Sale of a busy Commercial Premises in Albufeira, Algarve – next to a shopping centre - a sound business opportunity.
Situated in a prime and busy area close to the centre of Albufeira, and benefiting from a high footfall from the adjacent shopping centre with a Modelo supermarket and other businesses, this commercial premises has been totally refurbished and is offered for sale at a realistic price.
During the noughties investors were buying and selling a rate of knots. Many made a killing with prices moving on average 10% every 6 months. This came to an abrupt end in 2008 when the crash happened.
The builders started to offload stock in an attempt to clear as much debt as possible and some investors took advantage of this.
Unfortunately even some of those seasoned investors did not expect what happened between 2009 and 2011. Further drops, reaching as low as 40% below 2007, prices meant that those late investors got seriously burnt along with some of the more seasoned ones from earlier investments.
This villa was featured, and purchased, during the 2009/2010 “Place in the Sun” television series on Channel 4 in the UK. Now, for sale once again, this delightful, bright and spacious 3-bedroom linked-villa is in a tranquil cul-de-sac within a quintessentially Portuguese village.
Between 10% and 33% of Europe’s population would like to retire abroad. With Europe’s retiree population nearing 100 million, a large number of 50+ want to retire to warm, sunny locations.
For the majority of those who move overseas, purchasing a property has been the predominant solution. Now, a flexible retirement and long-stay rental solution for the 50+ market is also available in the Algarve, making it easy for those who wish to retire abroad, to spend winters in the sun, or to experience life in this part of the world before committing to a property purchase.
The temperature is 27 degrees and, as per usual, the sun is out !! Reassuringly, this year is proving to be a continuance of the improvements made last year in terms of property sales here in the Algarve.
Yellowhomes Land and Houses Algarve have had many different nationalities of buyers this year including Germans, British, Irish, French, Dutch, Swedish and even Canadian, all of whom managed to purchase their ideal home in the sun.
Below is a response from euroFINESCO to an article by Sovereign, 'Tax Issues when Renting out your Property' which can be found at:
http://www.algarvedailynews.com/property-news/2868-tax-issues-when-renting-out-your-property
euroFINESCO, "It should not come as a surprise that how income is declared is not a personal preference but rather a matter of law.
Several illegal building licences issued in the Silves council area, when Isabel Soares was mayor, have been identified by the Inspector General of Local Administration and are forming part of a wide ranging investigation into the council’s processes and activities when supposedly serving those who wished to fulfill their dreams of building their own home.
The new Plano Diretor Municipal, or PDM, for Silves was promised for mid-2013 but a year later it still is held up as planning procedures that were not followed, which resulted in the issuing of illegal licences, are being investigated.
Property Rental Income Tax Declarations - what you need to know
By law, if your Portuguese property is rented out, you must declare the rent via a tax return submitted in Portugal, even if the funds are administered and received outside Portugal.
