Whether as an investment, a second home in the sun or as a permanent move abroad, real estate in the Algarve has become a luxury niche market of profitable returns. We wish to maintain our current and future clients informed throughout their property hunt and look to share here some of our top tips in finding the ideal home for you.
Assessing your, or your family’s main proprieties is key. Deciding on the number of bedrooms, size of the plot, apartment or villa, location, privacy, design requirements and most importantly your budget.
Whether you choose to do this for yourself or alongside your appointed real estate agent, this framework is extremely important so as to funnel and understand the best properties to visit. This step is a key element in the dedicated effort put forward by the ONE Select Properties team. We wish to understand all your requirements and offer all that is on the market within your determined priorities.
Staying informed on the current market, both globally and in your chosen destination is very important. Researching and comparing local real estate websites, reading local newspapers and talking to estate experts in person is crucial to get an accurate and updated view on your future purchase.
Visit And Holiday At Your Chosen Location
The choice to buy a home in Portugal is usually based on having spent years, months or sometimes only weeks on holiday in certain areas. Before looking to buy property we recommend that clients spend some time in the area. Perhaps rent a property, walk and drive around, go to some restaurants and even visit local amenities so as to get an idea of whether these would serve your everyday or holiday needs.
As for visiting the property itself, despite being aware and making use of the current technological advancements to showcase listings remotely, we always advise that clients visit the properties themselves. This is the only way to really discern deal-breakers, check the surroundings and get a physical feel for the house.
Seek The Correct Counsel With Your Best Interest In Mind
Finding an experienced real estate agent is vital, and with our 35+ years of practice we are always honoured and ready to help our clients however, we always advise that a client take the same measure when choosing a lawyer. Every country acts according to its established legal system. An accredited and specialised lawyer will certainly know every particularity of the national law and in this way understand all the requirements that need to be met when buying a luxury property in Portugal.
Appointing a legal adviser allows for you to focus on your property search, trusting that all the documentation and correct permissions are in place for your purchase. Alongside, a property purchase in Portugal requires other paperwork and with this possibly being in an foreign language, legal support is recommended.
Plan Your Time Abroad - Particularly For Non-EU Countries
Being able to freely travel between countries in the European Union is a great blessing for those who are residents, or have acquired residency in the EU. Looking to buy, or having a bought a property in Portugal, and now being denied the freedom to flexibly travel, such is for UK residents, requires clients and property owners to plan their time abroad.
With the implementation of Brexit, as of January 1st of 2021, an end of movement rights was established. For short-term visits to most EU Member States no visa is required, however a limit is imposed allowing for stays of up to 90 days in any 6 month period. For longer periods of stay clients will need to apply for residency. It is important clients keep this in mind so as to not incur any infractions.