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We’re in this together. Mick Hucknall, Simply Red


© 2018 Hilton Worldwide

algarve

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PLACE IT

T H AT

WA S

FEELS

M A DE

FOR

BE CAUSE

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LIKE

YOU WAS

Conrad Algarve Estrada da Quinta do Lago 8135-106 Almancil Tel. +351 289 350 700 www.conradalgarve.com


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Intro & Market Report

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Hugo Thistlethwayte on QP partnership

18 Golf

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The Campus

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Quinta do Lago vs. Vale do Lobo

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Market Intelligence

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A chat with van Gaal COVER

The humble sardine, Portugal’s favourite fish. EDITOR

Kerstin Buechner DESIGN & PRODUCTION

TSS Design, Loulé, PT T. +351 289 412 174 www.tssdesignco.com

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World Class Music

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QP Property Portfolio

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Savills Ski


6 Intro & Market Report

TO OUR ���� PR OPERTY GUIDE

I

n this 15th edition of our annual publication now renamed An Eye on the Market, we have once again aimed to provide comprehensive and up to date information on our market; from property taxation, legal processes, property management and rental, and running costs, to updating you on some news on the area. There are tips and comments from our team, and we have, of course, also showcased some of our properties currently featured in our portfolio. We want our clients to have all the information they need before buying or selling a property. Enjoy, and please do give us your feedback!

SO WHAT IS THE STATE OF THE MARKET? Anyone involved in the local property market in the Algarve during 2017 will have had a good and busy year. In summary, there is a big appetite for property. Visitor numbers are up and so is demand for properties. Now, at the beginning of 2018, there is less on the market than we have seen for over 15 years and this is pushing prices up. Please note that our commentary is focused purely on our area in and around the Quinta do Lago and Vale do Lobo resorts, and does not necessarily reflect the state of the market across the wider Algarve. Significant differences are property values, with the average price currently for villas within the two resorts being EUR 4.65m, and values across the wider Algarve possibly being closer to EUR 600,000. Our buyers are still predominantly British, and across the Algarve there seems to be more interest from French and Scandinavian buyers. Having said that, our statistics show that the number of our British buyers remains about the same as in the previous year, but when looked at as a percentage of all buyers, the number has come down. The reason for this is that

buyers from different markets are now also showing more interest in our area. We see an increase in demand from Belgian, French, Dutch, German, Scandinavian and also nonEuropean buyers. We put this down to various causes not least of all that Faro is very easy to get to and the fact that the Algarve is classed as one of the safest places to holiday. The cost of living in the Algarve is on the rise, but it is still low enough to add to the attraction. Just less than 40% of our clients have owned in the past, or continue to own, another second home or boat elsewhere.

AN EYE ON THE MARKET 2018


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70% of buyers are families, 25% couples over 60 and the remaining 5% are primarily investors. The vast majority of buyers visit the area on numerous occasions before buying. When they do purchase, 9 out of 10 are buying a holiday home, as opposed to a permanent home or as a pure investment. Usually buyers stick to their budgets, but 45% do invest more than they had planned. Mortgages are rare but using one is on the increase.

Interestingly, less than 10% of our buyers are interested in the energy grading a property has, and we have not experienced any occasions where a higher or a lower grade has influenced a buying decision. Most often buyers know someone who has already invested in property in the area. Most buyers use their property more than 4 to 6 weeks per year, but hardly any use it for more than 50% of the year. 50% rent their properties out to help cover running costs.

There has been much talk about the popularity of the Non Habitual Residency scheme and the Golden Visa. While we appreciate that throughout the rest of the country, many are buying and taking advantage of these schemes and are actually moving to Portugal, most of our buyers buy primarily for reasons of lifestyle and use their property mainly as a holiday home. It is very rare that they are buying for the NHR or a Golden Visa, although the numbers are increasing. With regard to the vendors, reasons for selling are predominantly that they either want to move to a bigger or a smaller property. Only approximately 20% sell to leave Portugal altogether. This has contributed significantly to the reduced amount of property on the market currently. Even though we are not fans of prices per square metre, we have tried to establish some statistics. Prices within the resorts vary significantly not only due to location; age also plays a big role in values. In the EUR 3m+ prime market, the average square metre price in 2016 was EUR 8,255, and in 2017 it was EUR 8,888 amounting to an interesting 7.6% increase. Plot values have increased also. In 2011, the average plot sold for EUR 1m. Up until the beginning of 2017, one could still buy a plot for EUR 2m and today the average plot price in Quinta do Lago is EUR 3m. This increase continues to be driven by simple supply and demand. As the area has exceptionally stringent building and development laws, it is most unlikely that supply will increase. There are parcels of development land left within both Quinta do Lago and Vale do Lobo, as well as some individual building plots, but most are resales. As prices increase, the demand for property is spilling over to surrounding areas and resorts, benefiting the wider property market. One of the secrets to the area’s success is the fact that it keeps on reinventing itself. As properties age, they are redeveloped with new designs, building materials and sometimes by new families. Resort developers have consistently reinvested in the infrastructure and facilities and if you knew the resorts from years gone by, (Quinta do Lago and Vale do Lobo were conceived over 40 and 50 years ago respectively) driving through them today, you can only marvel at how current they have remained. No wonder at their success.

Alison Buechner Hojbjerg (left) & Kerstin Buechner (right) QP directors, owners and sisters.


8 THE QP TEAM

C O M M E N T S T

oo often Alison and I are asked to comment on the market, or we are complimented on the success of our business, but sincerely it is the people on the ground, our team, who are the experts and who have made the company into what it is today. We are grateful not only for their work, but also for being such an exceptional and inspiring group of individuals. We can’t retire! It’s much more fun coming to work. Here are some of their comments:

DEBBIE PUGSLEY

AN EYE ON THE MARKET 2018

What you like most about QP The work environment. Such different personalities - we work hard and laugh lots… it’s amazing what important trivia you learn on a daily basis here. Market comment My husband Ian and I moved to Portugal in 1989 – that’s 28 years ago! So Quinta do Lago has been a huge part of my life. I remember in those early days of the 1980s that new villas were built in the Moorish style and plot prices in Quinta do Lago started at around GBP 80,000. That was huge in those days! When I joined QP, the market was on a real high and many sales were made to first time buyers, who would often see a property on their first visit and agree to buy before their flight home.

However, at the end of 2007, the world changed and for many it was a very worrying time, but Quinta do Lago and Vale do Lobo seemed largely unaffected. The buyer profile changed from the ‘new to Quinta do Lago first time buyer’ to savvy, existing owners investing further. These buyers understood that the area was very different and bought up property to add to their existing investments. Moving forward in time, the first time buyers returned, perhaps taking longer to make decisions, but they were definitely buying again. Our company grew and adapted to the increasing demand, taking on new staff and now with a brand new bigger office in Quinta do Lago and an additional office in Vale do Lobo, which opened in 2016, we are incredibly proud of what we have achieved. The market is stronger than I have ever seen and it’s good to see more demand from many different nationalities, although, largely because of the ease and availability of flights, many of our buyers still continue to come from the UK and Ireland.

R E B E C C A PAT T E R S O N What you like most about QP The amazing people I work with, who come from different countries and backgrounds, and all bring something different to the table.

What do you think makes us different and special? We work hard, long hours and long weeks and despite all the distractions of the fabulous weather and activities, we don’t let these affect our professional approach to the business. AH & KB also value really cool team events where we can have fun together, which helps us all gel and makes us a stronger team. Market comment I first took the plunge into real estate in 2005, and I would consider the current market to be the most stable I have seen. We’ve gone from the frenzied, financefuelled buying in 2007 to the overly cautious buying around 2011. Now the families who are looking come with purpose and determination to find their slice of our Algarve heaven. Despite it being predominantly a second home market, where many don’t really “need” to buy a home, the buyers are focused in a way that would normally be associated with their primary residence search. This just goes to show the value they attach to having a home here, and when you hear the wonderful lifelong memories of those that have already had the privilege to experience this, you fully understand why! This trend leads to an incredibly strong market, where new owners will keep their homes for several years, leading

to a shortage of properties on the market and a steady increase in prices.

R I TA C A S T E L O B R A N C O What you like most about QP The Vale do Lobo office!!!! Just kidding... I like absolutely everything!!! The brand mission: to perform at an extraordinary level, to set out to raise the bar for real estate in the area. The brand personality: young and fun but completely committed to deliver the best service to our clients. The team: our family environment, our culture of partnership and, last but not least, being part of the most outstanding player in the luxury real estate market, representing many of the country’s top properties and having the opportunity to meet an extraordinary group of people: our clients! What do you think makes us different and special? Lots of things! We are all quite fabulous ;-) special agents, and have been active in the area for over 20 years. We continuously adapt to the evolving market and strive to make the experience of buying and selling a total pleasure. We don’t see ourselves as just another real estate agent, but “THE” estate agent.


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the TEAM

KERSTIN Buechner Owner & Director

DEBBIE Pugsley

Senior Sales Executive Joined the company 2006

ALINA Hrituc

Sales Executive Worked at QP since 2012

REBBECCA Patterson

Sales Executive Worked at QP since 2013

M A R I O S a rd o

Sales Executive Worked at QP since 2017

TINA Billington

Administration Worked at QP since 2017

ALISON Hojbjerg Owner & Director

R I TA C a s t e l o B ra n c o

LUKE Begley

Sales Manager Vale do Lobo Worked at QP since 2015

Sales Executive Worked at QP since 2015

L I N A A b re u

K I M B E R L E Y T u c ke r

Office Manager Worked at QP since 2002

SUSANA de Almeida

Administration Worked at QP since 2016

Client Liaison Worked at QP since 2017

BRUNA Duarte

Administration Worked at QP since 2017


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Market comment The market is as vibrant as ever. Portugal and especially the Algarve seem to have finally captured the attention of the world, and it’s difficult to keep track of the number of tourism related prizes we have won in the past couple of years. The increasing number of celebrities that have decided to call Portugal home has also brought a lot of attention to the country. Our national football team brought the cup home and we even won the Eurovision song contest!!! What a year!!! :) All of the good press, backed up by extraordinary facilities, a secure environment, quality medical services, top golf courses, beautiful beaches on the doorstep, combined with the best weather in Europe, make it easy to understand this is the place where you have to be! The future seems sunny and fresh! So many opportunities here…it’s so exciting to be part of this business and this company!!!

LUKE BEGLEY What you like most about QP Listening to women talk about all the things that are good and bad for me. Good: Kale, beetroot, coconut oil to

eat, coconut oil to brush your teeth, coconut oil for your skin, various face cream products, organic anything. Bad: Sugar, gluten, coconut oil!, any face cream products, vegetables from Spain, Wi-Fi. What makes QP special? We have a team of dedicated professionals working full-time, 6 days a week, to ensure that we stay ahead of the game, both in terms of the number of sales we achieve, and the service we provide to our clients. (We also have the nicest cars!) Market comment 2017 really set the tone for the continued diversification of buyer being found in the Central Algarve. The numbers of new buyers of various European nationalities are not only increasing demand right now, but are also going to lead to further stability in the future, and less economic reliance on our historic buyers from the UK. Whilst a large number of buyers from these European countries seem to be choosing Portugal to live in right now because of the favourable tax environment, the feedback we are getting seems to suggest that these clients are buying for the tax benefits and staying for the

AN EYE ON THE MARKET 2018

Alison Hojbjerg, Rita Castelo Branco & Alina Hrituc

wonderful climate, fantastic food, beautiful scenery and quality of life we have here. All of this seems to spell a bright future for the property market and the Algarve as a whole!

ALINA HRITUC What makes QP special? “Choose a job you love and you will never have to work a day in your life”. Confucius was so right. This is us! We are a focused, professional and dedicated team; we have the best property portfolio in the area and we love what we do. I’m proud to be part of the QP team! Market comment Portugal has become a much sought-after piece of heaven. This year, Portugal has been elected ‘the world’s best holiday destination’ and has won 37 tourism ’Oscars’. Despite recent global political turbulence, the property market here continues to thrive and there is no sign of it slowing down, in fact the reverse can be seen.

MARIO SARDO What makes QP special? The Culture - Work Hard and Live Life to the Full. QP is a dynamic and innovative

company made up of people who have a passion for real estate and a commitment to offering the best possible experience to our clients. Market comment It is said that timing is everything, and what an exciting time to be living in the Algarve. The economy has seen a steady recovery over recent years; the Government has implemented favourable tax regimes attracting a global market, and with large investments into real estate, there is no doubt that the Golden Triangle is now well-established as the leading destination within Europe. These factors all support a continued demand from lifestyle purchasers searching for high quality properties set within a safe and secure environment. Despite the geopolitical backdrop, I am optimistic that established resorts in this area will continue to offer safe haven qualities and a continued lifestyle second-to-none.

LINA ABREU What you like most about QP I was very excited at the opportunity to join QP all those years ago as it had such a great reputation. It has a great work environment, the


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The market is as vibrant as ever. Portugal and especially the Algarve seem to have finally captured the attention of the world

offices are beautiful and I continue to enjoy being part of the team. I am constantly learning something new. What do you think makes us different and special? It’s the dedication of all the members of the team, and when it comes to the crunch, I love the way it’s all hands on deck! Market comment Having been in the market now for so many years, I love the relationships we have with our clients. There are people who bought property from us 10 and 15 years ago and they still pop in and out of the office. Many of our clients buy and sell almost as a hobby. The market is consistently vibrant and full of loyal fans.

KIMBERLEY TUCKER What you like most about QP We work hard but we also really enjoy the team time we spend together… whether it’s zip lining, lunchtime discussions on every subject you can imagine, group spinning or the cocktail-making rota, it’s always a giggle! P.S. Don’t listen

to Luke… we LOVE sugar!!! What do you think makes us different and special? There’s something incredibly special about a company that respects you as a person and goes out of its way to nurture you with support and training. It’s this forward-thinking mentality and appreciation that motivates and inspires you to work even harder, which is a winning combination not only internally , but most of all for our clients, who in turn receive the very best we have to offer!

TINA BILLINGTON What you like most about QP The team spirit What makes us special? Playing a part in the property market now for over 20 years I’ve experienced so much. What I love about QP is that we are a team of experienced professional individuals, all different, but we all really care. It’s attention to detail and the insistence on the very best quality in everything that we do. It’s all done to the best possible standard, which gives

that finishing touch to our service, from using the best photographers, producing quality brochures and making sure we provide accurate up-to-date information at all times. After all, our clients, the location we work in and the properties we promote deserve nothing less.

SUSANA DE ALMEIDA What you like most about QP Working in a successful company which values and promotes a spacious, bright and lovely work environment as well as a great atmosphere of friendship and respect. It’s fun to come to work. We work hard but we play hard as well!!! I am not criticised when I have a bad day... in fact I get a hug instead!! I adore the variety everyday is different. Everyday we learn something new. I enjoy opening and preparing the properties for viewings. Not only does it keep me fit, but I see the most fantastic properties and meet extraordinary people. I would not want to work anywhere else! I love being part of QP Savills!

