New Masterplan brings golden buying opportunities to the Algarve

Huge development plans are set to transform Vilamoura into one of the world's leading tourist residential resorts and attract more international investment to Portugal's Algarve, including Golden Visa applicants, said PortugalBuyingGuide.com in October.

“The €1 billion masterplan, overseen by Vilamoura World, was announced last month and includes 18 new projects, combining property, leisure and retail units, in total covering a staggering 400 hectares,” says Marina Pasquill, who runs PortugalBuyingGuide.com's office at Vilamoura Marina.

“Given current market conditions, with prices stabilising, limited new construction and a highly competitive resale market, buying in Vilamoura now could be a smart long-term investment. Vilamoura does need better infrastructure and retail outlets – that is no secret. This development will help achieve that, as well as putting this part of the Golden Triangle as much into the spotlight as other popular resorts, such as Vale do Lobo and Quinta do Lago. Vilamoura's Marina area, close to our office, will also be upgraded to include a new yacht club, spa and gym, restaurants and boutiques, which we're very excited about.

“British and other overseas buyers also benefit from sizeable tax breaks and low taxation, provided by Portugal's Non-Habitual Residents (NHR) scheme, which guarantees the tax breaks on pension and income for the first ten years of residency in the country. Unlike a number of other EU countries, Portugal does not levy a wealth tax, and inheritance tax is lower than in many of its EU counterparts.

“Among the foreign investors attracted to the Vilamoura World developments, we expect an increase in Golden Visa investors, as more non-EU citizens look beyond Lisbon and Porto for a choice of €500K luxury properties. Golden Visa applicants continue to be strong in Portugal, with Chinese, Vietnamese, Russian, Malaysian and Middle Eastern investors taking advantage of the scheme. One of our partners here completed six Golden Visa property deals just this week, while last week, our currency partner, Smart Currency Exchange, signed up a Malaysian Golden Visa applicant who has invested in three properties, totalling around €1 million.”

“This exciting new development comes just as Portugal Buying Guide and Smart Currency Exchange celebrate the first anniversary of their shared offices at Vilamoura Marina, on Avenida Cerro da villa. Both companies are seeing a significant uplift in interest in Portuguese property investment, from those buying second homes, holiday homes to rent out, or even planning to move to the country permanently. If you are considering investing in or making the move to Portugal, now is certainly a good time to act.”

- Ends -

Notes for Editors

1. The Portugal Buying Guide and Smart Currency Exchange office is located at the popular Vilamoura Marina:

Avenida Cerro da villa,
Edificio Vilamarina, Loja 58,
8125- 403, Vilamoura

2. Marina Pasquill, Country Manager at www.PortugalBuyingGuide.com, is a well-known industry expert across Portugal. She recently joined the Portugal Buying Guide from Ideal Homes, a leading Portugal real estate agent, where she was Managing Director. She worked her way up from marketing manager at the very beginning of the company, when they only had a team of five people, to run the 22-strong business. During this time, Marina learned all about how the property market works in Portugal, including local laws, licensing, and critically, how to buy and sell property successfully.

3. Marina has lived in Portugal for four years, having made the move to offer a better quality of life to her daughter, who is thriving, thanks to the good schools, fresh air, and all that this fantastic country has to offer. Following a career in retail management in the UK, Marina's first role in Portugal was working on one of the Algarve's most prestigious golf courses, where she started to build her network. This led to a sales role in websites and search engine optimisation, which in turn led her to The Portugal News. Through this publication's focus on UK nationals moving to and buying in Portugal, Marina continued to build her network of property and legal experts from Guia to Albufeira, leading to her work in building the business at Ideal Homes.

Marina has a degree in Business and Law, which has been put to good use. Most importantly, she loves meeting and talking to people, helping them to follow their dreams and find a better life in Portugal.

4. The Overseas Guides Company: Creators of www.PortugalBuyingGuide.com, the Overseas Guides Company is the official guide partner for Rightmove Overseas and winner of the OPP Gold Best Media Award in 2013 and 2014, Gold winner for Best Supporting Service in 2014, and winner of a Bronze Award for Best Media in 2012. The Overseas Guides Company was launched in 2005, since going from strength to strength to become the foremost media portal and resource for anyone looking to buy property or move overseas.

5. In addition to the UK Resource Centre, which offers free information over the phone (020 7898 0549), the OGC publishes in-depth, unbiased Buying Guides for 15 countries across the globe, regular newsletters and information bulletins for overseas property buyers.

6. The Overseas Guides Company Partner Network connects readers to a range of trusted professionals who are experts in the international property buying and selling process, including property agents, financial and legal advisors. To ensure information is current and first-hand, the company has a growing team of expat writers, who offer first-hand information and an in-depth understanding and of what life is like in their country of residence.

7. Smart Currency Exchange: Key partners of OGC, Smart Currency Exchange is an FCA-authorised international money transfer specialist with over ten years' experience in the overseas property market. Smart Currency Exchange has built on its founding values of customer-centricity and harnessing overseas property expertise to help over 30,000 clients in the UK to better understand the risks of fluctuating exchange rates in order to save money on currency costs, transferring over £1 billion annually for clients to destinations all over the world.

8. Unique in the industry, Smart Currency Exchange does not remunerate their traders on commission, but instead on customer satisfaction and retention, meaning they offer personalised, impartial client service. Crucial to this is an in-depth understanding of the overseas property buying process, supporting clients from start to finish. Smart Currency also partners with legal experts, agents and financial advisors to help make their overseas property purchase as smooth and straightforward as possible.

9. All writers and industry experts at both the Overseas Guides Company and Smart Currency Exchange are available for media comment on all aspects of buying, selling, or living abroad.

10. Media contacts:

Rachael Kinsella, Senior Content Manager

rachael@overseasguidescompany.com

+ 44 (0)207 898 0549
+44 (0)7581 478727 

Marina Pasquill, Portugal Buying Guide Country Manager
marina@overseasguidescompany.com
+35 (1) 932 277 565 (Portugal)
+44 (0) 207 898 0549 (UK)