Portugal is working behind the scenes on its Brexit policies, and, in addition to new measures at Faro and Funchal airports, has now released guidance on how expats can stay post-Brexit. Plus, tourism income is up in the Algarve, Forbes names Lisbon as a property market to watch, and the Volta ao Algarve cycling race is set to begin.
Things might be quite quiet down here in the Algarve, but the defeat of Theresa May’s Withdrawal Agreement hasn’t escaped notice. The Foreign Ministry has announced generous plans for Brexit in Portugal to preserve expat rights and encourage tourism as an ‘old British ally’. Plus, as we tally up from 2018, last year looks good for us, with a record year for exports and investment.
Happy New Year from our Vilamoura office! As the sun shines on us (yes, in January), we’ve got a great crop of news for you out of Portugal this year. New tax breaks for those renting out properties have been announced – good news for investors! Average house prices are continuing their steady rise, while the word on the ground is that a deal is set to be sealed on Montijo Airport next week. Also next week, the Foreign Minister will announce his plans for a no-deal Brexit.
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.