Property & Mortgage

  • Portugal’s Housing Prices up by 8%
    Portugal’s Housing Prices up by 8%

    Reports shown by Portugal’s statistics institute INE (Instituto Nacional de Estatísca) reveal that housing prices in Portugal have seen the highest increase ever recorded, stating the House Price Index (HPI) increased 8% in the second quarter of  2017 alone, double the European average. According to the INE, a total of 36,886 dwellings were transacted between April and June 2017, 16.1% more than in the same period of the previous year. The prices of new dwellings showed a year on year difference of 5.4%, 1.2 percentage points (p.p) above what was recorded in the previous quarter. Making this the second consecutive period in which the transaction prices for new dwellings increased.   This increase is considered to be, in part, due to the decrease in unemployment rates across Portugal that fell to 8.5%. Programs such as the Golden Visa, Non-Habitual Residency and Sephardic Jewish Ancestry Program, promulgated by the government to attract foreign direct investment, have also contributed towards stabilising the economy. With the government's effort to stabilise the economy, the quality of life and portugal’s peaceful history.   RICS chief economist, Simon Rubinsohn, believes the outlook is positive. ‘Employment growth has accelerated across the Portuguese economy in recent months, with the latest figures showing an annual increase in excess of 3%. This sustained improvement continues to support housing market activity and prospects for further growth over the year ahead look promising given the current macro climate,’ he said.   Lisbon was not the only city to see a boom in foreign investment, the Algarve in Southern Portugal, has also seen an increase as the mean purchase price for villas has risen substantially to €400-€500 thousand.   With Portugal’s quality of life, peaceful history and their government making efforts to stabilise the economy, Portugal is becoming progressively more and more enticing to foreigners looking to retire, invest or relocate.

  • The World's Oldest Diplomatic Alliance
    The World's Oldest Diplomatic Alliance

    Both countries are actively working together to find mutual ground, which will ultimately be beneficial for all parties involved. The Portuguese government have already proven their ability to be able to take part in global co-operation as they have developed multiple opportunities for foreigners to have a better quality of life. Rather than shutting down on immigration, Portugal have found a way to open the doors to their homeland via the Golden Visa, Non-Habitual Residency and Sephardic Jewish Ancestry, gaining a remarkable response from young entrepreneurs, the startup movement as well as the creative and tech sectors.   The UK ambassador to Portugal, Kirsty Hayes, has recently spoken out in interviews regarding the ties that binds the two allies:   “Between Portugal and the UK, we have the oldest economic alliance in the world, so regardless of what happens this will continue. We also have so many connections, personally, professionally and we share many similar values. I am also encouraged by the words of the (Portuguese) Prime Minister and the President of the Republic, and expect to work closely together over the next years to find a base for our relations whether they be within the EU or bilaterally.”   Winston Churchill famously said  “Those that fail to learn from history, are doomed to repeat it”, but in this case, would it be so bad? The Portuguese and British have paved their way through history side by side, witnessing both their accomplishments and failures, making the alliance stronger every year that passes by. At times like this, things will eventually smooth over and both sides will be prepared for anything the future shall bring.

  • Multi-Award Winner of the International Property Awards
    Multi-Award Winner of the International Property Awards

    Ideal Homes Portugal, a real estate agency situated in Southern Portugal, Algarve, were recently awarded two International Property Awards in the categories of Residential Development for Apple Tree Lane, which was the company’s first development project, and Real Estate Agency, Portugal.   Founded by Christopher White, Ideal Homes Portugal, was established back in 2012 with a vision to provide the real estate market with something important that he felt was currently missing - service excellence. Five years later the company and its vision has grown to include aftersales, property and rentals management, mortgage brokerage and most recently, building its own residential development projects.      Just last week Chris and Eddie Correia, Ideal Homes Head of IT and Marketing, attended the winners ceremony and gala reception. The International Property Awards are currently on their 26th year and are judged by an independent panel of 70 industry experts, with judging focusing on quality, service, design, innovation, commitment to sustainability and originality. This year The European Property Awards, which is the most influential and widely recognised programme throughout the region, was held in London to honour the best in the industry globally. Over 200 real estate professionals attended the event to receive awards in their respective categories.   Chris White, CEO & Founder, had a few words to say about the achievement;   'It's a proud moment, being a multi-award winner of the International Property Awards. This recognition for our hard work is inspiring and further excites us about the future, what we’re developing and bringing to market.'  

  • Portugal's High Net Worth Appeal
    Portugal's High Net Worth Appeal

    Portugal is fast becoming the place to be in Europe, their housing prices are on the up, the quality of life is fantastic, along with the financial incentives that are being offered have made purchasing, or investing, in the country an attractive prospect for elite and luxury buyers.   Plans to build a future that guards against the past economic vulnerabilities are proving to be a success, showing that the incentives designed by the government for inward investments through their Golden Visas, Non-Habitual Residency and Sephardic Jewish Ancestry programs, are not only for the everyday man but for high networth individuals as well.   Multiple high networth individuals and celebrities are already reaping the benefits that Portugal has to offer, with many people residing in Lisbon, Cascais, Sintra and even the Algarve, which has been considered the new “St Tropez”. The luxurious resort of Quinta do Lago, situated in the Southern Algarve, houses some of the most extravagant homes available within the Algarve, whilst being surrounded by not just one, but three award winning golf courses. It is easy to see why people are investing in the area.   If you’re wondering what these successful individuals know about Portugal that you could benefit from - get in touch.