Key Lago’s Groundbreaking Ceremony took place on Saturday 24th October, 2009 in the Keys Information Centre in Quinta do Lago. Golfer Rory Mcilroy joined Mark Lenherr of E3 Property, together with Vitor Ribeiro of Tecnisan and Francisco Piedade of Caixa Geral de Depositos, in digging the first hole on the construction site.
AFPOP was founded in Portugal in 1987 when the Portuguese property business was booming and legislation was changing at a bewildering rate.
With over 20 years experience in Portugal, Anglo Portuguese Mortgages, offer an unrivaled service for non-residents in Portugal.
Many investors who could pay for a property outright still choose to mortgage the property. In some cases, this suits an individual’s tax planning. Others take out a mortgage and invest it elsewhere in the expectation that the returns will exceed the interest they pay.
Decree-law 226A/2007 states that owners who have a bore hole, well, pond, septic tank or residual water collector on their property need to register with the National Water Authority (ARH) by 31st May 2009.
The energy certificates are a legal requirement as from January 2009 for all properties which are sold or rented. Read about what it effects and how to obtain it.
According to the Law Nº 64/2008 (12-5-2008) the IMI of the top end has been reduced by 0,1%.
Buildings are being classified in accordance with their eco quality. This has already been initiated and is being carried out in various stages. It is foreseen that as from 1 January 2009 all buildings will need to have the energy certificate which will be required when selling your property.
VAT tax in Portugal was reduced by 1% from 21% to 20%.
The Tax department have confirmed that commission paid to an estate agent on the sale of the property is considered a deductible expense against capital gains tax (Mais Valia).
