Welcome to our April newsletter! With businesses in lock down (locally we’re now at 2 months), we can see some light at the end of the tunnel with various countries in Europe slowly opening up for business again.
In Portugal, the official lock down is announced until the 2nd of May, and afterwards, measurements have been put in place so that businesses can start reopening sector by sector every 15 days.
Real Estate wise, the big question is of course, what will happen property prices and the market in general. We can state that in March we had about a 20% drop in enquiries, but in April we’re actually up about 10% in comparison to 2019, so this is a very positive sign from the market.
We are not only seeing an increased interest from those for whom the Algarve is already part of their DNA, but many of the new enquiries are from clients looking to make use of the Golden visa and NRH program (the 10 year tax reduction rule on pensions), thus further implementing the Algarve as an international, vitamin D rich haven.
So all in all there seems to be light (and sunshine) at the end of the tunnel. Stay positive, but more importantly, stay healthy so we can see you soon !
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