Where to buy in Portugal?

[estate]

If buying properties in Portugal is it better to form a company in Portugal or UK?

[abelhas]

a very good question, which I don't have answers for.
I am inclined to ask, 'if buying property in portugal as investment, and as a company, do you HAVE to set up a portuguese company' and if not, and it is possible as a UK company, how does this work with tax?

i've been inclined to think that companies operating on portuguese soil either have to be portuguese companies, or the uk company has to pay portuguese tax on profits generated in portugal.

but, i'd guess that nothing is simple. european law probably says one thing while UK and portuguese law probably says two other things

but i'd very much like to find out more - if anyone here has the answer?

[portugalweb]

central region and silver coast are good choices.

[OwnerInvest]

Sesimbra Bay is an up and coming area and we have a development there, if you wish to read about that, click the following link

http://www.propertycommunity.com/forum/portu...-portugal.html

Sesimbra Bay is 30 minutes from Faro airport

I am trying to get answers regarding the companies and Portugal Properties from our team in the UK, if I have a sensible answer for you, I will let you know

[OwnerInvest]

Buying a property in any country is a complicated process. Purchasing a property in a country where you do not understand the logistics is even more complicated! Or can appear to be, due to language barriers and a lack of knowledge of the area.

We are more familiar with buying property in our own country as rules and regulations tend to appear more straight forward. However, is buying a property in your home country really less complex than buying abroad?

A foreigner buying a property in the UK would find the process just as complicated and confusing as you find the process of buying a property in, Portugal or Spain, for example.

Below are some key points to buying Portugal property

Not all of us suit foreign real estate purchases but for many it is a huge lifestyle benefit, such as a lower cost of living, better social circles and so on, tax benefits and so on.

According to MINTEL there are just under 1 million British households that own overseas property!

Generally speaking, the way you purchase portuguese property is different to how you would purchase UK property.

Ensure all the appropriate checks are carried out and then you have no further need to worry, no more so than you would at home.

Do take legal advice and don't be so casual about the whole property purchasing while abroad, a lawyer may cost a few quid extra but all the checks that your lawyer would carry out for you could save you a lot of headaches later, they can check the legalities of the property purchase, does it exist, does it have planning permission etc.

The Notary
(Notario) will play a mjor part in your real estate purchase, these are officials who place your purchase on the public record, they record the sale/purchase and you are required to sign this while with the notary, all parties involved will also be present.

The notary can act on behalf of the buyer and the seller and also carries out a number of checks regarding the property in question.

When purchasing your property in Portugal remember to allocate the correct ownership, if you get this wrong, it could be the most expensive mistake you make! You do not want unnecessary tax bills during your lifetime or in the event of your death where inheritance tax comes into play, getting this part right is the most crucial, seek advice if necessary.

You have many options of who could be made the legal owner of the property, or you could allocate shareholders with a company. The best choice regarding this does not always stare you straight in the face.

You could purchase your Portugal property in various ways:
1) Your own name
2) Your name and a co-purchaser(s)
3) Children's names or the name of the person you wish to inherit the property
4) Ltd company, English, Portuguese, off-shore
5) SIPP (self invested personal pension fund)
6) Investment fund
7) Investment club
8) Trust fund

All of the above have advantages and disadvantages, we can advise which would be the most appropriate for you

If you have any further questions regarding this subject, let me know, either on the board or privately

Currently we assist clients with buying overseas property using their SIPP, it is very popular at the moment

[aLGARVE18]

Originally Posted by frediokl

I'm currently renting a place in the Algarve and am thinking of buying somewhere in Portugal. But at the moment I am not convinced the Algarve is the place to buy. I can't see there being much capital apperciation, its already too expensive and with all the building going on I'm sure the supply is going to outstrip demand. I remember the days when it was impossible to find a place to stay here in August, now its not a problem at all. The days of full occupancy are gone!

Can anyone suggest any other areas in Portugal I should be looking. I know all the talk has been about the silver coast but I am considering Espinho. Its still relativly cheap, about 120K euros for a 3 bed apartment, and with ryanair flying to Porto I think prices should rise as the Brits discover it.

Does anyone know what the long term rental market is like in that area. The plan would be to rent out the property and use the income to pay my rent here in the Algarve. Maybe even leverage it and use the rent to pay a mortgage on a one bed place here. Two for the price of one!

Whilst Porto is a beautiful area if you want the warm weather all year forget it , the Algarve has a microclimate and if you compare monthly climate statistics on the web e.g. January average Braganca (North) 8ºC and Faro (South) 16ºC. Have you considered inland Monchique where at the moment there are still some cheap properties to be had. No fear of overdevelopment either as the planning regulations are strict there so there will never be a surplus of properties for sale making any investment in the area a good buy although I believe prices will increase in the future as it becomes more popular. The rental market certainly is good as there are a number of people wanting to be near everything thats going on in the Algarve but being able to return to the peace of the countryside and enjoying the real Portugal.

