News & Updates

Portuguese house market steadily improving

Figures regarding the performance of the Portuguese property market in November have shown that things are steadily improving, especially when it comes to property sales. According to portugalresident.com , data from the Portuguese Housing Market Survey (PHMS) revealed that during November 2013, the number of houses sold reached the highest level seen in three years. Moreover, November was the fourth consecutive month in which buyer inquiries increased. As a result, sales expectations...

Posted on Tuesday, January 21, 2014 by Laura Varley

Portugal expected to exit bailout as planned

Portugal's secretary of state for European Affairs has said he is "very confident" the country will exit its bailout programme in May. Bruno Macaes told cnbc.com how the government was very confident that Portugal could exit the bailout on May 17, even though exact conditions surrounding it have still not yet been put forward. Portugal has posted a relatively strong economic recovery in recent months, even going so far as to claim it could even exit the bailout with a small "cash...

Posted on Wednesday, January 15, 2014 by David Howells

Tourism chief reveals €6 million Algarve marketing budget

The Algarve Tourism Association's (ATA) new president has pledged funds of €6 million to be spent on promoting the sunny region to overseas visitors, portugalresident.com reports. Announcing the multi-million euro budget, Carlos Luís said that the money would be used specifically for campaigns in foreign markets and that with any luck, the budget could be increased later in the month. Luís, who has just taken over the presidency from Desidério Silva, added that...

Posted on Thursday, January 9, 2014 by Elizabeth Smythe

New Year driving changes come into force

The National Authority for Road Safety (ANSR) has implemented a number of changes to Portugal's Highway Code, expresso.pt reports. To improve road safety and bring the 'Código da Estrada' more in line with other European versions, over 60 amendments have been made to the Road Traffic Act. Several of the rules will be of interest to non-Portuguese nationals, specifically the requirement for drivers to carry a tax identification card if they don't possess the new...

Posted on Monday, January 6, 2014 by Elizabeth Smythe

Gold visa uptake 50 per cent higher than expected

The amount of golden visas issued to foreign investors during 2013 was 50 per cent higher than had been predicted, deputy prime minister Paulo Portas announced. According to theportugalnews.com , the 471 gold visas issued to foreign investors had brought in an estimated 300 million Euros worth of investment to the country. The Deputy Prime Minister revealed that this amount of investment was double the amount of the predictions made by his office. A large proportion of the investment...

Posted on Friday, January 3, 2014 by Michael McFadyen

Portugal out of recession, president announces

Portugal's president, Cavaco Silva, welcomed in the New Year by declaring that the country is now out of recession, theportugalnews.com reports. In his New Year address to the nation, Silva declared that the recession in Portugal was now over and that, as a result, he had decided against sending the 2014 Budget to the Constitutional Court. Looking ahead Silva remained pragmatic; again reiterating his calls for parties from all across the political spectrum to work together in a...

Posted on Thursday, January 2, 2014 by David Howells

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