You've finally found the perfect property in the Algarve – the stunning views, the ideal location, and everything you've dreamed of. But then you discover it has some irregularities. What should you do? Don't panic. While this is a common occurrence in Portugal, it's crucial to understand the implications and take the proper steps to protect your investment. The Algarve's stunning coastline and...
November 2024 brings significant changes to the Alojamento Local (AL) landscape in Portugal. Starting November 1, 2024, Portugal has loosened its grip on short-term rentals, reversing some of the stricter rules introduced in 2023. These changes to the Alojamento Local (AL) laws are designed to provide a more stable and flexible environment for property owners, especially those renting out...
Yes, it's possible to buy real estate with cryptocurrency in Portugal! While still a relatively new phenomenon, purchasing property with crypto is gaining traction in Portugal, particularly in regions like the Algarve. This presents a unique opportunity for forward-thinking buyers and sellers. How it Works: Portugal has a crypto-friendly regulatory environment. Although there are no specific laws...
Are you under 35 and dreaming of owning your own home in Portugal? Now is the time to make that dream a reality! Thanks to a new law, eligible young buyers are exempt from paying IMT (Municipal Property Transfer Tax) and stamp duty on their first property purchase. This translates to significant savings, making homeownership more accessible than ever before. What does the law...
A recent decree approved by the Portuguese government is set to significantly change the country's short-term rental regulations, reversing some of the stricter measures introduced by the previous Socialist administration. The previous government's "More Housing" package had granted condominium residents a veto power over short-term rentals within their buildings, requiring a two-thirds majority vote...
Earlier this year, António Costa's Socialist Government decided to end the Non-Habitual Residents (NHR) status, created in 2009. Later, they opted for a transitional process that benefited those who had already begun making Portugal their home. In early April 2024, the new government under Luís Montenegro took office and decided to reactivate the Non-Habitual Residents (NHR) program, albeit with new...
The latest Portuguese government, led by Prime Minister Luís Montenegro, took office on April 2, 2024. This government presents a plan called Construir Portugal, which includes 30 measures aimed at reformulating the housing sector in the country to address one of Portugal's greatest deficiencies. This strategy has come into effect in recent days and aims to encourage housing supply, with a special...
Portugal's allure extends beyond its stunning beaches and vibrant culture; it also offers attractive visa options for those seeking to relocate or invest. As a realtor in Lagos, Algarve, I'm often asked about the different pathways to residency in Portugal. This article aims to shed light on the most popular visa possibilities, providing you with valuable insights and resources. Golden Visa The...
Buying a house without presenting the usage licence to use (licença de utilização) is one of the 2024 real estate market innovations, part of the Portuguese Urbanistic Simplex measures. Recent regulations in Portuguese legislation aim to increase housing supply, reduce costs, and streamline transactions. This is the Portuguese Urbanism Simplex, in effect since the beginning of 2024. On January 4,...
The new Alojamento Local rules came into effect on the 7th of October 2023 one day after their publication. But what do the new rules on Local Lodging in Portugal entail? We clarify everything in this article, shedding light on the changes and impacts resulting from the new regulations. The main changes in the Alojamento Local sector in Portugal concern the suspension of the granting of new licences,...
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