Euro QE will boost Algarve property market
ECB announces €1 tn. in quantitative easing
Euro zone policy makers dance to German tune
Cheaper euro will also help Algarve property sales to Brits
All indicators now solidly behind a market recovery
Tag Archives: Algarve property market
10 reasons why NOW is the best time in a generation to buy Algarve real estate
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:
Portuguese Golden Visa scheme delivering decisive market stimulus
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.
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Portuguese energy efficiency certification welcome but process flawed
The Portuguese law changed in August 2013 such that all properties being advertised for sale must have a valid Energy Efficiency Certificate. Otherwise owners can be fined from €250 to €3,740, while estate agencies advertising uncertified properties can be fined from €2,500 to €44,890.
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.
Top 10 reasons to relocate to Portugal’s Western Algarve
1. Climate
3,000 hours of sunshine per year, cooling ocean breezes to moderate the summer heat, and seasonal rainfall all contribute to a great climate. No wonder Andalusians have been snapping up holiday homes in the area!
Census 2011: the Algarve population has grown by 55,000 in 10 Years
Census 2011: the Algarve population has grown by 55,000 in the past 10 years while depopulation of the interior continues.
According to the preliminary results of the 2011 census, the Algarve and Madeira are the two regions of Portugal showing the largest increase in population over the past decade.
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.
AlmaVerde at the Buying Homes Abroad Show in Stockholm
Event date: 19 -20 September
In past years, the market for Algarve leisure real estate has been propelled by the British and Irish, but the recent demise of sterling and the plight of the Irish economy have prompted developers to start looking in other directions.
Scandinavians have not been buying Algarve property in numbers, but there is anecdotal evidence that they are now becoming more active. There are now flights to Faro on Norwegian Air Shuttle from the capital cities of Oslo, Stockholm and Copenhagen, and Scandinavian currencies have remained relatively firm against the euro.