Director’s Blog

Our Marketing Director offers his personal views and opinions of the Portuguese property market alongside the latest news from the Portuguese propert market:

23rd November 2008 – a World Leader in Environmental Action

Portugal has strong environmental credentials for holidaymakers keen to minimise their carbon footprint, with the country now a world leader in renewable energy. A recent ABTA poll revealed that 83 per cent of people consider it important that their holiday does not damage the environment.

More than half said they were interested in finding out more about the environmental credentials of their chosen resort before booking a holiday.

Conscious of this, Portugal is forging ahead in its use of renewable energy technology. UK visitors currently constitute 19 per cent of tourist numbers to Portugal, who can now visit the country knowing that the energy resources used on their trip -in hotels, restaurants, resort infrastructure etc– are increasingly from carbon reducing renewable energy sources.

Portugal has already exceeded the EU’s target of achieving 20 per cent of its energy consumption by green, renewable sources by 2020 and it is on track to achieve 45 per cent of all its power from renewable sources by 2010.

Being one of the sunniest countries in Europe, Portugal has invested heavily in capturing solar energy. Three of the world’s biggest solar power plants are being built in Portugal including the world’s largest in Moura, southern Portugal. This solar plant is comprised of 350,000 solar panels spread over an area the size of 150 football pitches.

In addition, Europe’s largest wind farm with 120 wind turbines is currently being constructed in the Minho Valley, northern Portugal. When complete it will supply enough energy for the equivalent of around 12 per cent of Portugal’s energy requirements.

Most recently, taking advantage of its famous coastline, Portugal became the first country to launch a commercial wave power farm. The complex in Povoa do Varzim, northern Portugal, generates power by harnessing energy from the Atlantic Ocean’s waves, using undersea cables to connect the farm to the Portuguese national grid.

Vice President of Turismo de Portugal, Dr Frederico Costa said: “With 320 days of sunshine a year and 800 kilometres of coastline, Portugal boasts some excellent natural advantages for the development of renewable energies. With holidaymakers becoming increasingly concerned about their environmental footprint, Portugal is an excellent destination for those looking for a ‘greener’ holiday option.”

(extract from Travel Daily News)

Until next time…..Stuart G.

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17th Novmber – Business News Portugal

€300M package to encourage mergers between SMEs announced by PM José Sócrates

Sócrates announced: “There is a new program to encourage mergers between companies, the Government will make available €300M to encourage the merger of SMEs. We hope that companies will unite to generate economies of scale, because they will be stronger this way”. This was in Santa Maria da Feira where Sócrates went to present and explain the new credit line of €1.4bn for SME to businessmen.

http://www.jornaldenegocios.pt/index.php?template=SHOWNEWS&id=340650

Portugal is the 13th country where it is easier to pay taxes

A newly published report by the World Bank and PricewaterhouseCoopers shows that the tax authorities worldwide are amending their tax systems through tax cuts, simplifying administrative processes and modernizing payment systems.

With respect to the degree of difficulty in tax payment in the EU, Portugal is considered to be the 13th country where it is easier to pay taxes. This ranking is composed by 25 countries.

According to the report “Payng Taxes 2009” regarding the 2007/2008 period, in the three first places are: Ireland, Denmark and Luxembourg. The last three places are for Italy, Poland and Romania.

http://www.agenciafinanceira.iol.pt/noticia.php?id=1011975&div_id=1730

Until next time…..Stuart G.

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4th November 2008 – Why buy Property in Portugal?

Investors say:

“Portugal never had a boom so it’s not likely to have a correction, unlike other markets such as Spain and Ireland. Prices have steadily increased and I am confident that this will continue.”

Why buying a second home in Portugal?

People that experienced say:

“You’re never bored in Portugal – there are loads of things to do. You can go walking in the natural parks, visit medieval castles, have a day on the beach even during winter, play golf or just laze around and have some good wine.”

Until next time…..Stuart G.

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20th October 2008 – Family buys villa plot at Troiaresort

Having lived in Cascais in the known Estoril Riviera in Portugal, for almost eight years, John, 39, works for an insurance company in Cheshire and has bought a plot at Troiaresort with plans to develop a second home to enjoy holidays with his wife Kath and four children – Daniel, 11, Holly, 9, Lauren, 7, and Joshua, 4.

John says, “I lived in Cascais, near Lisbon, for almost eight years, so know the area and country well.

“Tróia is paradise in Europe. It has natural surroundings with white, sandy beaches. Since it is in a type of harbour, the inner area is sheltered so you can do loads of water sports.

“I’ve been taking my kids to Tróia for many years and we have often seen dolphins in the harbour and enjoyed swimming at the beaches.

John bought a beach villa plot that backs on to a small lake. Here he plans to build a three-bedroom villa plus study with a private garden and swimming pool.

“I bought the house partly as an investment, but mainly as a treat for me and my family. I still own the house in Cascais and plan to rent this out, so the Troiaresort property will be for holidays and fun.

“We will also be to take the boat across to Setubal, the town opposite the peninsula, where they have a local speciality of choco frito – cuttlefish fritters, which are a bit like a large squid. They deep fry them like we’d do fish and chips and it tastes incredible.”

“You’re never bored in Portugal – there are loads of things to do. You can go walking in the natural parks or just laze around and have some good wine.

“There are some fantastic wineries nearby where they produce some amazing wines, including my favourite, Quinta Bacalhoa, which you can buy for about €15 a bottle and it’s unbelievable.

“The kids also like to walk on the beach and pick up millions of shells – they are scattered all over the sand. Our bathroom is filled with them!”

“It’s also very easy to get to, with direct flights from Manchester airport, which is close to us. You can fly either to Lisbon or Faro – it’s about an hour from Lisbon airport and two from Faro – so there are some good options to get there.”

Having lived in Portugal for almost eight years, John knows the local property market well. “Portugal never had a boom so it’s not likely to have a correction, unlike other markets such as Spain and Ireland. Prices have steadily increased and I am confident that this will continue.”

John sums it up by saying, “Portugal is beautiful, but Tróia is the jewel in the crown.”

Until next time…..Stuart G.