Our property boom here is continuing, with stats showing property prices are up by 15% since last year. And growth isn’t confined to real estate either, with some exciting projects on the horizon in the tourist sector. Safe Communities Portugal has launched a new scheme to help facilitate communication between expats and the authorities in the case of emergencies.
A lot has gone on over the last two weeks. A new bill has come into force that places restrictions on short-term rentals and the ‘Golden Visa’ rules are also changing. Brexit discussions continue, while the Portugal 2020 project will see an extra $5 billion of investment into the country. Finally, I was back in the not-so-sunny UK for the last Your Overseas Home show – it was great to be able to meet and help so many Portugal Property Guides readers face-to-face.
I wrote this time last month that Portugal’s property market is booming and that’s certainly showing no signs of slowing down. The golden visas programme continues apace, attracting more and more investment into the country. Likewise, we’re seeing more results of the building boom, with luxury developments in Lisbon nearing completion. Plus, lest you think the Algarve’s just for holidays, an innovative solar facility’s opened near Martim Longo.
You may spot some common themes last and this week in your Portugal news update: sun, golf, and a strong economy. We’re still enjoying temps in the 30s out here as the Portugal Masters draws to a close. Also this week, figures are showing that the Portuguese holiday rental sector is doing better than we thought, as the ‘staycation’ grows in popularity among locals.
There’s plenty going on here in the Algarve and Portugal at large this week. Reports are suggesting that we’re in for the highest increase in house prices in Europe – so it’s really imperative that buyers get ahead of that curve. We’re continuing to bask in sunshine, with temperatures remaining around 29°C right through this month. Plus, we’re seeing more investment coming in down here on the coast – a new airline route between Portimão and Bragança is becoming more and more popular. Here’s your news update from Portugal.