Algarve will have tourist tax of 1.5 euros between March and October 2019

AMAL approves bases for the introduction of a tourist tax in the Algarve, in the value of 1.5 euros, from March to October, and only in the first seven days of stay ... Children up to 12 years old are exempt from payment. Each municipality must now approve, at the municipal assembly, its tourist tax regulation, which, according to AMAL's proposal, should come into force, from the 1st of March 2019.

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Delaware not included on EU offshore blacklist

Recent speculation that Delaware may have been blacklisted by the EU caused a great deal of concern amongst Algarve property owners whose properties are held in Delaware companies. Now that the list has been published, with no mention of Delaware, the Algarve Resident requested clarification of the current situation from both euroFinesco and The Sovereign Group

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House prices in Portugal grow 1.8% in the first quarter of 2017

According to data collected and now revealed by CI - Confidencial Imobiliário, the price of houses in Portugal increased by 1.8% in the first quarter of 2017 compared to the previous quarter, with the quarterly price increasing in this 1st quarter, as to the fourth quarter of 2016. The recovery in house prices in Portugal since the low market reached in June 2013 is now at 14.3%

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House prices increase double in the Euro Zone

The price of homes in Europe is rising and Portugal is one of the countries leading this upward trend, with the second highest rise in the euro zone and the fourth among the 28 members of the European Union. Eurostat data for the third quarter of 2016 show that Portugal has one of the highest growth rates in real estate prices in Europe (7.6%)

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Algarve surpasses hotel bookings and profits of 2015 by October

The Portuguese Statistics Institute (INE) has announced "a significant increase in hotel booking and profits" in Portuguese hotels in October. The Algarve was no exception, and registered numbers way above the expected. Between January and October 2016, the hotels in the Algarve registered more bookings than during the whole year of 2015, which had been considered one of the best years ever for the region.

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