Financial advice in Portugal

The real estate market has experienced another moment that has made history Portugal. The first house sold entirely in cryptocurrency happened on Thursday 5th May 2022. It is a 3 bedroom flat in Braga that was bought for three bitcoins, the equivalent of about 110,000 euros.

Euribor rates are part of the lingo that must be known by anyone who has or is going to apply for a mortgage in Portugal.

Portugal is among the countries in Europe that invest the most in cryptocurrencies, according to a study by XTB. In addition, it is among the states with the highest rate of women who invest money in this type of product. Ethereum leads the transactions, followed by Bitcoin.

The armed conflict between Russia and Ukraine has reignited the debate on the regulation of golden visas in Europe.

In January and February 2022, the investment amount obtained through golden visas in Madeira was around 2 million euros. In total, four Golden Visas, officially known as Residence Permits for Investment Activity (ARI), were granted in the autonomous region.

If you live in Portugal, then it's time to start thinking about submitting your 2022 IRS Income Tax return.

Compensating the rise in prices of the real estate market is one of the priorities of the Regional Government of Madeira.

House prices continue to rise faster than wages in most of the 38 countries of the Organisation for Economic Cooperation and Development (OECD). And Portugal comes in fifth place on this list, with house prices surpassing salaries by almost 40%.

The real estate market proved its resilience during the pandemic, and should continue to remain dynamic and evolve positively, according to industry experts. For Jorge Bota, Partner at B.

A rise in interest rates on mortgages is a scenario that is on the table, and the European Central Bank (ECB) has already admitted the possibility of increasing the key interest rate in 2022.

Building a house is, for many, a life-long aspiration. Due to the pandemic, more families are now looking to swap city flats for villas in the suburbs and settle down with more space and peace of mind.

Buying property to put on the rental market is a viable investment option, but does it pay off in Portugal?

The "appetite" for acquiring land and development assets in Portugal is growing and approaching pre-Covid levels, including both national and international players, projects in various segments and with various scales, "based on a high demand from end users".

Portuguese real estate is "lively", even in times of pandemic. That is according to Frederico Abecassis, CEO of Coldwell Banker Portugal. Domestic demand has contributed to the strength of the market, but so have foreign families who want to come to live in Portugal.

Sustainability is increasingly becoming a watchword in the world today, and the same can be said for the real estate sector.

The energy efficiency of buildings is a topic that is increasingly on the agenda in Portugal.

When you think of the real estate sector you probably think of houses and apartments, but this important sector of the economy does not only comprise the residential segment.

Rental housing is a market that is staying buoyant, even in pandemic times. More and more families are renting their homes in Portugal. The price of houses for rent is showing signs of growth. Rental subsidies continue at a good pace, although they do not reach all families.

The cold continues to enter Portuguese homes. The lack of efficient homes in Portugal is a blatant issue and improving the energy performance of buildings is, today, a top priority both in Portugal and abroad.

Buying a property in Portugal - be it a flat, a house, a farm, or a plot of land - is a rather complex process and implies compliance with several legal requirements.

Foreign investors will find it more difficult to obtain a gold visa as of January 2022, as the Portuguese government has put a brake on this regime. However, as the end of the current regime of rules and regulations for these visas approaches, interest has only grown in this opportunity.

The property market in Portugal is recovering the growth trajectory it was on before the Covid-19 pandemic, a strengthening driven in a large part by the recovery of investor confidence.

"House prices have grown faster than salaries in more than half of the 35 countries" that make up the Organisation for Economic Co-operation and Development (OECD), highlights the International Monetary Fund (IMF).

New housing construction costs rose 7.1% in September, year-on-year.

If you live in Portugal, whether full time as an ex-pat, or only part of the year in a second home, you will be accostumed to the low costs of living here. For the most part if you have your rent or mortgage payments under control, the rest is pretty manageable.