst agents is at its highest in two years.
Portugal’s Golden Visa offer set to boost property market
Last August, looking to stimulate its property market as well as its small-to-medium enterprise sector, Portugal introduced a Golden Residency scheme under which a non-EU person can obtain EU residency in return for an investment of €500,000 in property or €1,000,000 in a business.
Is there a “value premium” in sustainably built homes?
Quantitative research has been lacking to support this contention. However, as reported in award winning US blog Jetson Green, recent research conducted by the Earth Advantage Institute, an Oregon-based non-profit organization, found that new homes with a green certification (US Green Building Council’s LEED in this instance), sold for 8 per cent more than new homes without a certification. Moreover, existing homes with a green certification sold for 30 per cent more than homes without such a certification. The research was carried out in several districts in Washington, Oregon, and was based on sales between 1 May, 2010 and 30 April, 2011. While there were differences from district to district, the overall results strongly supported the notion that both new and existing homes with a green certification have higher sale values.
The contribution made by thermal mass is not fully recognised
No shortage of finance for Portuguese property purchases
Despite the general slow-down in the Portuguese property market, there are plenty of lenders ready and able to finance purchases by non-residents. However, the loan-to-value (LTV) ratios are lower and the interest spreads are higher than a couple of years ago, with affordability is a key issue.
British family opt for eco home in AlmaVerde, Portugal
Increasingly buying a property overseas for environmental reasons is becoming the norm and that’s exactly what the Keet family did when purchasing their four-bedroom home in AlmaVerde, Western Algarve.
Buying a second home in the Algarve
Case study: Brian & Debbie
In 2004, Brian Layton, then 61, and buoyed by the prospect of selling his Hampshire water cooler business, set out on a search to find a second home in the sun for himself and his extended family.
Brian & Debbie - buying a second home in Algarve