At the beginning of the year, and to encourage responsible credit, changes in the law were made to reinforce the information given to customers to allow them to be more conscious in their decision-making process. In summary, some of the changes are as follows:
The promoters of Ombria Resort, the real estate development between Tôr and Querença, in the Loulé Council area, have uncapped their eco-pen with a flourish to create the illusion that a villa, apartment, hotel and golf development in the formerly unspoilt Barrocal is a “sustainable” project that “values the region's culture and cultural traditions,” - which in the area in question is, or was, agriculture.
The design of the first phase of the project has been released, an initial investment of €100 million, to include a 5-star hotel with 76 rooms and suites, the Viceroy Residences at Ombria Resort, which include 65 tourist apartments, as well as Alcedo Villas and the Oriole Village, all 'Carved by Nature' accordong to the rather flowery blurb.
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• An easy stroll to one of the most stunning coves in the central Algarve
• Five minutes drive to Albufeira Marina and historic Old Town
• Large and sunny swimming pool
• Ocean views
• Traditional design and spacious layout
A new discussion has opened on housing problems, in large cities, based on the assumption that there is an excess of Alojamento Local (free-for-all) with short duration rentals, in the historic centres. The Government, therefore, accepts the creation of laws to regulate the local leasing market.
The Agency Portugal has been established to shake up the real estate market in Portugal, correcting the flaws experienced by its founder, Andreas Christian Zabari, during the sale and purchase of properties mediated by traditional real estate agencies in Portugal.
It is a well-known fact that the property market in Portugal is skyrocketing, especially in Lisbon and the Algarve, which can also be illustrated by the numerous new estate agencies popping out on each street corner. If you check out the local press you will notice plenty of ads by these agencies stating that they are looking for new properties to list as they are running out, since they are selling at a fast pace.
Tucked away in a leafy semi-residential development on the outskirts of Albufeira, and just a few kilometres from Santa Eulalia beach, we’re pleased to present this special Moorish style property with an amazing garden, pool and a spacious internal design.
Here we are at the start of 2018 and since the Brexit result was announced 18 months ago, it does not appear to have had much of an impact on the overseas property market.
People have seen Brexit as an inevitable – it is going to happen, but no one is sure what form it will take. As yet, it has not had a major impact on my business.
