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Portuguese properties

Portuguese properties

Old Nov 1st 2020, 7:51 pm
  #46  
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Default Re: Portuguese properties

Originally Posted by suiko View Post
Can't see prices going down much in the Algarve personally, as there seems to be just so much demand.
I have kept my property search filters at the same for over a year and find there are many more Algarve properties being listed in my price bracket now than before.(Thats an independant view as I am looking to buy in central Portugal not Algarve).
I have a hunch that next spring the popular British tourist areas such as the the Algarve and Spanish costas could see a considerable price drop when people living there realise the 90 day registration rule which will hit hard on April 1st.
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Old Nov 2nd 2020, 7:50 am
  #47  
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Default Re: Portuguese properties

But wont it be possible for a non resident to extend the 90 day Schengen area rule, by a further 90 days??
A visit to an SEF office would be necessary and private health would be needed for the duration of stay as well.
(I am trying to get an appointment to discuss this very question with local SEF office so far without success as they dont answer the phone.)
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Old Nov 2nd 2020, 8:19 am
  #48  
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Default Re: Portuguese properties

Originally Posted by atlasthemonk View Post
I have kept my property search filters at the same for over a year and find there are many more Algarve properties being listed in my price bracket now than before.(Thats an independant view as I am looking to buy in central Portugal not Algarve).
I have a hunch that next spring the popular British tourist areas such as the the Algarve and Spanish costas could see a considerable price drop when people living there realise the 90 day registration rule which will hit hard on April 1st.
Having been househunting in the Algarve for the last couple of months, I have to say I don't agree with this assessment. Brits just aren't that important, at least outside their Central Algarve ghetto/enclave - the main group driving the market in general seems to be the French, with their tax incentive for buying a second home. Demand seems to be almost inexhaustible. I think there's only one way prices are going in the Algarve, though there may well be a hiatus for the next year or so as the crisis hits.
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Old Nov 2nd 2020, 8:40 am
  #49  
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Default Re: Portuguese properties

Certainly in my area (central Algarve) its the French that are buying big time, and not only buying many choosing to build from scratch.
I was talking with an agency tother day, who pester me weekly for them to sell my gaff. They have few properties for sale and are desperate for properties. They confirmed that Brits are almost not existence now and the French are the big buyers, but this has been the case really for 4 years. I remember, say, 6 years or before, you would never see a French car in the Algarve, but then each year in winter more and more French vehicles were evident. But of course there is a limit to how high prices can go, outside of the main Golden Visa area of Lisbon.
Banks are being inundated with ECB money, but how long that can go on is hard to know, what with costs of Covid and Brexit.
So a lot of factors to take into account, none of which we are in control of. But I must say that IMO prices have now plateaued and likely to stay unchanged for a while. But I think its really property dependant, flats are now very expensive. I know one flat in particular that I could have bought n 2016 for €130K, its now on the market for €185K, a 40% increase.
But that is no more than lots of areas in the UK.
In 2021 I would not even attempt to make a guess on up or down.
Any Brits thinking about selling ought to be more aware of the exchange rate than actual selling price, but that too is difficult to attempt to guess.
IMO that its unlikely to drop lower than where it is now.
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Old Nov 2nd 2020, 9:00 am
  #50  
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Default Re: Portuguese properties

Originally Posted by suiko View Post
Having been househunting in the Algarve for the last couple of months, I have to say I don't agree with this assessment. Brits just aren't that important, at least outside their Central Algarve ghetto/enclave - the main group driving the market in general seems to be the French, with their tax incentive for buying a second home. Demand seems to be almost inexhaustible. I think there's only one way prices are going in the Algarve, though there may well be a hiatus for the next year or so as the crisis hits.
I wouldn't say that Brits aren't important and the population is the same as France. According to stats from 2018, British were 2nd after French.In 2018, 19,912 homes were sold to non-residents in Portugal, 14.5% more than last year. In global terms, sales to foreigners represent 8.2% of the total purchases made last year (242,091 properties). This is official data collected by the Office of Studies of the Association of Portuguese Real Estate Professionals and Agencies (APEMIP).

According to the same source, total acquisitions from non-residents represented an investment of more than 3,400 million euros, 13% of the total value of property sales in 2018 in Portugal.

The French were the greatest buyers in Portugal in 2018, representing 28.2% of total sales to non-residents. It is followed in the top five by the British (14.9%), Swiss (7.7%), Germans (6%) and Brazilians (4.9%).

"Foreign investment continues to be very important in the domestic real estate scene. More and more transactions are carried out without resorting to any investment attraction program (such as golden visas or the Tax Regime for Non-Habitual Residents), but they are still very relevant, especially when we talk about the competitive advantages of investing in Portugal," states Luis Lima, president of APEMIP in a statement.
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Old Nov 2nd 2020, 12:27 pm
  #51  
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Default Re: Portuguese properties

Mostly French buyers in our area of the Eastern Algarve. Our lawyer said most of her foreign clients are French, followed by Italian and Swedish but the British clients are dwindling in numbers with many having returned to the UK.
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Old Nov 2nd 2020, 1:13 pm
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Default Re: Portuguese properties

Even before the French tax incentives there was a lot of French presence / language spoke in the Algarve left over from the war when many thousands of French, who didn't want to stay and defend their country, escaped to non involved Portugal.
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Old Nov 2nd 2020, 2:12 pm
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Default Re: Portuguese properties

Originally Posted by Lou71 View Post
Mostly French buyers in our area of the Eastern Algarve. Our lawyer said most of her foreign clients are French, followed by Italian and Swedish but the British clients are dwindling in numbers with many having returned to the UK.
But you have to also look at second home buyers and not those returning home + probably not the only lawyer in Portugal. Sweden is always on the list but still only around 6% and tiny compared to UK.
The figures in Spain are similar and again it's the French, Germans and Brits mainly buying.
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Old Nov 3rd 2020, 9:15 am
  #54  
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Default Re: Portuguese properties

Where I am we have a lot of Germans; followed by Lisbonites moving to the country or buying second homes for investment or personal use.
Lisbon is less than 3 hours from here, making weekending possible.
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Old Nov 3rd 2020, 10:07 am
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Default Re: Portuguese properties

Here is actually another interesting article https://www.idealista.pt/en/news/pro...-eu-during-the


https://www.idealista.pt/en/news/pro...the-portugueseThe USA currently stands out as the most active country in the search for beach properties in Portugal, with the Azores archipelago and the Western area of mainland Portugal as the preferred destinations. Based on idealista data and with the help of our interactive map, it's time to have a look at the property search trends in Portugal, analysing 422 parishes on the Portuguese coast with one objective: to find out where foreigners most like to buy and rent property in mainland Portugal and on the Portuguese islands.

"Portugal continues to attract a lot of interest from foreigners. The active international demand is evident, even with the limitations imposed by COVID-19, in relation to mobility, and it is very interesting to understand the evolution of international market demand in each parish or neighbourhood of Portugal.
To complete this study, we have taken the IP location from where the visits to idealista listings for sale or rent have been made as a reference. Therefore, it is not exclusively the nationality of the users but the country where the visitor is located.

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Old Nov 3rd 2020, 12:23 pm
  #56  
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Default Re: Portuguese properties

Interesting map!

I think a lot (maybe the vast majority?) of the French flags in centre and north are likely to be from Portuguese migrants who have been resident in France for many years. A further complication!
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Old Nov 3rd 2020, 12:52 pm
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Default Re: Portuguese properties

Originally Posted by suiko View Post
Interesting map!

I think a lot (maybe the vast majority?) of the French flags in centre and north are likely to be from Portuguese migrants who have been resident in France for many years. A further complication!
Yes agree and I don't know exact figures but it seems around 1.7 million people in France have Portuguese heritage. So it would surprise me if the people are really French and in general the French seem to prefer France. In our part of Spain you have many French buyers too but that's because it's just across the border and prices are cheaper than Cote d'Azur with the added benefit that Catalan is easier to understand.

Last edited by Moses2013; Nov 3rd 2020 at 12:57 pm.
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Old Nov 3rd 2020, 1:01 pm
  #58  
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Default Re: Portuguese properties

There are thousands of French in the Algarve and that's pretty obvious. Elsewhere I would surmise it's a very different story!
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