In the extract below, taken from the latest newsletter from the National Association of Local Lodging Establishements, NALLE, its author Dennis Swing Green looks at Capital Gains Tax and the allocation of an asset.
The same members' newsletter looks at the distinction between local lodgings and residential lettings, where local lodging income is taxable, compliance in the light of more changes in the regulations and the simplified tax regime.
Visitors to the Algarve are used to its golden sands and golden sunsets, but now Portugal's most popular holiday destination is tempting tourists with another kind of gold altogether.
To celebrate 50 years since the opening of the Algarve's first golf course (the Henry Cotton-designed Penina, in 1966), from June 2016 the region's top courses will feature commemorative golden tee markers. Each visiting golfer will be given the opportunity to play from the specially commissioned golden tees as part of the summer's celebrations of the role of golf in Portugal's tourism heritage.
Investors are still confident in the UAE property market, reveals TheMoveChannel.com's latest Top of the Props report. The UAE entered the Top 10 destinations in the property portal's monthly chart in April 2016 for the second time this year.
• UAE in top 10 destinations for second time this year
• Dominican Republic 9th most popular country in April
• USA remains number one destination
• Portugal overtakes Spain as 2nd most popular
Did you know that the rental season in the Algarve is predicted to be sensational in 2016? What about investing in a property with great rental yield just before the Summer?
See our choice below!
This May we'd like to showcase a few of our luxury Algarve properties for sale, all situated in Central Algarve.
For more information regarding these, or any other of our properties please contact us at info@eavillas.com.
Tourism is performing well in Portugal at present with total overnight guests increasing by 8% to 17.4 million in 2015 according to Portugal's Institute of National Statistics. The UK saw a 16.7% increase in visitors taking their total to 22.2% last year. This spells good news for property owners looking to let their homes in the sun out to holiday makers and secure a solid rental return in return.
Indeed according to Global Property Guide data from the end of 2015, average rental yields across Portugal stand at a strong 6.1% ranking the Iberian national 7th out of 35 countries worldwide with yields the greatest in the Capital Lisbon. Their figures also confirm that apartments are currently showing greater yield increases over houses or villas.
Now that the global property market is picking up, more UK buyers are looking to purchase overseas for investment and retirement purposes.
Prices in countries such as Spain are at rock bottom at the moment and there are some bargains to be had, particularly in the more rural areas where prices were already lower than coastal properties.
Rural properties are appealing to people who do not want to take part in city life, as a home in the country is perceived to offer a better quality of life and provide a less stressful environment to work and live in. Prices can also be lower, making it a more affordable option.
But there are many potential pitfalls if you do not carefully consider any purchase, so make sure you do not get caught out by the different rules and regulations.
House prices grew by 3.8% on average in the EU last year and the construction volume increased by 0.8%. These positive figures show that European residential property is now truly on its way to recovery.
The recovery stage of the property market cycle is the most favourable time to buy a new home as prices have reached their lowest point and are just starting to grow again.
