Three-bedroom traditional Olhão townhouse, tastefully renovated with spacious south-facing terrace and an upper viewing terrace.
Situated in a prime pedestrian street in the sought after historic centre, one minute walk to the iconic markets and the Ria Formosa waterfront and scarcely three minutes to the Culatra and Armona island ferries.
The Alojamento Local law, which regulates the short-term rental of properties (holiday lets) has been altered, writes Azul Properties.
Making sense of Alojamento local changes
In October 2018 the new law (62/2018) relating to Alojamento Local (temporary tourist accommodation) came into force.
The regulatory changes to the Golden Visa program, which came into force in October 2018, are designed to simplify visa applications and permanent residence permits in Portugal.
Looking at the numbers, in accumulated terms since October 2012, the foreign investment programs in Portugal have captured a total investment of 3,921,411,271.37 euros. At the time, it was an interesting strategy to circumvent the crisis in the country by encouraging the flow of foreign capital into Portugal. However, the first 7 months of this year saw a drop of 22.2% in investment raised compared to the same period in 2017.
Latest properties for sale by Exclusive Algarve Villa´s.
It is quite clear to see that it is still vibrant in the Western Algarve with many people visiting, looking and buying. The question we need to ask ourselves is, how long is this going to last? Maybe 2 or 3 years? What we do know is that it is a perfect time for vendors, especially the UK owners, to take advantage of the conversion rate back to the pound. The serious lack of product for sale in the area is now clearly apparent, and the prices of many of the existing properties are being raised.
According to recent figures from the SEF (Foreigners and Borders Service), investment in Portugal via the Golden Visa residency scheme in October this year was double that of September!
Cerro Novo is pleased to present this lovely two bedroomed townhouse in an elevated position within this well respected development around five minutes drive to Old Town Albufeira.
With a practical and well-proportioned layout, the townhouse features a large terrace with immediate access to the communal gardens and swimming pool, as well as two upstairs balconies from each of the bedrooms.
Patroves is an increasingly popular hillside community of mainly individually designed villas on substantial plots.
This lovely home enjoys views toward the ocean, whilst benefitting from a landscaped garden with a good-sized pool, pool deck and BBQ.