As a true Algarvean, it’s good to see that the Algarve has become an all year round destination. And, of course, this is so good for the area. As I write this in late February, the almond blossom is out and it is hard to imagine a more beautiful place.

BRUNA DUARTE What you like most about QP I love the family feeling in the QP team. Everyone respects the other team members and everyone is appreciated for being an important piece of the QP puzzle. What makes us different? One of my jobs is being a “runner”. Before any property is shown by the sales staff, we go to the property, open it up and make sure that the sales people and their buyers have easy and quick access; no fiddling with keys or lights or shutters. It’s just another way we provide a unique service AND I get to see all of our beautiful properties!


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THE GUIDE 2018


13

A LASTING A

partnership

t Savills we deal with the finest international properties aided by our strong, well-established network, operating across 60 countries. Of those, our longest continuous running associate – 19 years – is QP, a company that truly understands 5-star service. Expertly steered by its owners and directors, Alison and Kerstin, QP’s knowledge of the region and their

enduring passion for what they do, chimes perfectly with Savills, inspiring our clients to invest in their dream holiday home.

In those nineteen years much has changed of course. Keeping true to its original core values of top-flight service and commitment to excellence, QP has established itself as the market leader for the best homes in the Algarve’s Golden Triangle. It now boasts 13 staff and impressive offices in both Quinta do Lago and Vale do Lobo. QP’s measured evolution is mirrored in Quinta do Lago and Vale do Lobo, longestablished resorts in a naturally beautiful and protected part of the Algarve, containing some of Portugal’s most desirable homes. Both have proved adept at staying remarkably true to their original masterplan whilst also continually improving and offering a visionary 21st century lifestyle. Their continued success is down to careful management coupled with understanding – and efficiently providing - the ingredients of a perfect holiday home for their demanding international clientele.

The lifestyle on offer gets better and better: secure with a fabulous infrastructure of world class leisure facilities, restaurants that range from juice bars to Michelin-stars, a year-round events calendar and an incessant emphasis on service. Quinta do Lago’s recently completed sports complex, The Campus, is a prime example, an inspirational addition for residents focused on wellness and healthy living. These facilities not only bring people to the resort year-round, but also explain the truly multigenerational appeal. This skilful modernising is also apparent in the properties for sale. Lakeside apartments, beach view villas, homes overlooking the tees; the architecture on offer is continually evolving as owners update and improve their properties, but only within thoughtful planning confines. Knowledgeable buyers have chosen this warm stretch of Portugal for over 40 years and it remains an overwhelming favourite with good reason.

So whether you come for the golf – over 100,000 rounds are played annually just on Quinta do Lago’s immaculately kept greens or the tennis, the gym or the beach, the varied social calendar or a multi-generation family holiday, you can trust QP to advise and assist you at every step. The best brands provide confidence, something that we at Savills understand very well, and that is why we are proud to associate with QP and through them with the magnificent resorts of Quinta do Lago and Vale do Lobo.

Hugo Thistlethwayte Head of International Residential T. +44 (0)20 7409 8876 E. hthistlethwayte@savills.com


14 a life at

VALE LOBO do

Richard Winter shares cherished memories of spending time with friends and family in Vale do Lobo over the past 40 years.

AN EYE ON THE MARKET 2018

T

wo locations have played a central part in my life: Cobham in Surrey and Vale do Lobo in the Algarve. I was brought up in Cobham, where my father was the local GP with a practice on the High Street. He was a sporting enthusiast, fanatical about racket sports in particular and he passed this passion on to me and my two elder brothers. Our childhood years were a carefree blur of sporting activity centring on St George’s Hill Tennis Club. Every year, many of our local family friends holidayed in Vale do Lobo and my family joined them for the first time in 1975. It was

the start of a decade of summer visits, the happiest of family times. We played tennis at the (then) Roger Taylor Tennis Club, spent long afternoons on the beach eating at Maria’s and Julia’s, before heading back to the Rotunda pool, and then preparing for long, warm evenings at the Praça, the centre of Vale do Lobo’s social life. Playing sport, sitting with friends in the sunshine, and being among a wide circle of friends and family while our parents drank coffee and cognac late into the night: these things are ingrained in my DNA, thanks to that childhood in Cobham and Vale do Lobo.

Fifteen years ago, when I joined Savills, their relationship with QP was in its infancy, and I was fortunate to start working with Alison, Kerstin and their ever growing team. Since then, I have visited QP at least once a year and, in turn, they come to our offices and meet our clients. The locations are some 1,500 miles apart and the climate is very different, but the synergy between our markets is remarkably similar: active buyers looking to invest in a comfortable home that will provide an outdoor, healthy lifestyle in a safe and natural setting. Over the years, since my first visit, there have been some significant changes. Maria’s has


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a much better menu than the simple chicken and chips we ate in the 70s for example, and new villas have become larger and more impressive - but there’s no doubt that the relaxed beach atmosphere is still intact, enticing new generations to holiday there. A few years ago, my brothers and our families took our parents back for a nostalgic visit, and we all loved it as much as ever. Vale do Lobo is a wonderful place to holiday and own a property: totally relaxing, within twenty minutes of the airport and with first class facilities. The circle of life will be further confirmed this spring when I holiday at Vale do Lobo with

my wife and our three children. Our eldest daughter is already booked into a tennis course, training on the same courts I played on three decades before, and no doubt her day will follow the same rhythm: running happily between the tennis courts, pool, beach and villa with her family and friends, and setting the tone – I hope – for teenage holidays for many years to come.

Richard Winter Regional Director Head of Surrey, Berkshire, Hampshire & West Sussex


A TA S T E O F T H E G O O D L I F E . To sit down to enjoy great food, with wonderful company, in a beautiful setting is nourishment like no other. At Quinta do Lago, dining is a time to make special memories with friends and loved ones while enjoying a culinary experience that will stay with you long after the night is done.


Casa do Lago serves fresh and locally sourced seafood to tables overlooking a serene lake and the Algarve’s breathtaking coastline. For authentic and classic French cuisine, Casa Velha is a Michelin-recommended beacon of fine dining. Tuck in to a nutritious and tasty brunch at PURE, the new home of healthy-eating at Quinta where you can choose from the freshest ingredients for your made-to-order meal. The stylish and relaxed atmosphere at The Magnolia Hotel invites you to sample our signature burger at the poolside restaurant, while the menu at Bovino Steakhouse boasts prime cuts of dry-aged beef and exotic cocktails to toast to the good times. It’s all waiting for you at Quinta do Lago.

BOOK NOW! T: +351 289 390 700 E: info@quintadolago.com www.quintadolago.com


18 Pronunciation: /gälf/gôlf/   a game played on a large open-air course, in which a small hard ball is struck with a club into a series of small holes in the ground, the object being to use the fewest possible strokes to complete the course.

Quinta do Lago

South Course Holes: Par: Length: Handicap:

18 72 6,488 m Men 28, Ladies 36

Green fees: 18 holes Rack rate EUR 177 to 230 9 holes Rack rate EUR 108 to 140 Quinta do Lago

North Course Holes: Par: Length: Handicap:

18 72 6,156 m Men 28, Ladies 36

Green fees: 18 holes Rack rate EUR 210 to 260 9 holes Rack rate EUR 128 to 158 Membership: 20 year title E UR 22,680 (one person) + EUR 35,915 (2 people) Annual subscriptions: Certificate holder: Spouse or family: Juniors (under 21):

EUR 3,236 EUR 2,174 EUR 895

Contact details: Clube do Golfe da Quinta do Lago Apartado 2138, Quinta do Lago 8135-024 Almancil T. +351 289 396 141 E. office@cgql.com

GPS: 37 05’ 21.00” N – 8 01’ 84.30” W GPS: 37 04’ 39.00” N – 8 02’ 39.70” W

Laranjal

Holes: 18 Par: 72 Length: 6,062 m Handicap: Men 28, Ladies 36 Membership: Laranjal does not charge a joining membership fee

Pinheiros Altos Holes: 27 Par: 72 Length: Oliveiras/Pinheiros 6,028 m Pinheiros/Sobreiros 6,199 m Sobreiros/Oliveiras 6,137 m Handicap: Men 28, Ladies 36 Membership: Principal Member: Spouse: Connected Member: Junior:

EUR 3,840 EUR 1,870 EUR 1,870 EUR 600

Green fees: 18 Holes Rack rate EUR 85 to 130 9 Holes Rack rate EUR 50 to 70 Contact details: T. +351 289 359 910 E. pinheirosaltos-golf@jjwhotels.com www.pinheirosaltos.com GPS: 37.048064 N – 08.008164 W

San Lorenzo Holes: Par: Length: Handicap:

18 72 6,247 m Men 28, Ladies 36

Membership: Joining fee per person: For 21 years: EUR 60,000 For 10 years:  EUR 30,000    Annual Subscriptions: Principal member: Spouse: Green fees: 18 holes 9 holes

EUR 4,070 EUR 2,680

Vale do Lobo

Royal

Holes: 18 Par: 72 Length: 6,059 m Handicap: Men 28, Ladies 36 Vale do Lobo

Ocean

Holes: 18 Par: 73 Length: 6,137 m Handicap: Men 28, Ladies 36 Admittance fee: No joining fees for owners Per person: EUR 3,000 Annual Subscriptions: Proprietor’s club member: Principal member: EUR 2,735 Annual couple: EUR 4,920 Visitors: Principal member: EUR 6,065 Annual couple: EUR 8,235 Green fees: 18 holes Rack rate EUR 85 to 190 9 holes Rack rate EUR 45 to 95 Contact details: T. +351 289 353 465 E. golf@vdl.pt

GPS: 37 03’ 41.32’’ N – 8 04’ 47.13’’ W

Timetable: Monday - Sunday (Summer) (Winter)

06:30h - 19:00h 06:30h - 18:00h

Rack rate EUR 190 Rack rate EUR 95

Contact details: T. +351 289 396 522 E. sanlorenzo@jjwhotels.com www.sanlorenzogolfcourse.com GPS: 37.030938 – 8.011388

AN EYE ON THE MARKET 2018

Annual membership fee: Single: EUR 3,800 Couple: EUR 5,200 EUR 500 Junior *: * parents have to be members

Green fees 18 holes Rack rate EUR 177 to 230 9 holes Rack rate EUR 106 to 140 Contact details: T. +351 289 390 700 E. reservas@quintadolagogolf.com

GPS: 37 02’ 44.98” N – 8 01’ 03.06” W

Championship Golf courses Wo r l d c l a s s G o l f A c a d e m i e s, Ta y l o r M a d e Pe r f o r m a n c e C e n t e r, Wo r l d B e s t G o l f Aw a r d s.


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Quinta do Lago and Vale do Lobo feature some of the best golf in Europe


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A

brand new, state-of-the-art, multi-sports, high-performance complex right on our doorstep here in Quinta do Lago! I met with Michael Breen, who heads The Campus and who was responsible for the project’s vision. He couldn’t be more enthusiastic about this new facility in the world class resort of Quinta do Lago. Michael’s background is in high performance sports and leisure, and he has previously worked with one of Britain’s greatest Olympians, Sir Steve Redgrave. We are sitting in the chic café area of the super-cool, beautifully interior-designed tennis pavilion drinking freshly-squeezed juice, from where you can watch the tennis and padel courts. “These courts have slow court certification” he boasts. I’ve no clue what that means, so he explains that the courts are Davis Cup standard, the same as at the Australian Open. He tells me that all the facilities are specified to the highest standard, to world governing body performance criteria. The philosophy and ethos of The Campus is to attract top athletes from around the world, as well as tourists, residents, families and those aspiring to be athletes, wishing to enjoy the world class facilities in one of the most beautiful resorts in Europe. “It’s all about attention to detail”, says Michael.

Recently the Beijing Guoam football team, one of the wealthiest teams in the world, chose The Campus for their training destination. “We can’t attract this type of athlete without offering totally unique services. Other top clubs from the UK and Europe send their teams to train with us, and so we need to be at the top of the game. The Campus provides a home from home experience to elite athletes across a broad spectrum of sports. Our team includes sports scientists, physiotherapists, sports doctors and psychologists, strength and conditioning coaches, and nutritionists. “This is multi-generational and we have a holistic approach to sports and exercise. We want especially children to understand what sport is all about and get them involved in a broader way, above all showing them how time can be spent away from constant digital entertainment.” Music to any parents’ ears. The top-notch sport facilities include: a hybrid Desso Grassmaster football pitch of stadium quality, 4 acrylic tournament tennis courts, 2 synthetic clay tennis courts, a 25 m temperature-controlled swimming pool, 4 fully floodlit padel courts, a huge 200 m highperformance gym, recovery and treatment rooms, a bar and restaurant. “Our goal is to create the ultimate destination. Even our

changing rooms, which are the very last experience when leaving us, are equipped with really good hairdryers, air conditioning, personal changing spaces and laundry facilities, so that everyone can comfortably change after a day at The Campus and then come to relax at the pool bar or restaurant.” They really have thought of everything. As I’m leaving, I’m introduced to Irish Paralympian Mark Rohan, who achieved 5 gold medals at Olympic and world championship standard. Mark heads up the bike shed at The Campus and when he hears that I do a bit of mountain biking, he tells me about the professional bikes that he ergonomically fits to each cyclist, the same bikes, apparently, that team GB ride, and suddenly I find myself signing up to join Mark and a team of mad cyclists on their next 85 km spin, which leaves from The Campus 3 times a week!! If the other coaches are anywhere as encouraging and as enthusiastic as Mark, then The Campus will be a force to be reckoned with!

AN EYE ON THE MARKET 2018


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THE CAMPUS! By Alison Hojbjerg


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VS

QUINTA DO LAGO VALE DO LOBO

AN EYE ON THE MARKET 2018


23 R E S O R T S TAT I S T I C S

GUIDE PRICES: Property type m² min – max Plot size m² Asking price EUR Apartments 1–3 78–250 n/a 200,000–3,200,000 Townhouses 2–4 100–300 90–600 275,000–1,500,000 Villas 4+ 200–2,000 1,600–3,600 2,200,000–18,500,000

Number of villa plots:

Number of apartments:

Property type Apartments 1–3 Townhouses 2–3 Villas 3–6

m² min – max 80–256 100–311 150–1,000

Plot size m² n/a 90–500 700–5,000

Size:

Number of villa plots:

Number of apartments:

Size:

650

695

hectares

1267

GUIDE PRICES:

450

hectares

800

700

Asking price EUR 300,000–1,285,000 340,000–1,290,000 875,000–20,000,000


24 QUINTA DO LAGO Resort Statistics

N AT I O N A L I T I E S

Owners

Buyers

54%

United Kingdom

63%

20%

Ireland

9%

10%

13%

3%

Portugal

Other European

Others

5%

17%

6%

P L O T I N F O R M AT I O N • Size from 1,600 m² to 3,600 m² (average 2,000 m²) • Construction areas (above ground) 20% or 25% depending on location

• Average current plot price of EUR 1,600 per m²

• Quinta do Lago development sites start from EUR 1,400 per m² • Build allowance of 20 – 25% depending on location • Construction costs vary but start from EUR 2,000 per m²

HIGHLIGHTS

RESORT FACILITIES

• Stunning location bordering the Ria Formosa

• 5 golf courses with four driving ranges • Paul McGinley Golf Academy • Pinheiros Altos Golf Academy • TaylorMade custom fitting centre • Mini golf • Beach and lake with water sports • 16 restaurants and bars • 3 on-site supermarkets • Medical centre • Shopping at Quinta Shopping and Bougainvillea Plaza • 5 hairdressing salons • 4 spas • 5 gyms including The Campus, Quinta do Lago’s new

nature reserve • Low density and controlled development ensuring a wonderful tranquil setting • Easy walking distance throughout the resort to various facilities • 5 star security with highly trained first response team • Security of investment • Vibrant and welcoming golf community providing 99 challenging holes of world class golf • Professional level sports and fitness complex • Internal lake with supervised family activities including paddle boarding, sailing, and inflatable assault course AN EYE ON THE MARKET 2018

professional level fitness complex

• Hotel Quinta do Lago, Conrad Algarve Hotel, Monte da Quinta Hotel, QDL Magnolia Hotel

• Bank and post office • 24 hr security and first response team • Events calendar including picnics in the park, beach parties, and golf clinics.


25

VALE DO LOBO Resort Statistics

N AT I O N A L I T I E S

Owners

Buyers

60%

United Kingdom

65%

7%

Ireland

12%

14%

12%

Portugal

Germany

5%

5%

2%

Netherlands

Others

6%

4%

8%

P L O T I N F O R M AT I O N : Oceano Clube • Plot sizes from 650 m2 to 4,500 m2 • Construction areas (above ground) from 250 m2 to 350 m2 • Plot prices from EUR 1,300,000

Vale Real • Plot prices from 840 m2 to 1,600 m2 • Construction areas (above ground) from 314 m2 to 518 m2 • Plot prices from EUR 1,150,000

HIGHLIGHTS

RESORT FACILITIES

• 55 years since its inauguration, Vale do Lobo is one of

• 2 golf courses with golf academy and

the largest luxury family resorts in Portugal • The resort offers a true sense of community • Superb all year round events including live music performances, children’s activities, art exhibitions and so much more • World renowned golf club with regular competitions and tournaments • Unrivalled Wellness centre including spa, gym and medical facilities • Security & medical assistance available 24/7 • 24 hour reception - help and assistance for everyone • Future plans for development of 600 properties and a 5 star hotel

practice facilities

• One of the largest tennis facilities in Portugal (12 tennis courts and 3 padel courts)

• Supermarket • 2  km of pristine beach • 15 restaurants, bars & night club • Kangaroo Kiddies Club • Medical centre • Spa & gymnasium • Resort circuit bus • Bank • Art gallery • Boutique shops • Victor Piccardo hair salon • Conference facilities • Hotel Dona Filipa


1986 2011


INTELLIGENCE

Market

BUYING PROCESS TA X AT I O N LEGALITIES

Vilamoura Marina

To reinforce our commitment to providing the very best service, in this regular section of the Guide, we feature the buying and selling procedures, the cost of owning property in the area, as well as important information on tax and legal matters. In addition, the benefits of the Non Habitual Resident (NHR) regime and Golden Visa are discussed, along with property management and maintenance. To ensure our information on this wide range of subjects is current and correct we have enlisted the help of numerous local and international professionals. We hope you find these pages helpful – should you have any questions, please do not hesitate to call us. We pride ourselves not only on the calibre of property that we market, but also in the service we provide. Your QP Team

L E G A L C O N S U LTA N T S

Dr Josué Coelho International Law Office EN125/10 Estrada do Aeroporto Edifício Celfil, 4 8005-146 Montenegro T. +351 289 887 440 F. +351 289 887 449 E. josue.s.coelho-177f@adv.oa.pt Dra Elia Apolo Elia Apolo Advogados Responsabilidade Limitada Rua Cristóvão Pires Norte Edifício Norte, 1ºB Apartado 3365 8135-117 Almancil T. +351 289 395 570 F. +351 289 395 580 E. eliaapolo@mail.telepac.pt


28 MARKET INTELLIGENCE

THE BUYING PROCESS THE LETTER OF INTENT AND A P P O I N T I N G A L O C A L L AW Y E R

Once you have found the property you would like to buy, and your agent has successfully negotiated a deal on your behalf, a professional agent will prepare a ‘letter of intent’. This document clearly states the agreed price, exchange and completion dates, and what is to be included. At the same time, we recommend that you instruct a local lawyer to represent you in the purchase. Your signed letter of intent will be sent to your legal representative informing them of the agreed terms.

DID YOU KNOW? That in Portugal it is possible to complete a property purchase within 4-6 weeks.

P R I VAT E P R O P E R T Y O W N E R S H I P

AN EYE ON THE MARKET 2018

Exchange of contract Once instructed, your lawyer will begin all the necessary legal searches on the property. These include ensuring the seller has clear title to sell and that there are no outstanding charges on the property. They will then prepare the Promissory Contract (Contrato Promessa de Compra e Venda), which is a legally binding contract between buyer and vendor and is signed by both parties in the presence of a notary/lawyer. The Promissory Contract will state the buyer’s and the vendor’s details, as well as those of the property, the schedule of payments, completion date and any special terms agreed by both parties. Upon signature, it is normal procedure for the buyer to pay the vendor a 10% deposit, usually via the lawyer’s client account. Under Portuguese law, if the vendor does not fulfil his contractual obligations, he is liable to refund the deposit in double to the buyer. If the buyer is in breach of contract, the deposit is non-refundable.

Completion The Final Deed (Escritura) is the official deed of transfer of ownership from the vendor to you. It will be signed on the agreed date at the notary’s office, either by you or by your lawyer, if you have opted to give them power of attorney. The balance of the purchase price is now paid, and the notary records the transaction in the official record. Once the deed and all other associated transactions are completed, you are then registered as the new owner by your lawyer in the Land Registry (Registo Predial). Buyers should have a copy of this registration. Fiscal number To purchase a property in Portugal you will need a Portuguese fiscal number. This fiscal number will be for you as a non-resident and therefore has no tax implications in Portugal. Your lawyer will normally advise you and help you to obtain one.


29

PROPERTY OWNERSHIP VIA A C O R P O R AT E S T R U C T U R E

under Portuguese or other jurisdiction connected with the parties, safeguarding the formalities applicable to the transfer of the shares/rights in the jurisdiction of the company’s domicile.

Exchange of contract Many high-end properties are owned in a corporate structure. The property itself is an asset of the company and buyers purchase the company’s shares. These structures are usually domiciled in Malta or Delaware; however, there are several other white-listed jurisdictions around the world. If the property you choose is in one of these structures, your lawyer will carry out the normal legal searches on the property and undertake a due diligence on the corporate structure through a request to the management company that binds them in accordance to their regulations. This will clarify the fees, warranties, representation, history and legal procedures of the company. A Share Purchase Agreement will then be prepared and, upon signature by both parties, all the conditions of the transaction are secured, and a usual 10% deposit will be paid to the vendor, via the lawyers’ clients’ account. This transaction takes place under the jurisdiction of the company’s domicile but can also take place

Completion The process is simply completed by both parties fulfilling the terms described in the Share Purchase Agreement and the buyers transferring the balance of the purchase price to the vendors, again usually via the lawyers’ clients’ account. Afterwards, the respective management company will transfer the share ownership from vendor to purchaser. This process is quick, simple and in English.

THE BUYING COSTS

scale according to the price of the property, up to 6% on residential properties and 6.5% on other properties including plots of land for construction. The stamp duty is a flat rate of 0.8% of the property price. Your lawyer will always advise you of these costs at an early stage. The transfer tax, stamp duty, notary and registration fees are payable by the purchaser upon signature of the deeds at the public notary and at the Land Registry, when the transfer of property ownership is registered. Corporate Ownership In the case of a share transfer process, the IMT, notary, stamp duty and registration fees are not applicable. The cost to register the new beneficial owner is between GBP 1,000 to 1,500 payable to the management company.

Legal expenses Lawyers’ fees normally vary from 1% to 2% of the purchase price. Private Ownership IMT & IS - Property Purchase Tax & Stamp Duty This is the Portuguese Property Transfer Tax which is payable by the purchaser prior to completion. The rate is variable and is based on a sliding

SALES AGREED IN GBP VS. EUR GBP EUR

2007

75%

25%

2016

23%

77%

2017

6%

94%


30 MARKET INTELLIGENCE

PROPERTY H E R E I S A S U M M A RY O F T H E TA X E S APPLICABLE TO BUYING, OWNING, SELLING OR INHERITING PROPERTIES IN PORTUGAL

DID YOU KNOW? Between close relatives there is no inheritance tax in Portugal.

The VPT, or rateable value of properties, is the value attributed by the tax authorities to properties for tax purposes and is the base used to calculate property taxes, or in certain cases, to determine the minimum taxes applicable to property transactions. The VPT of properties for habitation and plots of land for construction is updated every three years, based on factors corresponding to 75% of the currency devaluation coefficients fixed annually by the government. For income tax purposes, this can also be revalued at the request of the property owner within three years of the last revaluation.

AN EYE ON THE MARKET 2018

IMT Property Purchase Tax – Paid on the acquisition of a property, this tax is payable by the purchaser prior to completion of the transaction. On properties for habitation the rate varies according to the purchase price of the property and can go up to 6%. On rustic land (non urban) the rate applicable is 5% and on plots of land for building or other types of properties the applicable rate is 6.5%. The minimum amount on which the IMT can be paid is the VPT, even if the sales price is lower.

on the value. This tax is based on the VPT and can vary between 0.3% and 0.45%. Within this limit, the rate is fixed annually by the council of the area where the property is located. In the Council of Loulé, the rate applicable for 2017 is 0.30% down from 0.38%. The IMI for rustic (nonurban) properties remains at 0.8%. To calculate the IMI, we apply the following rates to the VPT:

Stamp duty, notary and registration fees These have to be paid by the purchaser, prior to signing the notarial deed and the registration of the property into the buyer’s name. The stamp duty on the purchase is 0.8% of the sales price. The minimum amount on which the stamp duty can be paid is the VPT, even if the sales price is lower. Notary and registration fees will usually not exceed EUR 1,000.

URBAN PROPERTIES

IMI Annual Property Tax – Payable yearly in arrears in two or three instalments, depending

RUSTIC

0.30% to 0.45% (determined annually by each council) Applicable in 2017:

· Loulé council:

0.30%

0.80%

· Faro council:

0.45%

0.80%

· Albufeira council:

0.30%

0.80%


31

NEW AIMI - ADDITIONAL MUNICIPAL PROPERTY TAX

Please note that property taxation increases if the company owning the property is domiciled in a ‘blacklisted jurisdiction’. The rate applicable remains 7.5% both for IMI and AIMI.

Capital Gains Tax – Private Ownership On the sale of a property, there is currently a capital gains tax to pay at a rate of 28% for non-resident individuals and 25% for companies (non-residents). This tax is calculated on the difference between the sales price and either the purchase or construction price of the property, if applicable, index linked or its first rateable value index linked whichever is the highest. There are costs that you can use to offset against this tax, such as refurbishments made to the property in the past 12 years, taxes, notary and registration fees paid at the time of acquisition of the property, and the real estate agent fee. If the property you are selling is your main residence, and if you reinvest the proceeds of the sale within 36 months, in the acquisition, construction or refurbishment of another property designated as your main residence, within the EU territory or in a territory belonging to the European Economic Area with whom Portugal has agreements for the exchange of information in tax matters, you can avoid the payment of this capital gains tax. Capital Gains Tax – Corporate Ownership Since January of this year, new legislation has been implemented with the 2018 budget, making the payment of capital gains tax in Portugal on the sale of the shares of capital or similar rights in any entities (which are not resident in the Portuguese territory) mandatory. Inheritance Tax – Between close relatives there is no inheritance tax in Portugal, i.e. parents/ children and spouses although on gifts you have to calculate a 0.8% stamp duty based on the VPT. Any other situations of inheritance or gift will be subject to stamp duty at a rate of 10.8% of the VPT.

Privately Owned Property

White-listed Corporate

IMT Property Purchase Tax

Properties for habitation up to 6% Rustic land 5% Plots of land for construction and others 6.5%

No IMT

Other Purchase Costs

0.8% stamp duty No stamp duty or registration fees +/- EUR 750 notary and registration fees Legal fees 1% to 2% Legal fees 1% to 2%

Capital Gains Tax

28% on the profit in Portugal for non-residents

Please seek professional guidance

Annual Running Costs of Company

None

Between 1,500 and 4,500

IMI Annual Property Tax

0.3% to 0.45% 0.8% rustic land

0.3% to 0.45% 0.8% rustic land

AIMI New additional IMI

Please see table above

0.4%

Annual Fiscal Representation

+/- 250

+/- 550

AIMI (known as an additional IMI) was created in 2016 to compensate for the termination of the IS tax which taxed property owners 1% of the VPT if that figure was EUR 1 million or more. The AIMI does not apply to all types of property as the law excludes: rustic land (non-urban) properties and properties registered as commercial, industrial or service providing. Therefore, the AIMI will apply to the remaining properties, which include apartments, houses and plots for construction, amongst others. To calculate the AIMI, we use the combined total value of the VPT of all properties owned by each individual (except the properties excluded from AIMI) and apply the following rates to the sum of VPT obtained:

C O M PA N I E S

PRIVATELY OWNED PROPERTY

0,4% on the total amount

Up to the value of 600,000

No AIMI

Value between 600,000 and 1m

0,7% on the value between 600,000 to 1m

Valued above 1m

0,7% on 400,000 (= 1m - 600,000) + 1% on value in excess of 1m

Example 1: A company owned property with a VPT of EUR 2m used to pay 1% IS (Stamp Tax) on the total amount of VPT, i.e. EUR 20,000 per year. With this new AIMI tax, this property owner will now pay a total of EUR 8,000 annually. Example 2: An individual who owns 3 properties not excluded from AIMI with a total VPT of EUR 580,000. The owner has no AIMI to pay. Example 3: An individual who owns 2 properties not excluded from AIMI with a total VPT of EUR 900,000 will pay the following AIMI: AIMI = (900,000 - 600,000) x 0.7% = EUR 2,100.

Example 4: An individual who owns 2 properties not excluded from AIMI with a total VPT of EUR 1,200,000 will pay the following AIMI: Value between 600,000 and 1,000,000 = 400,000 x 0.7% = EUR 2,800 Value above 1,000,000 = 200,000 x 1% = EUR 2,000 So, the total AIMI to pay is EUR 4,800.

PROPERTY TAXATION

NB: Percentages are on the VPT, the rateable value, not current market values. Please note this is general information and for specific advice you should contact a lawyer or tax advisor.


32 MARKET INTELLIGENCE

PRIVATE VERSUS CORPORATE OWNERSHIP

DID YOU KNOW? Despite the EU, the OECD and the Global Forum all rating Gibraltar as “largely compliant”, Portugal continues to keep Gibraltar on the Tax Haven Blacklist.

Buying and owning a property in one’s own name or via a corporate entity is a question many are faced with when buying a property in our area. There are pros and cons for each which should be taken into consideration. The actual process of both is described in the Buying Process in this Guide on page 28 and you should take advice from your legal and tax professionals.

P R I VAT E O W N E R S H I P W H AT A R E T H E B E N E F I T S ? The most important benefit is that the purchase is very straightforward in Portugal. We do still recommend you use a local lawyer who can ensure that the property and its paperwork are in order. Apart from that, one does not have to maintain any corporate structure which varies from EUR 1,500 to EUR 4,500 annually, and annual fiscal representation is marginally less expensive. You can also avoid the payment of the AIMI if the rateable value of the properties is for each owner/co-owner below EUR 600,000.

C O M PA N Y O W N E D P R O P E R T Y W H AT A R E T H E B E N E F I T S ?

AN EYE ON THE MARKET 2018

Succession planning – Where beneficial owners are husband and wife, the beneficial ownership of the shares can be held jointly with rights of survivorship so that if either of them should die, the beneficial ownership automatically passes to the surviving spouse. Upon the death of the surviving spouse, the transfer of ownership to the heirs is made easier, as the legal title to the property remains

the same, thus avoiding the necessity of obtaining recognition of the validity of a nonPortuguese will in Portugal. Confidentiality – Buyers and sellers benefit from a degree of anonymity although this benefit is now substantially reduced due to the new legislation implemented in Portugal in 2017 which, among other measures, approved the Regime of the Effective Beneficiary’s Central Register, in an effort to support the prevention of the use of the financial system for the purpose of money laundering or financing of terrorism. This law came into force on 20th November 2017, and has yet to be regulated. The costs involved – When the property is sold via a sale of the shares in the company, there are advantages as the transfer tax, notary and registration fees are not applicable. However, there are also extra costs in running these companies and the value of the property needs to justify these costs. If a property has a value of under EUR 500k this is perhaps not the best option. Your lawyer will be able to advise you on this. Please also refer to the Property Taxation table on page 31 for further information.


33 For expert advice please contact: Phil Cartwright – Abacus Gibraltar T. +350 200 78267 ext 402 or +350 200 78777 E. philip.cartwright@abacus.gi Anne Darlington – Abacus Algarve T. +351 289 396 277 or +351 969 016 748 E. anne.darlington@abacus.gi

Which Jurisdiction? The two most widely used jurisdictions which have suitable holding company regimes for asset owning structures are USA (Delaware) and Malta. Neither of these are considered fiscally privileged by the Portuguese government; they have flexible and well established legal systems, uncomplicated corporate compliance requirements and have re-domiciliation legislation in place. The USA has a sophisticated and flexible corporate legal regime and one state in particular, Delaware, is commonly used for property ownership.

For clients looking for an EU jurisdiction, Malta’s tax regime is suitable for basic property holding structures. Although generally a civil law jurisdiction, Malta’s company law is broadly very similar to the UK and other common law jurisdictions. Both jurisdictions are relatively inexpensive, but because the statutory compliance requirements are greater in Malta than Delaware, the administration of a Maltese company is slightly more expensive than Delaware.

CURRENT JURISDICTIONS O F C O M PA N I E S Delaware 84% Malta 7% UK 1.5% NZ 0.5% Rep. of Ireland

0.5%

Blacklisted Jurisdictions

6.5%

P R I VAT E LY O W N E D P R O P E R T Y V S A C O R P O R AT E S T R U C T U R E Corporate Structure Private Owned

2007

89%

11%

2016

60%

2017

40%

50%

50%


34 MARKET INTELLIGENCE

NON HABITUAL RESIDENTS REGIME

EUROPE’S BEST KEPT SECRET Portugal offers a very attractive tax regime for individuals who become tax resident in Portugal, referred to as Non Habitual Residents (NHRs). This regime provides for a flat personal income tax rate of 20% for qualifying (self) employment income from activities performed in Portugal and a tax exemption for almost all foreign source income.

For expert advice please contact: Leendert Verschoor – PwC Partner T. + 351 213 599 631 E. leendert.verschoor@pt.pwc.com www.pwc.pt/en/fiscalidade/individuals-taxation.jhtml or Luis Filipe Sousa – PwC Senior Manager T. + 351 213 599 671 E. luis.filipe.sousa@pt.pwc.com www.pwc.pt/en/fiscalidade/individuals-taxation.jhtml

The Portuguese economy has become increasingly diversified and service-based since the country joined the European Union (EU) in 1986. Portugal ranks 42 out of 137 countries in the 2017-2018 World Economic Forums’ Global Competitiveness Report and ranks 29 out of 190 countries in the 2018 World Bank Doing Business Report.

AN EYE ON THE MARKET 2018

Add free remittance of funds, a friendly residence permit regime allowing for free movement within the Schengen area and the possibility of applying for Portuguese nationality and consequently an EU passport, the absence of wealth tax and gift and inheritance tax, and it is clear why Portugal is a very attractive location. The country is recognised as a premium tourism and real estate tourism location, as well as a leading EU country in R&D and information technology. The government has launched an economic strategy focused on boosting exports and foreign direct investment.

2017-2018 WORLD ECONOMIC FORUMS’ GLOBAL COMPETITIVENESS REPORT

Portugal ranks

42 out of 137 countries

2018 WORLD BANK DOING BUSINESS REPORT

Portugal ranks

29 outof 190 countries


35

P O R T U G U E S E TA X R E G I M E F O R N O N H A B I T U A L R E S I D E N T S

DID YOU KNOW?

The NHR tax regime, which is a beneficial Personal Income Tax (PIT) regime, is

NHRs will be exempt from PIT on salaries of a nonPortuguese source.

available to individuals becoming tax resident in Portugal, provided they were not Portuguese tax resident in any of the previous 5 years. The status is granted for a period of 10 years. Portugal is committed to attract foreign talents, as well as High Net Worth Individuals (HNWIs) and their families.

A P E R S O N I S C O N S I D E R E D TA X RESIDENT IN PORTUGAL IF ONE OF THE FOLLOWING CONDITIONS IS MET:

• Spend more than 183 days, consecutive or not, in Portugal in any 12-month period starting or ending in the fiscal year concerned; or

• Regardless of spending less than 183 days

in Portugal, maintain a residence suggesting being a habitual resident in Portugal during any day of the period referred above.

Under certain circumstances, split-year residence is possible, i.e. taxpayers may be regarded as tax resident during only part of the tax year and as non-resident for the remaining part. NHRs are subject to a reduced flat 20% personal income tax rate on salaries, as well as on business and professional income, of a Portuguese source arising from “high valueadded activities of a scientific, artistic or technical nature”, as per a list published by the Portuguese tax authorities. As a result, multinational corporations will have a huge advantage in locating their Centre of Excellence / Shared Service Centres in Portugal and Portuguese companies will have a significant stimulus to attract the best foreign talents. NHRs will be exempt from PIT on salaries of a non-Portuguese source, if such salaries were subject to tax in the country of source under an existing double tax treaty (DTT) or, if no DTT exists, provided that they were effectively taxed in such country. Business and professional income of a nonPortuguese source relating to “high valueadded activities of a scientific, artistic or technical nature”, as well as from intellectual or

industrial property or ‘know-how’, earned by NHRs abroad is exempt from PIT, provided such income could be taxed under an existing DTT or could be taxed in another nonblacklisted jurisdiction, in accordance with the provisions of the OECD Model Tax Treaty. It is not necessary that the income is actually taxed, but merely that the country of source has the right to tax it. Rental income, capital gains on the sale of foreign real estate and investment income, such as dividends and interest, from a non-Portuguese source are also exempt from PIT, provided the conditions mentioned above are met. Pensions paid from abroad to NHRs are also exempt from PIT, if such pensions are subject to tax under an existing DTT or if the pension is not considered as obtained in Portugal and the related contributions did not give rise to a PIT deduction in Portugal. Since most DTT grant exclusive taxation rights to the country of residence (Portugal), in practice this means that the pension income may end up not being taxed in Portugal or in the country of source. HNWIs in Portugal may be able to accrue their wealth in a friendly tax environment, to dispose of their assets while benefiting from tax exemptions, to pass on their wealth or estate without inheritance or gift taxes to the next generation and/or to enjoy their retirement without tax leakage on their pensions.

WHY LIVE AND INVEST IN PORTUGAL

• A 20% flat rate for Portuguese (self)

employment income from qualifying activities and exemption for almost all foreign source income is available for NHRs;

• No gift and inheritance tax for assets outside

of Portugal. Gift and inheritance of Portuguese assets to spouse, descendants or ascendants benefit from a tax exemption. Inheritances or gifts of Portuguese assets to other individuals will be subject to a flat 10% stamp tax rate;

• No wealth tax and free remittance of funds either to Portugal or abroad;

• Beneficial treatment for pensions and other life insurance products (including unit linked) may further significantly reduce the effective tax burden on capital invested;

• Portuguese companies may take advantage of EU non-discrimination rules and EU Directives on mergers, dividends, interest and royalties, as well as DTT signed by Portugal;

• Dividends and capital gains obtained by

Portuguese companies can benefit from a participation exemption regime, which make Portugal interesting as a location for investments abroad, including investments in Brazil and the Portuguese-speaking countries in Africa.

Portugal has signed 79 double tax treaties, 76 of which are in force, more than 50 investment protection agreements, 15 tax information exchange agreements, most of which already in force (e.g. Bermuda, Cayman and Gibraltar) and several social security agreements. According to the information released by the newspaper “Expresso” in February 2017 and made available by the Ministry of Finance, there were at the time already more than 10,000 applications for the NHR regime from 2009 to 2016.


36 MARKET INTELLIGENCE

THE GOLDEN VISA P O R T U G A L , A N AT T R A C T I V E C O U N T RY F O R N O N - E U R O P E A N U N I O N / E E E NAT I O NA L S With the aim of attracting foreign investors to live and invest in Portugal, the Portuguese government has created a special residence card (Golden Visa) for foreign (non-EU/EEE national) investors.

For expert advice please contact: Leendert Verschoor – PwC Partner T. + 351 213 599 631 E. leendert.verschoor@pt.pwc.com www.pwc.pt/en/services/tax/immigration.html or Luis Filipe Sousa – PwC Senior Manager T. + 351 213 599 671 E. martim.gomes@pt.pwc.com www.pwc.pt/en/services/tax/immigration.html

F O R T H E P U R P O S E S O F O B TA I N I N G T H E G O L D E N V I S A , T H E A P P L I C A N T S H O U L D M E E T AT L E A S T O N E O F T H E F O L L O W I N G C O N D I T I O N S :

AN EYE ON THE MARKET 2018

(i) A transfer of capital to Portugal of at least EUR 1 million; (ii) Creation of at least 10 new jobs in Portugal; (iii) Acquisition of real estate in Portugal with a value of, at least, EUR 500,000; (iv) Acquisition of real estate in Portugal, where construction ended at least 30 years ago, or is located in an urban regeneration area and implementation of renovation works on the purchased real estate, amounting to a global value equal to, or greater than, EUR 350,000; (v) A transfer of capital equal to, or greater than, EUR 350,000, that is aimed at developing and enhancing research activities developed by public or private scientific institutions, integrated into the national scientific and technological system; (vi) A transfer of capital equal to, or greater than, EUR 250,000, that is aimed at the investment or support of artistic production, recovery or maintenance of national cultural heritage, through certain recognised institutions; (vii) A transfer of capital equal to, or greater than, EUR 350,000, for the acquisition of units

of investment funds or venture capital funds dedicated to the capitalisation of companies, which are/were incorporated under Portuguese law, whose maturity, at the moment of the investment, is, at least, of five years, and, at least, 60% of the investment is realised in commercial companies with head office in Portugal; (viii) Capital transfer in the amount of EUR 350,000, or higher, for incorporation of a commercial society with head office in Portugal, combined with the creation of 5 permanent working jobs, or for the reinforcement of the share capital of a commercial society with head office in Portugal, already incorporated, with the creation or maintenance of working jobs, with a minimum of 5 permanent jobs, and for a minimum period of 3 years. Please note that the amounts mentioned above may be reduced by 20% when the related activities are carried out in certain less populated areas in the Portuguese territory (as defined in Portuguese law).


37 DID YOU KNOW? FOR THE PURPOSES OF MEETING THE CRITERIA RELATING TO THE ACQUISITION OF REAL ESTATE, THE FOLLOWING SITUATIONS ARE ALSO ADMISSIBLE:

The Golden Visa program was established in 2012. Since the program was established, it has brought more than EUR 3.2 billion in investment to Portugal.

Co-ownership of the real estate, with each co-owner making an investment of a minimum of EUR 500,000 Making only Promissory Contracts of purchase before the initial application for the Golden Visa, provided that a deposit of a minimum of EUR 500,000 is made. However, at renewal stage (i.e. after 1 year), the purchase of the property must have been completed (Bank) financing of the acquisition of the property for the purchase price in excess of EUR 500,000 Rental or letting of the property for commercial, agricultural and tourism purposes

The individual may invest directly or by means of a limited liability company of which the applicant is the sole owner, registered in Portugal or in an EU Member State (with a permanent establishment in Portugal). The requirements should be met throughout a minimum period of 5 years, counting from the date the residence card is issued for the first time, with the aim of applying for permanent residence. Once issued, the Golden Visa will be valid for an initial period of 1 year and then should be renewed for subsequent periods of 2 years, provided that the conditions are maintained. For the purposes of renewing the residence permit, the investor shall provide proof that they have remained in Portuguese territory for the required minimum periods during the validity of the card: 7 days, consecutive or staggered, in the first year; or 14 days, consecutive or staggered, in subsequent 2 year periods.

The investor can apply for family reunification and extend the residence to their immediate family members, including: spouse, minor children, dependent adult children, first degree ancestors who are dependents of the bearer or his spouse, minor siblings provided they are under the tutelage of the resident. Once in possession of the Golden Visa, investors are allowed to travel within the Schengen Area, which is constituted by 26 European countries, without the need to apply for a visa. With the Golden Visa, the applicant may stay in other Schengen countries up to 90 days in each period of 180 days. The Golden Visa programme was established in 2012. Since the programme was established, it has brought more than EUR 3.2 billion in investment to Portugal and has been utilised by more than 14,000 immigrants, including principal investors (5,553) and their family members (9,315), according to recent information released in January 2018. Of these investors, the vast majority have come from China, followed by Brazil, South Africa, Russia and Lebanon.

From the alternative ways of investment chosen by investors to obtain the Golden Visa, the acquisition of real estate has been the preferred way and the most requested areas to invest are in Lisbon, its neighbourhood areas of Estoril and Cascais, and the Algarve. The investors who obtain the Golden Visa may also qualify as potential beneficiaries of the NHRs tax residence regime. Through the beneficial tax regime for NHRs and the Golden Visa regime, Portugal is a very attractive country to live and invest, both for European and non-European nationals.


38 MARKET INTELLIGENCE

PROPERTY MANAGEMENT & RENTALS At the heart of any property management service agreement, it is fundamental and necessary to ensure your investment is well cared for all year round. Your time spent here should be relaxing, to enjoy home ownership as planned. It also ensures that when the time comes to sell your property, it achieves the best valuation possible and distinguishes itself to potential buyers.

R E N TA L & P R O P E R T Y M A N A G E M E N T C O M PA N I E S WE CAN RECOMMEND:

Wendy Davies Management T. + 351 289 392 760 E. iuean@wendydavieslda.com www.wendydavieslda.com O T H E R R E C O M M E N D AT I O N S :

Nick Austin – EnQuinta T. + 351 289 350 600 E. nick.austin@enquinta.com www.enquinta.com Colin Skinner – CSS Services Ltd T. + 351 289 399 543 E. colinskinner.colin@mail.telepac.pt AN EYE ON THE MARKET 2018

Paul Johnstone – JES Property Management T. + 351 289 394 711 E. reception@jesql.com www.jesql.com

The vagaries of the Algarve seasons dictate that temperatures in summer can reach the low 40s and occasional winter nights below 5 degrees, whilst at times memorable Atlantic fronts bring torrential rain and storms. Such diversity can bring problems to any property regardless of its age or build quality.

F O R T U N AT E LY, T H E R E A R E M A N Y P R O F E S S I O N A L C O M PA N I E S I N THE AREA TO PROVIDE THE BASICS OF PROFESSIONAL PROPERTY MANAGEMENT:

• Weekly visits to ventilate and ensure the

interior is dry, aired, clean and always in a good state of repair

• Maintain gardens and pools • Pay utility bills and taxes • Supervise works and receive deliveries • Provide professional maid and laundry

services when occupied and when not

BUT WHETHER YOU ARE A PERMANENT OR NON-PERMANENT OWNER, LEADING PROPERTY MANAGERS IN THE REGION OFFER THEIR CLIENTS SO MUCH MORE WHEN REQUIRED:

• 24/7 emergency service to owners, family

members and rental guests, providing owners with a familiar voice in times of need – and bilingual to ensure a quick response to any situation

• Knowledge of new technologies and solutions that modern home designs are incorporating and adopting as standard

• Preferred supplier programmes to ensure

professional services are offered at all times

• Concierge services for golf, transportation and dining out, etc.

• Childcare with bilingual and trusted personnel • For owners wishing to rent – control of the

administration and paperwork to ensure tax and legal matters are in order

• Introduction of your property to some of

Europe’s leading villa travel agents, to secure the highest rental yields and the most discerning guests to stay in your villa


39

TO RENT OR NOT TO RENT The rental demand has never been stronger and with this increasing demand and lucrative income potential, more property owners are putting their properties on the rental market. Often renting for just 4 to 6 weeks can cover annual running costs, so for many, the temptation is too great. The price range can vary from around EUR 2,500 per week for a 2 bedroom apartment to over EUR 25,000 per week for a high-end luxury villa.

HOW SAFE IS IT TO PUT YOUR BEAUTIFUL P R O P E R T Y O N T H E R E N TA L M A R K E T ? The major concern for all villa owners is the well-being of their investment. The ideal situation is to find a property manager who can also act as your rental agent. It is essential for them to have a strong direct client database, so bookings via third party agencies with unknown clients can be avoided. This arrangement secures peace of mind that is crucial for the rental process to work for all parties.

IS IT WORTH RENTING AFTER A G E N T C O M M I S S I O N & TA X E S ?

IS THE BUREAUCRACY OF GETTING AN AL LICENSE WORTH THE HASSLE?

A good rental agent will suggest what the potential weekly rental price could be for your property. Usually this would include 20% agency commission as well as 6% VAT. Your NET figure will not change unless previously agreed discounts are offered for external factors (building works nearby, etc.). A stamp tax must be paid which is 10% of your monthly income. Say you earn EUR 60,000 in 2018, you can divide this figure by 12 months equalling EUR 5,000. The stamp tax is therefore EUR 500 per annum. 25% of your rental income is paid forward as a government retention tax as soon as the rental receipts are issued by your fiscal representative. From your EUR 60,000, EUR 15,000 will be retained – to be claimed back by presenting costs in your annual tax return. We have found that our owners have been receiving roughly 80% of this back.

The acquisition of the AL license (Alojamento Local – the license required for short-term holiday rentals) has a reputation of being difficult to obtain. Let us put your mind at ease. A good agency will take this in hand for you. This AL license is supported by a rental contract between you, or the corporate structure which holds the property, and your property manager. Once your property manager has the license, they are responsible and liable for all rentals in your villa. Of course, there must be full understanding between owner and property manager, as the villa and its grounds must be kept in a high state of maintenance and fit for purpose.

WA N T T O AV O I D E X P O S U R E T O V O L AT I L E F L U C T U AT I O N I N T H E M A R K E T I N T H E R U N U P T O B R E X I T ? What a year we have already witnessed, with “Brexit” being one of the most spoken about topics, yet we still have no further clarity on any of the key issues. However, what we have seen is a significant number of cabinet reshuffles, a contracting UK economy, a divided country and a 15% drop in the value of sterling against the euro and an, almost, 20% drop in the value of sterling against the dollar… but why, if nothing has changed? One word…uncertainty. This is the single reason that sterling has declined sharply in value and has yet to recover. We have witnessed small “bounces” in exchange rates, but nothing that is anywhere near pre-referendum rates, where we saw sterling trade at 1.31 against the euro and 1.52 against the dollar. The staggering drop in sterling exchange rates means that a conversion of GBP 500,000 to euros, now achieves EUR 90,000 less, compared to pre-referendum levels – alternatively, this would be USD 70,000 less if converting into dollars.

Conversely, if you were converting EUR 500,000 into sterling, you would now achieve GBP 61,000 extra, compared to pre-referendum levels – similarly you would achieve GBP 33,000 when converting USD 500,000 into sterling. Analysts from around the globe continue to try and determine what might be in sight for the UK economy and sterling in a post-Brexit, but until the negotiations conclude it is all conjecture, which means continued uncertainty. Given this uncertainty, and if you are contemplating either purchasing or selling an overseas property, it is highly advisable to seek expert advice. The foreign exchange market is one of the most volatile markets in the world. To negate any unnecessary exposure to this market, it is recommended that you use the service of a currency specialist/analyst, who can provide a number of solutions, including the following: Tailor-made currency solutions – There are plenty of financial tools available to help you stay protected from any volatile fluctuations and avoid any unnecessary risk when buying your currency. Various contracts specific to your time frame If you have a specific time frame, then why not

choose a contract that allows you to settle when it suits you. Contract types – You can take advantage of both spot purchases (immediate settlement) and forward contracts (fixed exchange rate in advance for up to 2 years). Order types – You have access to various order types to mitigate your exposure to the markets, such as limit orders and stop loss orders. Access to market experts – In-depth knowledge on the latest market movements with updates on the latest news and key economic events.

Currencies 4 You Offices in the UK, Spain & Portugal. Head office (UK) T. +44 1322 319 550 Portugal (Almancil) T. +351 289 156 369 E. info@currencies4you.com


40 MARKET INTELLIGENCE

RUNNING COSTS 2018 E S T I M AT E D R U N N I N G C O S T S F O U R / F I V E B E D R O O M V I L L A W I T H P R I VAT E LY O W N E D P L O T Prices shown are for guidance only and are in EUR. Cost description

Quinta do Lago Vale do Lobo

ALARM MONITORING SERVICES & TECHNICAL ASSISTANCE 560

560

CABLE/SATELLITE TV

450 450

CLEANING SERVICES

4,800 4,800

C O M M U N I C A T I O N S ( I N T E R N E T A N D P H O N E ) 850 850 ELECTRICITY

4,500 3,000

GARDEN MAINTENANCE

7,200 4,500

GAS

1,200 1,200

GENERAL MAINTENANCE

3,500 2,500

HOME AND CONTENTS INSURANCE

3,000 1,750

IMI AND ADDITIONAL IMI (COUNCIL TAX)

7,000 3,000

PROPERTY MANAGEMENT

3,400 2,900

RESORT MEMBERSHIP

N/A 3,421

AN EYE ON THE MARKET 2018

SECURITY 1,623 Included in resort membership SWIMMING POOL MAINTENANCE

2,500 2,500

W A T E R ( I N C L . S E W E R A G E A N D G A R B A G E T A R I F F S ) 8,550

4,380

Total Estimated Annual Costs

35,811

49,133


41

FIXED ANNUAL PROPERTY RUNNING COSTS 2018 These are fixed costs only, based on the latest information held by QP as of March 2018. Prices shown are for guidance only and in EUR. Location

Type

Condominium

Infrastructure Security

DUNAS DOURADAS

1 Bedroom Apartment 2 Bedroom Apartment 3 Bedroom Apartment 4 Bedroom Villa

From 7,843 From 9,706 From 13,262 From 24,203

Inc Inc Inc Inc

ENCOSTA DO LAGO

2 Bedroom Apartment 3 Bedroom Apartment 4 Bedroom Villa 5 Bedroom Villa

3,375 4,463 2,138 2,673

From 601 Inc From 793 Inc From 985 Inc From 1,177 Inc

LAKESIDE VILLAGE

1 Bedroom Apartment 2 Bedroom Apartment 2 Bedroom Townhouse 3 Bedroom Townhouse / Villa 4 Bedroom Townhouse / Villa

From 1,064 From 2,128 From 1,728 From 2,592 From 3,456

From 409 From 601 From 601 From 793 From 985

221 442 442 663 885

MARTINHAL QUINTA

2 Bedroom Townhouse 3 Bedroom Townhouse 3 Bedroom Villa 4 Bedroom Villa 5 Bedroom Villa

From 4,211 From 6,493 From 9,125 From 10,529 From 14,038

Inc Inc Inc Inc Inc

Inc Inc Inc Inc Inc

PINHEIROS ALTOS

2 Bedroom Apartment 3 Bedroom Townhouse 3 Bedroom Semi-Detached w/ Pool 3 Bedroom Villa 4 Bedroom Villa 3 Bedroom Villa on Private Plot 4 Bedroom Villa on Private Plot

From 2,196 From 2,739 From 3,343 From 9,713 From 10,293 N/A N/A

From 601 From 793 From 793 From 793 From 985 From 793 From 985

923 1,384 1,384 1,384 1,846 1,696 2,261

QUINTA VERDE

3 Bedroom Villa 4 Bedroom Villa 5 Bedroom Villa

N/A N/A N/A

From 1,947 1,996 From 2,595 2,662 From 3,244 3,327

SÃO LOURENÇO

Studio 1 Bedroom Apartment 2 Bedroom Apartment 3 Bedroom Apartment

2,264 3,018 6,036 9,054

From 361 From 409 From 601 From 793

111 221 442 664

VALE DOS PINHEIROS

1 Bedroom Townhouse 2 Bedroom Townhouse

3,500 4,200

From 409 From 601

221 442

VICTORY VILLAGE

Studio 1 Bedroom Apartment 2 Bedroom Apartment 3 Bedroom Apartment 3 Bedroom Townhouse 4 Bedroom Townhouse

1,408 From 1,528 2,937 3,204 3,774 4,571

From 361 From 409 From 601 From 793 From 793 From 985

111 221 442 664 664 885

VILAR DO GOLF

1 Bedroom Apartment 2 Bedroom Townhouse 3 Bedroom Townhouse

2,790 From 5,129 6,200

From 409 221 From 601 442 From 793 664

Resort Membership 1,487 2,131 2,776 2,776 3,421 4,066 4,711 5,356

From 396 From 698 From 1,566 From 1,566 From 2,068 From 3,613 From 4,504 From 4,696

VALE DO LOBO 1 Bedroom Apartment w/ Pool or Jacuzzi 2 Bedroom Apartment w/ Jacuzzi 3 Bedroom Apartment w/ Pool 3 Bedroom Villa 4 Bedroom Villa 5 Bedroom Villa 6 Bedroom Villa 7 Bedroom Villa

Inc Inc Inc Inc

Inc Inc Inc Inc Inc Inc Inc Inc


42

NEWS VA L E D O L O B O S A L E ECS capital, run by António de Sousa and Fernando Esmeraldo, have bought off the Caixa Geral de Depósitos debt for EUR 222.9 million. The resort will be immediately managed by a new board, replacing the current administration led by Diogo Gaspar Ferreira, although there is still no news as to who will run the new board.

Q U I N TA D O L A G O U N D E R NEW MANAGEMENT After spending the last 2 decades working in senior roles in the retail industry for leading brands including Tesco, Dairy Gold and Topaz Energy/Circle K, the 40-year-old Irishman Sean Moriarty accepted a new challenge last August, when he took on the position of chief executive at the exclusive resort.

NEW SHOPPING CENTRE

A M I C H E L I N S TA R F O R G U S T O AT T H E C O N R A D A L G A R V E Awarded in 2018 with a Michelin-Star by the prestigious Michelin Gastronomic Guide, Gusto restaurant established itself as a leading gourmet destination in the Algarve, with the 3 Michelin Starred Chef Heinz Beck at the helm. This sleek and contemporary Mediterranean restaurant, fused with Scandinavian design, offers innovative cuisine in a bustling atmosphere, with an open display kitchen adding to the lively feel of the restaurant. The adjoining and sophisticated Gusto bar is the perfect setup to start your culinary journey with a signature cocktail, or enjoy a Cuban cigar from the extensive cigar menu on the alfresco terrace.

A brand new shopping centre has recently opened on the outskirts of Loulé. There are 110 shops including the designer outlet, an IKEA store, the DIY Leroy Merlin, as well as an ultra modern cinema.

GOOGLE US-based multinational Google is from June to set up a new service centre and technology hub for Europe, the Middle East and Africa in Lisbon.

P O R T U G A L B E S T D E S T I N AT I O N In the World Travel Awards 2017, Portugal was awarded the best destination to visit in Europe. The Algarve was also mentioned as the best beach destination. Figures show that just over 11 million foreigners visited Portugal which is an increase of 13%.

EASYJET LINKS FARO TO BERLIN

Algarve Best Golfing Destination Portugal has been named both the World and Europe’s Best Golf Destination for the fourth year in a row at the World Golf Awards.

EasyJet has announced it is launching a new route linking Faro to Berlin, Germany. The air link will launch on the 2nd of August and tickets are already for sale with prices starting at EUR 21.

Portugal Ranked 3rd in the Global Peace Index In a world rocked with terrorist atrocities, Portugal has climbed the ranks in the Peace Index and is now proudly sitting in 3rd position after Iceland and New Zealand.

AN EYE ON THE MARKET 2018

Portimão Elected Portimão has been elected European City of Sport 2019. Expat Insider 2017 Survey Portugal was voted the number one destination in the Quality of Life index with 93% of people surveyed stating they are satisfied with their life abroad in Portugal.


43


44

L O U I S

van

G A A L

... P O P S I N T O Q P VA L E D O L O B O O F F I C E F O R A C H AT Photo - left to right: Louis van Gaal, Alison Hojbjerg, Mario Sardo, Rita Castelo Branco

L O U I S VA N G A A L D u t ch fo o t b a l l m a n a g e r a n d fo r m e r p l aye r. H e wa s fo r m e r l y m a n a g e r o f AN EYE ON THE MARKET 2018

Ajax, Barcelona, AZ, Bayern Munich, the Netherlands and Manchester United. He is one of the most decorated managers in world football, h a v i n g w o n 2 0 m a j o r h o n o u r s i n h i s m a n a g e r i a l c a r e e r.


Louis van Gaal & Alison Hojbjerg

Louis van Gaal, in the air

Mr. & Mrs. van Gaal

One thing I love here is that people respect my privacy and in general don’t come and hassle me everywhere I go for pictures and autographs.

E

xciting stuff..! It’s not everyday such a superstar as this comes into our office. “Good morning Mr. van Gaal”. (I’ve been practicing the Dutch way of pronouncing the “G”, it takes time to perfect that sound!) “Louis”, says Mr. van Gaal, who has a firm handshake and who is much taller and more charming than I expected. We exchange some pleasantries and I soon realise this is a very approachable man, who is bubbling with enthusiasm for the Algarve, so my task will be an easy one. “Louis, of all the places in the world, what

attracted you to Portugal?” He tells me that back in the 80’s he and his family holidayed in Vilamoura, and when he returned in 2003 as technical director of Ajax FC, he decided to have a closer look at the possibility of investing here. In 2004, when he was an analyst for the European Championship, he stayed in Vale do, Lobo which at that time was owned by fellow Dutchman, Sander van Gelder. As a consequence of all the good times he had spent here, this super successful football manager decided to buy a plot in 2006, and his brand new villa with amazing west facing views over the fairways and ocean,

was inaugurated when he got married on his birthday, 8th August 2008 (08.08.08). “I love it here”, says Louis. “After I left Manchester, I decided to move to Portugal, where I have become a tax resident. I now have the non habitual tax regime (NHR) and I spend most of my time here. The food is delicious and simple, and the wines are unbelievable”, he says. Louis tells me that Portuguese wines are right up there with French wines from Bordeaux, and says he thinks the wines from the Alentejo are just as good, if not better! He seems to know a thing or two about wines.


46 “The climate here is the best in Europe – even in the height of summer, when it is sweltering hot and humid in Spain, here there is always a pleasant ocean breeze. The winters are mild and sunny”. Louis van Gaal is proving to be a great ambassador for this beautiful part of the world. “I play golf most days, I love the Ocean course and especially hole 3, which challenges me each time I play it. I play very exact, but sadly I lack distance, so on that hole I rarely manage to place my ball over the water”. What other activities does he do here, I ask. “There’s so much to do here, like tennis, the beach, karting, parasailing, the list goes on. We could do with some more high-end brands and my wife says there are too few fashionable boutiques in the area”. Good to know that

new boutiques from the trendy Avenida da Liberdade in Lisbon are about to open in Quinta Shopping, with many of the top brands. (Ladies, check www.fashionclinic.com). “One thing I love here is that people respect my privacy and, in general, don’t come and hassle me everywhere I go for pictures and autographs”. When I ask Louis which his favourite restaurants are, I’m surprised at his choice: “The Churrasqueira in Almancil is my favourite! Their chicken piri piri is the best in town and we have been going there for years”. He also goes to Sandbanks down at the Praça in Vale do Lobo. “You must try the fish served in a salt crust”, he tells me. Louis also goes to Grissino Ristorante, Flor de Sal and Malveiro, a tiny restaurant that specialises in Mozambican food. (This also happens to be one of my

favourites and I’m surprised Louis knows this tiny place tucked away behind Almancil). His favourite beach restaurant is Temperus. “I love it there, but my car comes back completely covered in dust, so I always leave this for the last day!” “So, it sounds like you are enjoying retirement here. Any regrets in life? Anything you would do differently?” I ask. “None” he replies. “I take good care when making choices and I regret nothing. I don’t make spontaneous decisions. I evaluate, analyse and in the end I always trust my gut feeling – it rarely fails me. Oh, and as for being retired, that may be the case now, but who knows what will happen in the future...” Let’s wait and see what Louis van Gaal’s next steps will be … By Alison Hojbjerg

Mostly I love the Portuguese people who are humble and exceptionally friendly and, unlike some other European countries, they ALL speak such good English.

AN EYE ON THE MARKET 2018

Family van Gaal


EDWIN LOXLEY

Uncompromising, aspirational, truly bespoke fitted furniture Estrada National 125, Terras Ruivas, Loja Esquerdo 334B, 8133-300 LoulĂŠ Algarve, Portugal

Tel. +351 289 312 444 Mobile +351 91 751 8320 Email: sharron @ edwinloxley.pt

A d o r n i n g t h e A l g a r v e ’s f i n e s t h o m e s s i n c e 2 0 0 0


27 YEARS OF GREAT MUSIC

48

WORLD CLASS MUSIC

Amigos de Música

I

n the Algarve there is a circle of Friends of Music, known as the “Amigos de Música”, which organises classical music recitals in the spectacular Quinta Os Agostos, near Sta. Bárbara de Nexe. This is certainly as unique a concert hall as you will find anywhere. To spend an evening in the rustic ambience of this old Portuguese country estate listening to music made by world class musicians is becoming a not so secret tip for Algarve visitors who love classical music. The international community of local residents, who mainly form the membership of this circle of music lovers, as well as a growing number of like-minded members of the public, enjoy the conviviality of recitals and concerts there, and artists praise the excellent acoustics within the old walls.

This fortuitous fact gives Helga Hampton, the president of this non-profit membership “club”, confidence in her mission to bring international musicians to the Algarve. She says that she always looks forward to the challenge of putting together an attractive programme that reflects the international spirit and language of music. Through her extensive contacts in the music world, Helga has been able to invite and welcome an extraordinary roster of world class artists and ensembles over the years. Herewith is a small selection of the outstanding performers that the Amigos have heard recently, in no particular order ... Piers Lane: piano ­ London-based Australian pianist Piers Lane stands out as an engaging and highly versatile performer, at home equally in solo, chamber or concerto repertoire. His concerto repertoire alone exceeds ninety-five works and has led to engagements with many of the world’s great orchestras and conductors, including 5 performances at the BBC Proms.

AN EYE ON THE MARKET 2018

Juho Pohjonen: piano - Celebrated as one of Finland’s most outstanding pianists, Juho Pohjonen has received widespread acclaim for his profound musicianship and distinctive interpretations of a broad range of repertoire from Bach to Salonen. His interpretations are known for their intensity, thoughtfulness, and fearless musical conviction. Helga Hampton with Paul Crossley

Katya Apekisheva: piano - Since becoming a prize-winner in the Leeds International and Scottish Piano Competitions and winning awards such as ‘Soloist of the Year’, Katya, a Russian, has been marked out as a pianist of exceptional gifts, performing with many of the

world’s leading orchestras, and working with conductors such as Sir Simon Rattle, David Shallon, Jan Latham-Koenig and Alexander Lazarev. Craig Ogden: guitar - Australian born Craig has become one of the greatest classical guitar players; dubbed “a worthy successor to Julian Bream”, his debut solo CD for Nimbus Records of 20th Century Classics by British composers was nominated for a Grammy Award. Sa Chen: piano - Sa Chen is a young Chinese pianist and the only one to have been awarded prizes in the Leeds, Chopin and Van Cliburn competitions. She is widely acclaimed as one of the most gifted pianists from China. Tim Hugh, cello, Alissa Firsova, piano, Andrew Marriner, clarinet: - These 3 musicians, Tim and Andrew both principals of their instrument sections in the LSO, and Alissa, an amazing pianist and composer of great renown, came together in Os Agostos to form “The Amigo Trio”. Holger Groschopp: piano - An extensive solo concert career has taken this German pianist into many leading orchestras, including his close collaboration with Sir Simon Rattle and the Berlin Philharmonic Orchestra.  Whenever a symphonic work includes a keyboard part, they call on Holger, where his versatility allows him to play the organ, the harpsichord, the celesta and the harmonium from time to time. Holger comes to the Algarve with Adele Bitter, the principal cellist of the Deutsches Symphonie Orchester Berlin. They have been giving the Amigos de Música various duo performances of great pieces.  


47

Sa Chen, piano

Katya Apekisheva, piano

Milena and Roman Simovic When this husband and wife string duo comes together on the concert platform, you are in for a musical event of a very special kind. Milena is currently principal violist in the City of Birmingham Symphony Orchestra and Roman the leader of the great London Symphony Orchestra. Their brilliant virtuosity has taken them as orchestral players as well as soloists to performances on the world’s leading stages, and the Amigos de Música are very privileged to count this amazing duo among their musicians. They are already looking forward to their next appearance at Os Agostos.

In her core mission to bring world class music events to the Algarve, Helga Hampton always keeps the expectations and preferences of her membership firmly in mind. The annual membership fee brings admission to all 18 concerts organised within a year (as well as other special privileges). For any and all information, contact Helga Hampton via her email address: helga.hampton@btinternet.com or visit the website: www.amigos-de-musica.org

Roman Simovic, violin

H o l g e r G r o s c h o p p, p i a n o

2018 C O N C E RT PROGRAM Amigos de Musica

20

&

22

February

13

&

15

March

17

&

19

April

8

&

10

May

12

&

14

June

11

&

13

September

2

&

3

20

&

22

November

18

&

20

December

ROMAN SIMOVIC (violin), MILENA SIMOVIC, (viola) PIERS LANE (piano) HÉLÈNE TYSMAN (piano) KIRIL TIMOFEEV (cello), EVGENY SINAISKI, (piano) I S T VA N L A J KO ( p i a n o ) ANDREY GUGNIN (piano) October

L U C Y PA R H A M (piano) , H A R R I E T WA LT E R , (actor) Chopin portrait J O A N A S H U M O VA ( p i a n o ) , A G ATA K A R A S K K A I T E , ( v i o l i n ) T H E PA N G E A T R I O

Invitations to join the Amigos de Música are sent out during the summer break of July and August. Membership fees and extra contributions are the basis of the group’s funding. The very generous patronage of QP Savills, Valverde Apartments and Os Agostos, makes the Amigos’ Young Portuguese Musician Sponsorship initiative possible, whose practical aim is to nurture further musical studies abroad for selected Portuguese music students.


50 One of the really great aspects of our job, other than seeing some of the most amazing properties in Portugal, is meeting quite exceptional people, like Clare and Liam Griffin. It’s always interesting to see why families who can choose to holiday and invest in property anywhere in the world decide to come here.

A DAY IN THE LIFE

of

FAMILY GRIFFIN

AN EYE ON THE MARKET 2018

S o we asked Clare and Liam, based in London and who have travelled the world, to tell us why they chose Quinta do Lago over anywhere else, and to tell us what a typical day looks like for this family when they are enjoying their holiday home here, in the middle of Quinta do Lago: “Initially we were looking to buy in La Manga, but the beaches are nowhere near as beautiful as the beaches in the Algarve. As a family we travelled to France, but never really felt we wanted to return there. Liam’s parents had a timeshare in the Four Seasons Country Club, they were one of the very first families to come here in the 80’s. Liam always came as a teenager” (Yes, they met when they were teenagers!!!). They both fell in love with Quinta, “It felt so familiar”, and this is where they holidayed during their professional lives and

Family Griffin and friends

By Alison Hojbjerg


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52 We all had a paddle competition at the new sports academy which was so much fun for all of the family

before they got married, but even more so after the boys were born. “It’s no longer just about golf”, says Clare, the beautiful and bubbly mother of three. “It’s such a varied resort: organised picnics in the parks where you can meet tons of other families, tennis, afternoons spent at The Shack, easy access to the driving range, beautiful, long sandy beaches, fabulous golf, sports and, of course, loads of fun restaurants”. Clare says that she found Quinta to be a little bit stiff and quiet years ago, but says now things have changed. “It’s not just a place we come in the summer”, she says. “This year we spent Christmas and New Year here. We had just as much fun in the winter as in the summer. It never occurred to us to spend Christmas here, but we had such a lovely time. We all had a padel competition at the new sports academy, which was so much fun for all of the family. We had dinner at Bovino on New Year’s Eve, followed by dancing and fireworks. On New Year’s day, we sat out in the sun at Maria’s who had a band playing. We even drove to the Sierra Nevada to ski! It took us 5 hours. We drove via Seville and Granada.” Clare’s husband, Liam is a triathlete and an Ironman “so he often sets out on his bike up to Loulé; training, running and swimming along the Ria Formosa; and swimming in the sea. He competes for Ireland and it’s such a great place to train”. Clare is clearly very proud of her athletic husband! Gabriel, the couple’s 4 year old, often plays tennis with Luis down at The Campus, he loves going to the beach, and they have great babysitter contacts here. Harvey, 15, and Declan, 13, love to play padel, which is a new sport for them, and the family have all taken it up since the opening of The Campus. (See page 20 for more details, the-campus@ quintadolago.com). The boys love the water

sports lake and spending evenings at The Shack, where a DJ is often featured. The family also love to go to Estaminé (animaris@ animaris.pt), a beautiful restaurant on an island just off the coast of Faro, that sends out their speed boat to collect and return you after a day on the island, which “is like being on the Caribbean”, says Clare.  “The boys, sadly,(!) also love the water slide park in Quarteira, Aquashow, but they also are so happy to just hang out in the villa. We have Lazer TV and we have even better Wi-Fi here than we do at home”. When I asked her if the boys were allowed out at night to the lively Praça in Vale do Lobo, Clare immediately says, “No, they are not allowed out to the Praça yet!  But when they do start going out, I know it is safe, it’s a very controlled environment and when they are 16 they will be allowed to go”.  When Clare gets a moment, she loves the spa at the Conrad (ConradAlgarve.SPA@conradhotels.com), where she takes yoga classes, and she also takes some exercise classes at Four Seasons Country Club, where the family are members. Clare has met a lot of the local ladies and enjoys walking on the beaches and walking along the Ria Formosa, which according to her “is one of the most beautiful walks I have ever been on”. The Griffins love to host family and friends in their villa, and Clare is especially happy to have found a brilliant catering company that makes it like a catered chalet. Quinta Chef (info@quintachef.com) are great and reasonably priced. “It’s such a pleasure to fill the house with the people we love to host, and at the same time feel supported. It’s like a mini hotel”. Wendy Davies (info@wendydavieslda.com), a long-standing management company, takes care of the daily cleaning “and I genuinely get a holiday in our home”, enthuses Clare. “We love taking the family to Gourmet Natural;


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- we always look forward to that. Sundays we often go to Thai Beach Club - we have the best fun there with sundowners and Giuseppe” the charismatic owner. “If it wasn’t for Rebecca (Rebecca Patterson who has been part of our sales team for 5 years) holding our hand, I don’t know what we would have done.” Clare and Liam were looking for something very specific, and when they were not able to find exactly what they wanted, they decided

to buy a property in the perfect location and did an extensive refurb. “It was so much easier than we thought it might be. Rebecca set up all the meetings for us and introduced us to Vanessa Roff (info@vanessaroff.com), who helped us with our interior design and to Andrei (info@character-construction.com), our fantastic builder. We thought this would all be a headache, but thanks to Rebecca’s help it was all a real pleasure.

We have just as much fun in the winter as in the summer.


www.whiteandkaki.com Interior Design INTERIOR DESIGN w w w .w hi teand kaki .com


PORTFOLIO

Property

Q U I N TA D O L AG O VA L E D O LO B O SURROUNDING AREAS

U N I Q U E O C E A N F R O N T E S TAT E R E F. 8 5 2 0 7 Q P For further information please contact us T. +351 289 396 073


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VASCO VIEIRA AN EYE ON THE MARKET 2018

"As the Architect I am very pleased and extremely proud to see what began as a simple hand sketch turn into such a magnificent villa. Every aspect of the villa reflects the extreme demands on quality that Rowl Projects were searching for from day one. Beginning with the choice of plot through to the smallest details, all decisions were made with the intent to establish a new level of quality for the Quinta do Lago resort. The completed villa is not only striking in its architecture, but it is also a master-piece of technology, setting a new benchmark of quality for the resort itself. I am honoured to have been part of this project.�


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Sophisticated villa with stunning golf and lake views QU I NTA D O L AG O A home with exquisite attention to detail, interiors designed and executed with absolute precision and creativity. I love the sprawling gardens with panoramic views of the golf course and the lake. This villa is truly spectacular!

Bedrooms: 5 Bathrooms: 5 Energy: A

Living area: 825 m2 Plot size: 2,395 m2 Ownership: UK Co.

Ref. 29030QP Guide price: EUR 6,950,000


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Fabulous estate close to the beach Q UIN TA DO LAG O More than a villa, this is a majestic hilltop estate with beautiful views over the Ria Formosa and Atlantic Ocean. For me, it’s the perfect residence for a family craving space and exclusivity. With 11 bedrooms in total, this wonderful estate can house even the biggest families, providing ample space inside and out.

Bedrooms: 11 Bathrooms: 11 Energy: B

Living area: 1,228 m2 Plot size: 8,000 m2 Ownership: Delaware Co.

Ref. 75009QP Guide price: POA

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Imposing villa on an elevated plot surrounded by fabulous golf views! QUI NTA D O L AG O I love the look and feel of this villa, overlooking my favourite golf course, Quinta do Lago North. The layout and design are simple, lending themselves to modern day living at its finest. The property is set within a peaceful area of the estate; however, Koko Lane, the golf clubhouse and a range of facilities are only a short walk away.

Bedrooms: 5 Bathrooms: 5 Energy: B-

Living area: 713 m2 Plot size: 1,985 m2 + 1,000 m2 adopted Ownership: Delaware Co.

Ref. 83529TC Guide price: EUR 6,300,000

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Majestic villa with impressive features Q UIN TA DO L AG O This is a grand and extremely impressive home. What I find incredible is the amount of attention that was given to all the details, leading to a very unique and high quality property. The location is quiet and the spacious, manicured garden provides complete privacy.

Bedrooms: 7 Bathrooms: 7 Energy: D

Living area: 901 m2 Plot size: 2,100 m2 Ownership: Delaware

Ref. 10117QP Guide price: EUR 5,995,000


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Really wonderful villa with a large, private plot QU I NTA D O L AG O Gorgeous villa, built to the highest standard and with exquisite taste. This family home is in a popular area within Quinta do Lago that is quiet and yet close to many of the main facilities. For me, its outstanding feature is the garden, which gives it an estate-like feel with great privacy and seclusion.

Bedrooms: 5 Bathrooms: 5 Energy: C

Living area: 615 m2 Plot size: 2,691 m2 Ownership: Private

Ref. 83602QP Guide price: EUR 5,500,000


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Chic family villa, beautifully finished Q UIN TA DO L AG O The epitome of tranquillity and privacy, this wonderfully renovated property on Ave. Ayrton Senna is the perfect option for those looking for a villa ready to move into. I absolutely love the materials used throughout, but the wooden floors in the bedrooms are an inspired choice and give the villa an incredibly warm and cosy feeling.

Bedrooms: 5 Bathrooms: 6 Energy: A

Living area: 708 m2 Plot size: 1,920 m2 Ownership: Delaware Co.

Ref. 83333QP Guide price: EUR 4,850,000


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Beautiful traditional style villa on the fairway QU I NTA D O L AG O Escape to a beautiful, well-designed family home, with elevated golf views over the world class San Lorenzo golf course. A really fantastic feature of this property, and one that I’m sure you will use year round, is the covered outside dining area with BBQ, ideal both in summer and winter for socialising with friends.

Bedrooms: 4 Bathrooms: 4 Energy: C

Living area: 687 m2 Plot size: 2,000 m2 Ownership: Delaware Co.

Ref. 83264QP Guide price: EUR 4,450,000

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Spacious property with huge potential! Q UIN TA DO L AG O Perfectly south facing, this is one of the few remaining great opportunities in Quinta! I love the large, private site. The house with 6 suites is actually fine as it is, but if someone fancies a project, the house has good proportions and could easily be converted into a villa that could compete with the best.

Bedrooms: 6 Bathrooms: 6 Energy: C

Living area: 582 m2 Plot size: 1,930 m2 Ownership: Delaware Co.

Ref. 83194QP Guide price: EUR 4,200,000


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Classical villa with picturesque surroundings QU I NTA D O L AG O This golf front property sits on an exceptionally large site, which makes it exciting for anyone looking for a project for a sizeable villa. I think the attractive architectural style of the existing home also lends itself to a fabulous renovation project for families looking to start enjoying the Algarve lifestyle sooner!

Bedrooms: 5 Bathrooms: 4 Energy: B-

Living area: 522 m2 Plot size: 2,700 m2 Ownership: Delaware Co.

Ref. 83404QP Guide price: EUR 3,750,000

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Large luxury villa with tropical garden and fabulous pool area Q UIN TA DO L AG O Character defines this property. Traditional brick vaulted ceilings and terracotta floors are two of the timeless features that make this property so unique. The interiors are tastefully finished and the outdoor living space is stunning. Set on a large, private plot beside the demanding first hole of the Corks. Perfect.

Bedrooms: 6 Bathrooms: 4 Energy: D

Living area: 528 m2 Plot size: 2,496 m2 Ownership: Delaware Co.

Ref. 26033QP Guide price: EUR 2,750,000


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Perfect frontline property with golf and lake views QU I NTA D O L AG O A perfect property for anyone looking for an easy life. This villa has been extensively renovated to an extremely high standard and the resort takes care of all the villa’s external needs. There are amazing views from all levels. The high windows and ceilings are a particularly lovely feature, making this property feel so bright and airy.

Bedrooms: 4 Bathrooms: 4 Energy: D

Living area: 359 m2 Plot size: 300 m2 Ownership: Delaware Co.

Ref. 83204QP Guide price: GBP 1,495,000


DEBBIE PUGSLEY SENIOR SALES EXECUTIVE

Great value spacious villa in the heart of the resort Q UIN TA DO L AG O An ideal location within the heart of Quinta do Lago and within easy walking distance of the beach. My favourite place, without doubt, is the large covered terrace adjacent to the lounge. Here you can sit and enjoy the fabulous views over the pool and onto the fairways of the Pinheiros Altos golf course.

Bedrooms: 4 to 5 Bathrooms: 4 Energy: D

Living area: 346 m2 Plot size: 593 m2 Ownership: Delaware Co.

Ref. 83826QP Guide price: EUR 1,495,000


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Great Pinheiros Altos villa with golf title QU I NTA D O L AG O A timeless architectural design describes this villa best. Nestled between landscaped gardens and tall umbrella pines, this property is perfect for anyone interested in a low maintenance villa on this superb golf estate. Spacious, sunny terraces lead off the living areas, allowing you to relax and enjoy after a round.

Bedrooms: 3 Bathrooms: 3 Energy: B-

Living area: 300 m2 Plot size: 249 m2 Ownership: Delaware Co.

Ref. 83687QP Guide price: EUR 1,050,000


ALINA HRITUC SALES EXECUTIVE

Groundbreaking new villa in a class of its own VA L E DO LO BO Grand style and unrivalled sophistication come to mind when I think of Casa da Quinta. In my opinion, this new estate is a model of sophistication and showcases unprecedented bespoke details which elevate the property to a new level. Size, style, facilities and location. It has it all.

Bedrooms: 9 Bathrooms: 11 Energy: B

Living area: 2,014 m2 Plot size: 3,173 m2 Ownership: UK Co.

Ref. 85322QP Guide price: EUR 20,000,000


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LUKE BEGLEY SALES EXECUTIVE

Unique villa in a prime location within Vale do Lobo VA L E D O LO BO Situated in a sought-after location in the very heart of Vale do Lobo, this traditional style villa is ideal for renovation or redevelopment. I love the elevated position and spectacular views over the challenging 17th hole of the Royal golf course towards the sea, as this forms the basis of creating a bespoke villa on one of Europe’s best golfing estates.

Bedrooms: 5 Bathrooms: 5 Energy: B-

Living area: 277 m2 Plot size: 1,380 m2 Ownership: Private

Ref. 85508QP Guide price: EUR 5,750,000


RITA CASTELO BRANCO SALES EXECUTIVE

Sensational, contemporary, new Vale do Lobo villa VA L E DO LO BO I think this is an incredible property with great exterior and interior architecture, very well thought out, and with plenty of refreshing features that really enhance it and make the difference. Ideal for all sea view lovers – positioned to enjoy our incredible sunsets. Absolutely love it!

Bedrooms: 4 Bathrooms: 4 Energy: B

Living area: 734 m2 Plot size: 1,629 m2 Ownership: Portuguese Co.

Ref. 86059QP Guide price: EUR 5,500,000


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MARIO SARDO SALES EXECUTIVE

Super stylish villa with views VA L E D O LO BO Without a doubt, one of my favourite properties! I love this contemporary design as it allows for clean lines, functionality and simplicity. The villa incorporates lots of glass, allowing in plenty of natural light and enhancing the spectacular views of the surrounding greenery. The property is ideally situated close to the beach and Praça, where you’ll find a range of restaurants for all the family to enjoy.

Bedrooms: 5 Bathrooms: 5 Energy: A

Living area: 693 m2 Plot size: 1,796 m2 Ownership: Malta Co.

Ref. 84504QP Guide price: EUR 4,800,000


ALINA HRITUC SALES EXECUTIVE

Majestic luxury villa with beautiful ocean views VA L E DO LO BO I think the sea views of this villa are simply breathtaking! Set in a quiet area of Encosta do Lobo, this exceptional property offers a rare combination of architecture, location and ocean views, providing a lifestyle only few will have the opportunity to enjoy.

Bedrooms: 5 Bathrooms: 4 Energy: B-

Living area: 395 m2 Plot size: 860 m2 Ownership: Delaware Co.

Ref. 85509QP Guide price: EUR 3,350,000


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REBECCA PATTERSON SALES EXECUTIVE

Spacious and elevated villa with lovely views VA L E D O LO BO This 5 bedroom villa is a great family home with some lovely golf and sea views in a quieter and newer part of this prestigious resort. I love the beautiful blue tones used in the soft furnishings and the gorgeous light-wood beam ceiling of the BBQ terrace, as they give this villa a trendy beach house feel. Bedrooms: 5 Bathrooms: 5 Energy: C

Living area: 440 m2 Plot size: 1,164 m2 Ownership: Private

Ref. 85216QP Guide price: EUR 2,950,000


REBECCA PATTERSON SALES EXECUTIVE

Contemporary gem in a central location VA L E DO LO BO This contemporary villa in the heart of Vale do Lobo combines the cool new trends in architecture with traditional essentials for a family friendly home. The proximity to the Clubhouse, with their abundant facilities, and the ease of access to the beach make this home a winner for a family that loves to keep busy with the best activities the area has to offer.

Bedrooms: 5 Bathrooms: 5 Energy: C

Living area: 265 m2 Plot size: 1,420 m2 Ownership: Private

Ref. 84544QP Guide price: EUR 2,700,000


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RITA CASTELO BRANCO SALES EXECUTIVE

New and trendy villa VA L E D O LO BO This is a brand new villa, in a quiet cul-de-sac in the heart of Vale do Lobo. I think it’s a great property for anyone that appreciates informal layouts, as it prioritises open spaces and has a great interaction between the inside and outside. Super functional and easy to maintain!

Bedrooms: 4 Bathrooms: 4 Energy: A

Living area: 265 m2 Plot size: 845 m2 Ownership: Private

Ref. 77639QP Guide price: EUR 2,150,000


DEBBIE PUGSLEY SENIOR SALES EXECUTIVE

Traditional villa with a large garden close to Vale do Lobo VA L E DO LO BO Fazenda Santiago is a hidden gem! A gated, secure community, minutes away from Vale do Lobo. Driving into the resort with its manicured gardens and beautiful properties is always a real surprise for first time visitors. This villa has such a lovely feel throughout; a delightful, private, south facing garden; and stunning sea views from the master bedroom terrace.

Bedrooms: 4 Bathrooms: 4 Energy: C

Living area: 318 m2 Plot size: 2,235 m2 Ownership: Delaware Co.

Ref. 84535QP Guide price: EUR 1,750,000


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Semi-detached townhouse with private pool Q UIN TA DO L AGO

I love the outside space of this charming townhouse in Pinheiros Altos. The new full-size swimming pool and the spacious terraces are ideal to enjoy the Algarvean sunshine. The resort has great golf facilities, such as the driving range, academy, golf shop and clubhouse.

Bedrooms: 3 Bathrooms: 2 Energy: D

Living area: 183 m2 Plot size: N/A Ownership: Delaware Co.

Ref. 26125QP Guide price: EUR 795,000

RITA CASTELO BRANCO SALES EXECUTIVE

Cool townhouse in a great location Q UIN TA DO L AGO

This is a cool and modernised townhouse with a great feel to it. In my opinion the open kitchen really improves the flow. A 3 bedroom property ready to move in, with a very pleasant outside space. Good facilities on site: big pool, gym and a nice Italian restaurant. Location is also a plus as it’s just beside The Campus and a 10-minute walk to the lake. Bedrooms: 3 Bathrooms: 2 Energy: C

Living area: 158 m2 Plot size: N/A Ownership: Private

Ref. 84191QP Guide price: EUR 690,000

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Immaculate split-level luxury apartment Q UIN TA DO L AGO

A fantastic lock up and go apartment in the heart of Quinta. It is beautifully presented and has great views over the lake and the San Lorenzo golf course. It’s easy to imagine having breakfast on the terrace while enjoying those views! The development itself has excellent on-site facilities. Great property! Bedrooms: 2 Bathrooms: 2 Energy: C

Living area: 107 m2 Plot size: N/A Ownership: Delaware Co.

Ref. 54017QP Guide price: EUR 550,000

REBECCA PATTERSON SALES EXECUTIVE

Attractively refurbished apartment in Encosta do Lago Q UIN TA DO L AGO

This top floor apartment has been thoughtfully renovated to enhance the airy and bright interiors. I particularly love the high vaulted ceilings and seamless wood flooring, which give it an extra sense of space. The communal swimming pool, gym and tennis courts, and Quinta do Lago lake’s facilities nearby, give you everything you need within walking distance. Bedrooms: 2 Bathrooms: 2 Energy: D

Living area: 128 m2 Plot size: N/A Ownership: Malta Co.

Ref. 83834QP Guide price: EUR 495,000


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Great lock up and go apartment VA L E DO LO B O

A fabulous property with lovely contemporary finishes; the slate walls and wooden floors give a warmth to this large, modern apartment. The location is great; easy access to golf, beaches and local restaurants. A great, easy to maintain, lock up and go property.

Ref. 85126QP Guide price: EUR 895,000

Living area: 162 m2 Plot size: N/A Ownership: Private

Bedrooms: 3 Bathrooms: 3 Energy: C

LUKE BEGLEY SALES EXECUTIVE

Charming townhouse close to the beach VA L E DO LO B O

This property really packs a punch - it’s a bright and spacious 3 bedroom, semi-detached villa with a private garden and pool at the end of a quiet cul-de-sac. All of this in a fantastic location, less than a 10-minute walk to the beach. Just picture strolling back from a long sunny afternoon of sunbathing and swimming to this cosy little pad - Heaven. Bedrooms: 3 Bathrooms: 2 Energy: C

Living area: 143 m2 Plot size: 318 m2 Ownership: Portuguese Co.

Ref. 85383QP Guide price: EUR 595,000


ALINA HRITUC SALES EXECUTIVE

Sunny duplex apartment with Jacuzzi VA L E DO LO B O

I believe this lovely apartment in Vale do Lobo is an ideal holiday home, especially for those who love to play tennis, followed by sundowners on the rooftop terrace or a dip into the Jacuzzi. The apartment is spacious, very well maintained and ready to move into.

Bedrooms: 3 Bathrooms: 3 Energy: D

Living area: 218 m2 Plot size: N/A Ownership: Private

Ref. 85349QP Guide price: EUR 559,000

MARIO SARDO SALES EXECUTIVE

Delightful apartment within Vale do Lobo VA L E DO LO B O

This is the perfect ‘lock up and go’ style apartment! Well situated on the estate and built to a good standard. This apartment is ideal if you’re looking to simply break away from the hustle and bustle of city life and come and enjoy a few days of superb golf, spa treatments or long, lazy lunches on the beach. Bedrooms: 1 Bathrooms: 1 Energy: D

Living area: 92 m2 Plot size: N/A Ownership: Private

Ref. 86050QP Guide price: EUR 340,000


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Stunning estate in a magnificent country setting SA NTA BÁ R BA R A D E NE XE Without a doubt, one of the best estates in the Algarve. Difficult to fault as everything in this manor type villa is perfect, inside and out! I think it is ideal for anyone who wants the countryside feeling, total privacy, but it also ensures the highest level of living, with all the amenities one would expect from a stately home.

Bedrooms: 7 Bathrooms: 7 Energy: B

Living area: 1,150 m2 Plot size: 9,000 m2 Ownership: Malta Co.

Ref. 84369QP Guide price: EUR 7,950,000

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Magnificent countryside villa LO UL É C O UN T RYS I DE One of my favourite properties in the countryside, this outstanding villa has everything you expect: space, elegance, beautiful finishings, lovely gardens, swimming pool and gorgeous views. It is ideal for entertaining family and friends! Also, the property is very close to the charming town of LoulÊ, the airport, world class golf courses and golden beaches.

Bedrooms: 4 to 6 Bathrooms: 4 to 7 Energy: B

Living area: 535 m2 Plot size: 5,053 m2 Ownership: Private

Ref. 86055QP Guide price: EUR 3,950,000


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DEBBIE PUGSLEY SENIOR SALES EXECUTIVE

New and beautifully finished contemporary villa LO U L É This villa has all the style, quality, comfort and space of one of the better houses within Quinta and Vale do Lobo, but it has a perfectly beautiful and very private country setting. It is just a 10-minute drive to Almancil and actually has views over the coast to the ocean. The villa is brand new and so tastefully finished. It is just waiting for a family to come and snap it up.

Bedrooms: 4 to 6 Bathrooms: 6 Energy: B-

Living area: 785 m2 Plot size: 17,012 m2 Ownership: Private

Ref. 85422QP Guide price: EUR 2,950,000


REBECCA PATTERSON SALES EXECUTIVE

Charming villa with stunning garden close to Quinta do Lago N EA R Q UIN TA DO L AG O This is a very attractive and charming villa, just on the doorstep of Quinta do Lago, that has rustic features perfectly fused with luxurious modern twists, accentuating every room to its full potential. For me though, it is the garden that caps this property off perfectly, as it is an inviting oasis for fun, rest and relaxation.

Bedrooms: 5 Bathrooms: 5 Energy: B-

Living area: 659 m2 Plot size: 3,220 m2 Ownership: Delaware Co.

Ref. 83222QP Guide price: EUR 2,750,000


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RITA CASTELO BRANCO SALES EXECUTIVE

First class villa within walking distance of the beach N E A R Q U I NTA D O L AG O This is, without a doubt, a great option for anyone that prefers to be outside the main resorts but still prioritises quality living. It’s in immaculate condition and ideally located a short distance not just from the beach but really close to everything!

Bedrooms: 4 Bathrooms: 4 Energy: D

Living area: 458 m2 Plot size: 980 m2 Ownership: Private

Ref. 84747QP Guide price: EUR 1,950,000


LUKE BEGLEY SALES EXECUTIVE

Chic villa in a desired hillside location VA L E F O RMO S O Escape the resort life to a wonderful family villa located just a 10-minute drive from the beaches. This villa combines a traditional exterior aesthetic with a wonderful more contemporary interior. Living in this area, I can testify to the beautiful coastal views and there’s a smart wooden gazebo for sitting out in the evenings and enjoying those views. Bedrooms: 4 Bathrooms: 4 Energy: C

Living area: 398 m2 Plot size: 2,530 m2 Ownership: Delaware Co.

Ref. 86051QP Guide price: EUR 1,500,000


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Stylish and pristine villa CLO SE TO Q U I NTA D O L AG O A N D VA L E DO LO B O The fundamentals of the design are clean and simple, and this forms the basis of the spacious open plan living areas. The property has been built to a high standard, having the latest in modern specifications, but it’s the location that defines this property for me. The tranquillity of the Ria Formosa and surrounding pine trees set the tone; so if its relaxing by the pool or entertaining friends and family, I have no doubt the memories will last forever.

Bedrooms: 4

Living area: 410 m2

SBathrooms: O H O -4 N E W Plot YOsize: R K1,142 m - U2 S A Energy: B

Private 2Ownership: 1, 000, 000 USD

Remarkable penthouse customised for an elegant downtown living experience

Ref. 85354QP Guide price: EUR 1,350,000.

N UA N C H A N V I L L A - B A N G KO K T H A I L A N D 26 5 ,000,000 T HB A truly unique contemporary Thai style project inspired by the Amanpuri Resort in Phuket.


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S O H O - N E W YO R K - U S A US D 2 1, 000,000 Remarkable penthouse customised for an elegant downtown living experience

N UA N C H A N V I L L A - B A N G KO K T H A I L A N D T HB 26 5 ,000, 0 0 0 A truly unique contemporary Thai style project inspired by the Amanpuri Resort in Phuket


92 ST GEORGE’S HILL - SURREY - UK G BP 15, 95 0,000 www.qp.pt/ international / T. +351 289 396 073

Luxury at its finest! Bespoke architecture and meticulous attention to detail in one of the UK’s most exclusive private estates


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CAP MARTIN - FRENCH RIVEIRA POA Stunning fully refurbished villa nestled in a luxuriant setting, offering a panoramic view of Monaco and the sea

www.qp.pt/ international / T. +351 289 396 073


94 LES LUTINS - VERBIER - SWITZERLAND P OA www.qp.pt/international/ T. +351 289 396 073

Beautifully finished family chalet with an abundance of Alpine charm


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S A V I L L S S KSIK I on

Savills has recently published its 10th annual Ski Report, tracking prices and trends in leading ski resorts across the Alps and North America. Paul Tostevin, associate director, of Savills World Research, and Jeremy Rollason, director of Savills Ski, assess residential market performance, drivers and prospects across the Alps and beyond. Who’s buying and where? Jeremy Rollason (JR) - The Alps remain the world’s most internationally invested ski market. Spanning eight countries, each resort is a micro market in its own right and buyer profiles are diverse. Broadly speaking (and excluding the domestic markets), British buyers focus on French and Swiss resorts, the Germans on Austria, while the Dutch, Belgians and other northern European countries make up the international balance across the region. Russians are declining in influence in the top Swiss and French resorts, offset somewhat, by growing (but still extremely low) demand from Asia. How have recent political events in Europe affected Alpine resort markets? Paul Tostevin (PT) - Alpine ski resorts are characterised by low transaction volumes and are slower to feel the impact of external factors than high turnover urban markets. However, wider events still have influence. In France, the Macron government has boosted sentiment, fuelling activity, with both French and foreign buyers now more confident to make a move. The wider Italian residential market is entering a period of stability, while new tax incentives, introduced to attract wealthy individuals, could impact positively on the major Italian resorts.

Brits have historically been an important buyer group in the Alps. Is Brexit having an impact? PT - The international buyer base in the Alps is much broader than it was a decade ago, so Brexit’s impact has been modest. While some British buyers have postponed plans, others have actively sought non-sterling assets to diversify their portfolios, or are taking advantage of a stronger euro and are selling to repatriate funds. There are many challenges facing the industry, how are resorts responding? JR - The volume of money being invested in new projects and infrastructure is testament to confidence in the future of the mountain economy. Crans-Montana, for example, is now actively promoting itself as a ‘city in the mountains’, with dual-season activities, new restaurants and a recently opened British International boarding school. Courchevel recently opened an indoor watersports centre; Val d’Isère is to build a EUR 200 million hotel, retail and commercial centre, while Verbier is benefitting from extensive investment from global hotel brands. From a property perspective, planning consent for development of all sizes is increasingly difficult to obtain across the Alps. Macro policies, such as Lex Weber in Switzerland, will help to address the recent supply/demand imbalance in the medium to long term, as will zoning controls in the French and Austrian Alps. What about income potential? JR - Alpine ski property typically yields between 1.5% and 2.5% net, and the majority of ski property owners look to rent out simply to cover costs.

Leaseback schemes are another option, providing freehold purchase with a discounted purchase price. First favoured in French resorts, the leaseback model has spread to the Austrian Alps, where yields tend to be higher, and, most recently, to Switzerland. Here, it is now particularly valuable as it bypasses the Lex Weber classification of second homes. Net yields are around 2.25%. How do North American resorts compare? PT - North American resorts are highly domestic in their buyer profiles. A bull run in Canada’s national real estate markets appears to be slowing (at least in major cities) following the introduction of cooling measures. But supply / demand imbalances continue to fuel growth in resorts such as Whistler Blackcomb. In the US, also enjoying a strong run, established, low-supply resorts such as Vail have seen annual price growth of 10%. Are there any resorts we should be watching? JR - Scandinavian resorts, such as Myrkdalen in Norway, have flown under the radar of international buyers for many years. They are now rising in prominence, thanks, in part, to the quality conditions on offer. Usually colder, or with more snowfall that their Alpine counterparts, they may be a good hedge against climate change. The established resorts should not be overlooked, however, as they are investing the most and already have the best skiing infrastructure. Large resorts, such as Verbier, Saalbach and Chamonix, have global reputations and benefit from a broad visitor reach.

‘Savills are proud to be sponsoring Performance Verbier Ski School, who have some particularly stylish ski apparel this season’

Jeremy Rollason Director Savills Ski


96 AN EYE ON THE MARKET 2018

F I N E D E L I C AC I E S A S I N T I M AT E TA PA S


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Quadradinhos, Lote 52 Vale do Lobo Almancil 8135-034

T. +351 289 394 699 E. paixa@sapo.pt www.paixarestaurante.com


98 our

F A V O Alison Højbjerg - Director

M O U N TA I N B I K I N G I N THE ALGARVE! We have some of the most beautiful mountain and road biking opportunities right here in the Algarve. I cycle with Paul’s group every week - we meet Saturday and Sunday mornings. The Wednesday tour is for the more hard core mountain biker (it took me 2 days to recover the last time I foolishly decided to join them!!). The meeting point is different on each ride and it’s such a fun way to see some of the more beautiful hidden parts of the Algarve you’d otherwise never see. Ask Paul to put you on his mailing list - he can also organise a bespoke route just for you.

restaurant each Wednesday. I also love shopping at Andrea’s Mundo Saudável in Almancil - huge variety of organic food. It’s just down the road from Apolónia and she does a mean smoothie! Kerstin Buechner - Director

C H A R T E R A B O AT I N T H E ALENTEJO - AMIEIRA MARINA In the middle of the Alentejo, miles from anywhere, there is a beautiful and completely undeveloped lake, the Alqueva. It is 90 km long and quite narrow. Charter a motor

Alison Højbjerg - Director AN EYE ON THE MARKET 2018

YOGA AND HEALTHY EATING So many great yoga options. Check out Quinta da Calma’s programme, just to the east of Almancil. They also have an organic market and a vegetarian

Mountain biking

cruiser with either 2, 3, 4 or 5 berths. Pack cool boxes, a book and some suntan lotion and... escape! Don’t expect restaurants or even other boats; just fabulous, unspoilt countryside and the company of those you choose to take along. They also rent kayaks and stand up paddle boards to take with you. The water is wonderful for swimming; the sky at night is incredible. I recommend at least 2 nights. 3 is better. Tie up anywhere on the banks before sunset, light the BBQ and open a bottle of something lovely.


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U R I T E Kerstin Buechner - Director

LOULÉ MARKET

Every Saturday morning, there is a local market in the heart of Loulé with a huge variety of fresh fish, great butchers, fresh fruit and veg, local cheeses and sausages, olives, traditionally baked bread and flowers. Have a lovely coffee and cake in one of the cafés and people watch. There is also a gypsy market for clothes, bags, sunglasses, etc. on the western edge of the town your kids will love it too!

Debbie Pugsley Senior Sales Executive

Rebecca Patterson Sales Executive

A LT E

GOLF

A delightful Algarve village with whitewashed houses; narrow, cobbled streets; and charming restaurants and cafés. The church sits in the centre of the village with a picturesque stream running nearby. Many festivals are celebrated in this delightful small town, including Carnival.

It is so cliché, but golf really is one of the best things to do here and one of my favourites. And playing in Monte Rei is particularly exceptional. The Jack Nicklaus course is challenging but fun. I love the service and that they attend to your clubs whilst you’re taking in the vista with a drink at the 19th hole. You even come away with your name engraved on a Monte Rei bag tag. Love it! