a guide to finding and buying a property in the algarve€¦ · a guide to finding and buying a...
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A guide to finding and buying a property in the Algarve
Claudia Boto – Vernon Real estate
Who are we?- Founded in the 1980’s
- Based in Carvoeiro
- Continued management/ ownership
- Diverse listings
- Highly qualified mulitlingualteam
Claudia Boto
Portugal• Mild Climate
• 3000 hours of sunshine
• 850km of coastline
• 3rd most peaceful country in the world (by global peace índex 2017 )
• Among the top 10 World’s Best Places to Retire in 2017 (By international living.com)
• Elected the Best Europeancities & beachesDestination for the 3rd time (by www.Europeanbestdestinations .com)
• Population of 10.3 million
• Its all about Lifestyle
Claudia Boto
Algarve• One of Europe´s best known
destinations (nominated by World travel awards)
• Located South of Portugal
• Top golfing destination
• Top beach destination
• All year round good weather
• Within best place to retire overseas
• 450 thousand permanent inhabitants• Rises to 1 million in summer months
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• Natural reserves & wildlife
• Bird Watching
• Fishing (underwater, game and line)
• Different sand & rock beaches
• Several Hotel resort & Spas
• Marinas
• A paradise for several sports & Adventures
• Entertainment day & night
• Casinos
• Art & handycraft
Claudia Boto
Algarve
• Typical villages
• Cultural heritage
• Golf (around 35 courses)
• Rich gastronomy
• Algarve is the ideal place:
• To live comfortably
• Make friends
• Stay busy
• Relax and recharge
• Enjoy your retirement
Claudia Boto
Algarve
• Share the secret…
Claudia Boto
Algarve
Property Market2017 – First Quarter
Foreign investment in Portugal made up 20% of overall real estate transactions
• NHR, French & Scandinavian investors
• Second home, relocation properties & investment
French 26%
British 18%
Brazillian 8%
Chinese 13%Swiss 4%
Belgians 5%
All others 26%
Foreign Investment
French
British
Brazillian
Chinese
Swiss
Belgians
All others
Claudia Boto
House Price change
Claudia Boto
% change over a year earlierAverage value of bank evaluation of
living quarters (Euro per sq. m.)
Source: Instituto Nacional de Estatistica
Q1Q2 Q3 Q4
2017 0.64
2016 -0.19 1.62 1.03 2.23
2015 0.60 1.88 0.87 1.06
2014 -2.07 1.31 2.29 -2.33
2013 -3.73 3.36 0.00 0.00
2012 -1.86 -1.42 -0.96 -0.97
2011 1.32 -2.08 -2.65 -2.36
2010 0.51 -0.08 -2.38 -0.78
2009 0.00 0.88 0.17 2.27
2008 -1.05
% change over a quarter (QoQ)
In 2017 average price per m2 for a 2 bed apartment is €1368/m2
Tourism revenue
Claudia Boto
Tourism Revenue (Million of Euros) Revenue by Country of Origin
Source: Banco de Portugal
Where to start your property search
• Western, Central or Eastern?
• Holiday home, rental investment orpermanent residence?
• Type (apartement, villa, plot, commercial)
• Budget
• Choose a reputable & licensed agent
• Properties can be listed with variousagencies
• Schedule viewings & request all information
Claudia Boto
Silves
Ferragudo Alvor
Monchique
Carvoeiro
Claudia Boto
Carvoeiro• Gained town status in
2001
• Population of 4,000
• All year round resort
• Various beaches
• Golf courses
• Condos; apartments & townhouses, villas, resorts
• Low rise – strict planning controls• Family friendly• Diverse nationalities Claudia Boto
Carvoeiro
AC236 - Carvoeiro
• Fully renovated furnished apartmenton popular resort only few minutes drive from centre & village
• 1 bedroom, 1 bathroom, lounge/dining, fully fitted kitchen, balcony, air conditioning.
• Price: 135,000€
• Purchase cost, (taxes, lawyer, notary , registrations) = €4,900 (3,6%)
• Rental income & expenses
• Minimum 10 weeks = €6,000 (guaranteed)
• Fixed costs = +/-1,780€ p.a
• Return on investment: +/- 4,4% (gross)
Claudia Boto
VC416 – Srª da Rocha - Porches Spacious townhouse on low rise
condominium w/ sea views
• Furnished, 2 bedroom, 2 bathrooms, 1 WC living/dining, kitchen, large terraces, privategarage, comunal pool & gardens.
• Air conditioning, low fees
• Just a stroll to beach, restaurantsand shops
• Price: 275,000€
• Purchase costs (taxes, lawyer, Notary, registrations) = €14,800 (5,3%)
• Rental income & expenses
- Minimum 16 weeks = 12,800€
- Fixed costs = €1,850 p.a
• Return on investment +/- 4,6% (gross)
Claudia Boto
VC308 - Carvoeiro• Excelent conditions spacious
townhouse, only short walk to beach& restaurants, shops. Low fees.
• 2 bedrooms, 2 bathrooms, 1wc living/dining, fully fitted kitchen, largeterraces & roof terrace.
• Sea & village views from terraces
• Communal pool, garden Parking
• Price 325,000€
• Purchase costs (Taxes, Lawyer, Notary, registrations) = €18,800 (5,8%)
• Rental income & expenses
- Minimum 16 weeks = €14,500
- Fixed costs = 1430€ p.a
• Return on investment: +/- 4,4% (gross)
Claudia Boto
VC464 – Sesmarias• Beautiful renovated
detached villa with seaviews
• 3 bedrooms, 2 bathrooms, 1 wc, largeterraces
• Carport, pool, garden
• Short walk to amenities.
• Price: 460,000€
• Purchase cost (Taxes, Lawyer, Notary, Registrations); = €30,000 (7%)
• Rental income & Expenses
-Minimum 16 weeks =
€22,000
- Fixed costs = €2,300
• Return on investment : 4,8%
Claudia Boto
VC472- Gramacho Carvoeiro
• 2 storey villa set in prestigious Golf course
• 3 bedrooms, 3 bathrooms, 1wc living/dining, fully fitted kitchen, largeterraces, carport, heated pool, gas central heating
• Garden & Golf views from terraces
• Discounted golf rates
• Price: 560,000 €
• Purchase costs (Taxes, Lawyer, Notary, registrations); = €39,000 (7%)
• Rental Income & expenses
- Minimum 16 weeks = €30,000
- Fixed costs = €3,900 p.a
• Return on investment: +/- 5,3% (gross)
Claudia Boto
LC004 – Carvoeiro
Claudia Boto
• Building Plots from2000m2
• With permission to build up to 350m2 dream home with seaviews from top floor
• With garage, pool, basement
• Stroll to tennis & fitness centre & amenities.
• Price from: 220,000€
• Purchase costs (Taxes, lawyer, Notary, Registrations); =€18,600 (8,4%)
• Building €/m2:+/-1,200€
Guide to buying• Residency requirement (Long stay Visa from the Portuguese Embassy)
• Fiscal representative (a lawyer can be your fiscal representative)
You have found the property for you…what next?
• Make an offer through your agent – they will be able to advise you on prices
• After price….. Terms (timings, deposit, furniture etc)
• Instruct an English speaking licensed lawyer (searches, confirm it correspondswith the house).
• Transfer deposit to lawyer
• Sign promissory contract
• Completion (sign Deed)
• After sale assistence
Claudia Boto
Thank you Claudia Boto
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