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Monthly Archives: November 2014

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Foreign Property Investments

Foreign property Investments double 2013 levels

In the first 6 months, real estate investments by international groups and individuals have reached 400 million Euros. This should bring property purchases close to pre-crisis levels by the end of the year. Currently, this investing is predominantly in commercial property in upscale sections of Lisbon.

New Web Site rules

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Web sites promoting unauthorised holiday lets are also subject to fines

According to the “Jornal de Negócios”, aside from “supply and availability”, also the “advertising and brokering” of illegal accommodations is considered a misdemeanour, subject to fines of up to €35,000, and sanctions including closure of the activity.

Websites that advertise offerings and mediate bookings of unauthorised holiday lets also risk being fined and see the penalties applied.

Unauthorised Local Lodging Scams

In a single day in August, the GNR received 8 complaints regarding potential local lodging irregularities. The accusations arose from people who had paid while making reservations who later found that either the accommodation did not exist or was already rented.

IMT to be repealed in 2016

NALLE logo-red 30%Proposed repeal of “IMT” in January 2016

The Government will end Municipal Property Transfer Tax (IMT) in January 2016, tax paid when buying a home. In their memorandum, the ‘troika’ had already suggested the transfer of IMT tax revenues to Municipal Property Tax (IMI).

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