The Spanish pensioners are joining the French, Germans, Swedish and Finns in retiring in Portugal and taking advantage of Portugal’s Non-Habitual Resident tax regime.
Apr 3, 2019 Economy
Spanish pensioners move to Portugal for tax benefits. The spanish newspaper says the “people are hospitable,” the “cities are attractive,” it highlights Lisbon, Porto and Braga and mentions the “vast rural landscape,” “healthy diet” and “wild unspoilt coastlines”. ABC states that interest from British citizens has also picked up over Brexit uncertainties with the Lisbon and Porto regions attracting most applications for the NHR regime as well as the Algarve and Madeira. Retired Spanish over 65 group are opting to move to Portugal to avoid paying higher taxes in their own country. ABC states the moving to Portugal means saving thousands of euros in tax payments.
Portugal first choice for US, French and Italian home buyers
Mar 6, 2019 Economy
Portugal was the country of choice for US, French and Italian nationals looking to buy a retirement or second home in Europe in 2018. According to a study produced by ListGlobally, the largest online property platform in the world for house seekers, Portugal was the number one property investment destination for the French (34%), Americans (5.68%) and Italians (6.04%). In 2018 the intention to buy from overseas citizens was centred mainly around Faro (22%), Lisbon (11%) and Setúbal (8%). Théo Plantier, who focuses on the Portuguese market for ListGlobally states that “Portugal is a very attractive country because despite an across-the-board rise in house prices per square metre, it is still one of the cheapest countries in Europe to buy a house, representing 20% of all of house sales.
Real estate transactions at maximum since nine years
Nov 6, 2018 Economy
Real estate transactions in Portugal increased 13.5% to 226,617 in 2017 compared to the previous year, and the associated investment rose 33.5% to 24.3 billion euros, to highs since 2008, data released today 06 / 11/18 from the Association of Professionals and Real Estate Mediation Companies - APEMIP. According to APEMIP "The total amount and value of real estate transactions in Portugal in 2017 is the highest value since 2008, when 241,040 properties were sold in the amount of 24.4 billion euros. From that year until 2012, the sector registered successive decreases, starting to recover in 2013. With regard to transaction values, it was the Lisbon Metropolitan Area that concentrated the highest investment value (more than 12 billion euros , 49.8% of the total), followed by the North region (with 4.9 billion euros or 20.3%) and Algarve (with 2.9 billion euros or 11.9%).
Algarve will have tourist tax of 1.5 euros between March and October 2019
Oct 1, 2018 Economy
AMAL approves bases for the introduction of a tourist tax in the Algarve, in the value of 1.5 euros, from March to October, and only in the first seven days of stay ... Children up to 12 years old are exempt from payment. Each municipality must now approve, at the municipal assembly, its tourist tax regulation, which, according to AMAL's proposal, should come into force, from the 1st of March 2019.
Bank of Portugal Unveils New €5 Bank notes
May 5, 2013 Economy
The Bank of Portugal last week unveiled the new five-euro note which began circulating in the Euro Zone last week. The fiver is the first of a new series of banknotes for the single currency, dubbed "Europa." The new notes are similar in color and design to the first set, but are considered much more difficult to counterfeit. The new Europa series will be introduced gradually over coming years, with the next new note, the €10 note, expected to begin circulation in 2014