Why Not To Invest In Bulgarian Property

In this tough financial climate we continue to find ourselves, many are left with their assets floundering in the wind, so to speak! Enter your email below to receive first-hand our latest properties for sale, exclusive new launches, property news as well as useful information on investing and moving to Portugal. They sometimes try to stimulate the economy by keeping interest rates very low and by buying up bonds in the open market.

Interest only mortgages are only available for construction mortgages in Portugal, and even then, usually only for the first one or two years of the mortgage term. If the home was a primary residence, 50% is added to the income tax in the year of the sale - unless the proceeds are used within two years to purchase another primary residence, in which case the gains are tax exempt.

There are no restrictions on non-EU residents buying property in Portugal, and the government does what it can to encourage foreign property investment. Think of it this way - You want a loan, so you go to the bank and they want to know the value of your assets, in order to determine your financial situation at the time you want the loan.

Euro mortgages are available, and the minimum loan amount you can borrow depends on the lender you use. There are also additional legal expenses connected to the transfer of ownership at the land registry and fiscal department when buying a property in the Algarve, Portugal.

Data from the Bank of Portugal indicate that in the first nine months of the year, financial institutions extended 5.953 billion euros in housing loans. Once an application has been approved by the Bank and the terms and conditions have been offered and accepted, all legal documents will be prepared by the Bank's lawyers.

At Quinta Finance we have over 15 years of experience to draw upon with all the banks that operate in Portugal and by being physically based in Portugal we are in regular contact with the decision makers in Lisbon to make sure that we have the best products available for you.

During World War II, tax rates were increased to as high as 75%. Conti specialises in overseas property purchase, while other brokers, like Savills, advise on mortgages in different markets. Both repayment and interest only mortgages for Portugal are available with fixed and variable rate options.

With this type of loan, your monthly payment fluctuates depending on the indexer (the index that is normally used in housing loans Cheap Algarve Property (here.) is EURIBOR ). Over the repayment period, the monthly payments are usually revised every six months based on Euribor rates.

Now, however, sellers are having to agree prices which are in line with bank valuations, rather than market demand, meaning that, according to local listing site Meravista, which has 24,000 properties available, Portuguese property is now up to 32% cheaper than the UK.