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Property Styles

About Property Styles

Located in the Central Algarve area of Almancil, Property Styles is able to offer a professional, dedicated, client orientated service. Doug Styles, the proprietor of Property Styles, has over 25 successful years of local property sales experience and a history of mediating property sales, not only in the luxury Golf and Beach developments of Quinta do Lago and Vale do Lobo, but also in the adjacent developments and surrounding rural areas. One of the key services we offer is PROPERTY FINDING, identifying and obtaining THE property being sought. This spectacular region offers some of the most desirable properties in Europe, and has not only become the second home location of choice for celebrities’ and high net worth individuals, but also many retirees taking advantage of the various fiscal benefits that Portugal has recently introduced, such as an incentive to take up residence under the conditions of Non Habitual Residence initiative. This has attracted many new markets, such as the French escaping the new draconian measures that have been introduced by François Hollande. There is also the so called Golden Visa programme, which is specifically designed to offer Non Europeans unhindered travel between Shengen Accord countries, this has tempted many buyers from countries other than the UK and Ireland to explore the possibility of buying property in Portugal.  Not only do we have a portfolio of carefully selected properties, but we are also able to recommend professionals from related service providers, such as lawyers, surveyors, architects’ and even financial institutions.

 All your concerns from first enquiry to transfer of ownership can be alleviated. In order to ensure a pleasurable and successful experience, our choice of collaborators is able to provide professional advice and guidance throughout the process of purchase.

Buying

The Buying Process

Portugal has one of the most regulated property industry`s in Europe, all official Estate Agencies are Government Licensed. The whole process of buying or selling a property is recorded by lawyers and notaries, nevertheless, it is a very straightforward procedure. When a property is selected as a potential purchase, an offer is made in writing, if accepted, a promissory …or pre….contract is prepared by the buyers lawyer, when both parties are in agreement with the conditions the contract is signed. Simultaneously a deposit of a minimum of 10% of the sale price is paid over to the seller, this deposit is non refundable once the contact is signed. As a deterrent to the seller not to gazump the intended purchaser, and or if the vendor chooses that the completion does not take place, a penalty of 100% of the deposit amount plus the deposit becomes payable.  A completion date is agreed and in the interim a building survey….optional….and a property or company search is carried out, a bank survey may also be necessary if a mortgage is being arranged, once this is satisfactorily achieved the balance is paid and the keys are handed to the new owner.

 

Fiscal Advantages

Recently the Portuguese Government has introduced a number of financial incentives, designed to attract foreign investment.

One is the so called Golden Visa, in a nutshell, if a buyer from a non EU country invests, either a minimum of  €500,000 in the purchase of a property or €1,000,000 in a business activity, they are issued with an initial 5 year resident permit....extending to ten years...entitling the holder to not only reside in Portugal but also travel within Schengen Accord countries.

A further initiative is the Non Habitual Residence concession. This entitles nationals from any country who have not resided in Portugal within the past 10 years to take up residence in Portugal and not be subject to a tax demand on any pension payments and certain investments.

N.B. This information is only cursory and as regulations are subject to change, should always be verified by an approved financial or legal advisor.

Property Styles

Rua Manuel dos Santos Vaquinhas,Lote 124 - Loja A,8135-173 Almancil,Algarve, Portugal

Tel: 00 351 289 396 246 
Email: info@propertystyles.co.uk

http://www.propertystyles.co.uk

 

 

 

Property Styles

Rua Manuel dos Santos Vaquinhas,Lote 124 - Loja A,8135-173 Almancil,Algarve, Portugal

Tel: 00 351 289 396 246 
Email: info@propertystyles.co.uk

http://www.propertystyles.co.uk