[RichardMYP]

If you find a cheap property, anywhere, look for the reason. The Algarve is still the best place to buy, it's an open destination with worldwide popularity and geared up for holiday makers, its popularity is what fuels the property market and we here in our internet property agency we are beginning to notice an upswing in enquiries. Now is the time to buy as surely property values will begin to improve once confidence returns to the market.

[villasluz]

Hi there,

I continue thinking that the best property investment regions in Portugal are still the Silver Coast, Lisbon Coast and Central Portugal, though we have also a real estate agency in Algarve.

The prices are still very affordable and the climate is excellent - not comparable with the Algarve (at least during July and August), as the maximum temperatures will never go up to the level of the Algarve.

Most of our clients prefer the Silver Coast etc. due to te fact that you have mild winters, beautiful spring and autumn weather and a moderate temperature in the summer. The restaurants are excellent and cheaper than in Algarve and the offer of activities is very large.

But, if you are looking for very high temperatures and a warm ocean, there is nothing comparable to the Algarve.

Antonio

[Stefan]

Much of what you say is true and also what other persons here says. This is for me a question of "personal point of views". No matter how much we discuss this it will always come down to "what are the buyer looking for?" When we say "the best investment" it is not about what part of Portugal (or anywhere else in Europe) you choose, it is property+price that will make it to a good or a less good investment. The trick is of course to know, what is the right price?

If we talk about other issues like climate, temperature in the ocean, facilities etc that is strictly personal oppinions and up to what the client looks for in his/hers home/holiday home.

Marketing in all respect and to promote the area we are working in that is our job, but if it is better or worse that other areas is totally up to the one who finally make the investment.

Some of the points I have when it comes to the Algarve contra Northern Portugal:

The climate - which is (for me) superior to the Northern part of Portugal (Winter time especially), I have family up there and it is my personal oppinion cause I like less rain and warmer climate. The Summers in Algarve can be hot, but not as hot as in Spain, the evenings are allways fresh (thanks to the Atlantic).

The Sea - When I am up in the Northern part (Silver coast), usually there are not many people in the sea and I understand why (exept Surfers). Here in the Algarve we have a longer season and the temperature is ok. There are other issues with bathing in the sea up there as well, but we do not need to go in on that.

Living Prices - is equal and can be more expensive in the Lisbon coast, on the Silver Coast or on the Algarve Coast, depending where you go. The experience I have is that if I go 10-15 minutes drive from the coast I have easier to find lower prices in the Algarve than for example Lisbon Coast. Loulé in Algarve you can find very good Restaurants and have a meal for two persons including wine for approx 24 Euros, that is not expensive. (personal oppinon).

Prices on properties: If only comparing property to property, you get more for your money in teh Silver Coast, but if it is a good investment or not, that can only the future tell. All will depends on how the market will continue developing, how many Hotels there will be built and of course what people will like in the future? Will they be prepered to pay the same price on the SIlver Coast as in the Algarve? One of the main reasons till why they do good selling up there is cause of the low prices compared to Algarve (personal oppinion).

Facilities - Here I would definitly put Lisbon Coast on the top, cause of all the things it has to offer. Algarve and teh Silver Coast is not much more than Golf, Water Parks and the Beach. (Have to admit that the Winyards up there is interesteing, but we also have Alentejo down here).

Availability - If it is from UK or Ireland the Algarve has very good connections, with many flights and airports to choose from. I think Algarve loose a bit if we look on other countries, especially the Scandinavian countries that has better connection to Lisbon than Faro (direct)

There are probably much more to say and many will have other oppions, but that wil only prove that this is what it comes down to in the end when choosing a property "personal oppinion"

Now it is just to convince people that this is the right time to buy no matter where they feel more "home"

Cheers

Stefan

Originally Posted by villasluz

Hi there,

I continue thinking that the best property investment regions in Portugal are still the Silver Coast, Lisbon Coast and Central Portugal, though we have also a real estate agency in Algarve.

The prices are still very affordable and the climate is excellent - not comparable with the Algarve (at least during July and August), as the maximum temperatures will never go up to the level of the Algarve.

Most of our clients prefer the Silver Coast etc. due to te fact that you have mild winters, beautiful spring and autumn weather and a moderate temperature in the summer. The restaurants are excellent and cheaper than in Algarve and the offer of activities is very large.

But, if you are looking for very high temperatures and a warm ocean, there is nothing comparable to the Algarve.

Antonio

[sunnytimes]

Hi Everyone,
We recently bought an apartment (off plan) in this beautiful village, it's not ready until early next year. I was just wondering about furniture and stuff etc. Does anyone else have a place in this village?
Rosie