Public Liability Insurance for Holiday Accommodation

Public liability cover has always been included in the building section of a home insurance, often referred to as public liability for family (responsabilidade civil familiar) but this does not cover anyone renting the property.

As per article 13-A of law 62/2018 from August 22nd, revised by article 347 of law 71/2018 from December 31st, all operators of short-term rental properties (titulares da exploração) are obliged to obtain a public liability insurance for their property with a minimum coverage of 75,000€ per liability case. Continue reading

Bank valuations and property prices in Portugal

Both bank valuations and prices of properties have been increasing continuously in previous years.

Since 2017 the average bank valuation per square metre has increased for 28 consecutive months and reached a new peak in July (1,283€). According to Statistics Portugal (INE) bank valuations carried out in July of this year increased by 0.9% in comparison to the previous month and 8.1% in comparison to July 2018. Continue reading

Mortgages in Portugal

Since interest rates are low, financing the purchase of a property through a national bank loan could be an interesting option, especially because since 2010, Portuguese banks have not been lending as much as they are now. During the first four months of this year, almost 3 billion euros were lent for the acquisition of property. Continue reading

Portugal’s New Popularity

Everyone who recently visited Portugal must have felt it’s new vibe. It’s almost as if it awoke from a long rejuvenating sleep, presenting itself to the world in a more attractive shape since the end of the recession in 2013.

Hidden behind the big neighbour Spain for decades, Portugal suddenly overcame its unpopularity and became a hotspot for both visitors and investors. For its inhabitants this certainly did not come as a surprise as we have been asking ourselves for a long time why its varied natural beauty, superb gastronomy, welcoming people and rich cultural heritage have not been enough to convince many people to explore this country. Continue reading

2017 – What a Year!

It is now official: 2017 was the best year ever in terms of property sales, at least since 2009 when this sort of data was collected and registered for the first time.

It certainly does not come as a surprise that the Portuguese property market has seen a massive recovery since 2014, after a heavy 5 year recession period but probably hardly anyone anticipated such a fast recovery. A recovery which has become a new boom. Continue reading