With March 2019 fast approaching Diamond Properties Algarve have been reviewing headlines about Brexit and how Portugal's Real Estate Market and its various tax programs could be your hero. Headlines such as 'considering leaving UK over Brexit uncertainties', 'Britons join queue for Golden Visa route to EU', 'Golden visas could be solution for Brits post Brexit'.*
What might be the consequence on the housing market in Portugal in March 2019? Have you been thinking about what to do with your pension funds, investing in a property in Portugal or leaving the UK altogether? Would you be applicable to get an EU passport by investing in property or a business in Portugal under the Golden Visa program? We have included within this blog some links that you may find useful about alternative routes to remain in the EU for those applicable. The UK Government last updated their website on 28 November 2019 about this subject. We have shared our experience on what our clients are doing, which may help with your own hypothesis.
Our clients are not only from the UK but also from throughout Europe. We have seen an increase in clients from Europe mostly France but also globally such as the USA and Canada, where you might think Brexit won't effect their economy and policies so there would be no urgency to their decision to buy in Portugal. However, what we are finding is an increased number of expats interested in speeding up their choices Portugal has to offer -
In fact, we have found in the case of some clients, Brexit has only encouraged their curiousity and urgency to live and work in Portugal, whether to rent, buy or set up a business.
There are many elements that UK buyers may need to consider, when looking to invest in property in Portugal that may be effected by March 2019 -
If you are a property owner in the Algarve, do you think now might be a good time to sell your property to one of those seeking these benefits offered by Portugal? The current exchange rate is in your favour if you are sending Euros to Pounds - but this is likely to change in March 2019 when, who knows, whether that will be in your favour or the buyers favour. Could a decision to sell sooner than planned be a shrewd move? Could property demand or prices go up or down after Brexit?
We work with a range of experts that can assist you from Lawyers, Tax Accountants, Wealth Advisors, Banks, Mortgage Brokers and Foreign Currency Exchange Services and will happily put you in touch with them to answer your questions.
We hope that, whatever the Brexit outcome, it works out positively for you. We don't have all the answers and we are not saying we agree or disagree with Brexit but we have outlined some scenarios some of our clients are experiencing. Our role is in the form of handing you your own key to one of our properties you buy from us. From Offer to Completion can be as quick as 8 weeks and as your Estate Agent 100% local in the Algarve, we are with you throughout the whole process in English or Portuguese.
We hope this blog has given you 'some food for thought'.
Contact us to see how we can help with your dream home at tel 00351 919 716 846, free internet calls and messages on Facebook Messenger and WhatsApp or email us.
(January 2019)
www.DiamondPropertiesAlgarve.com
*Headline sources FT.com / The Portugal News / Essential Business
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