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Taylor White Uncovers Portugal Real Estate Listings

 


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Due to the bad performance of Portugal’s economy, the Portugal real estate market hasn’t recovered compared to the rest of the international real estate market. The high budget deficit has seen the housing market figures slip in quarter 2010.

The figures for the Portugal real estate market have seen a dip in the 2nd Quarter of 2010. Prior to this, in the last 4 quarters, there had been a steady increase in the Portuguese real estate for sale market. In the first quarter of this year, the prices for the Portuguese real estate for sale were up by 3.6%, while in the second quarter, the increase was about 3%. But from the first quarter of 2008 to the first quarter of 2009, the prices for the Portuguese real estate market really fell. Institutional investors and retail investors weren’t ready to buy the Portuguese properties for sale.

The region of Algarve, since it is located on the Mediterranean coast saw an increase in the Portuguese real estate prices. While the other regions saw the prices for the Portuguese real estate prices depreciating. The Portuguese real estate market recovered in mid 2009 while the international real estate market as in the dumps due to the fact that the government spending increased and the interest rates were lowered in the country.

The budget deficit of Portugal is approximately 9.5% and is the fifth highest in the European Union. The overall debt is more than 75% of the GDP of the country. Since Greece faced a debt crisis early this year, the financial problems and woes that Portugal can face is also being voiced by international investors and the rest of the European Union.

Currently Portugal isn’t on the recovery path and the economists forecast that the GDP for the year 2011 will be very low. The country also has one of highest unemployment rates in the European Union and this will have a bad effect on the Portuguese real estate market. This is despite the fact the interest rates are the lowest in the Union.

Currently, there are no restrictions on the foreign property ownership in Portugal and even the transaction cots are among the lowest. Compared to the international rentals, the Portuguese rentals are among the lowest in the Union and the world. The Portuguese rentals are really low at around 4.85%. The income fro rent is taxed 15% on the net. All maintenance, repairs and local taxes are deductible from the rental income before taxation. The net capital gains that are derived from the sale of Portugal real estate is taxed at 25% after deducting the costs for acquiring the property.

The inheritance or gift taxes for the Portugal are not applicable. The transaction costs for buying the Portugal real estate is extremely low and the major portion of the cost is the real estate agents commission, transfer tax and the legal fees.

Taylor White is an international real estate investor and leads the charge at International Real Estate Listings the worldwide leader in Portugal real estate listings , Portugal real estate for sale , and Portugal real estate. Portugal real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.

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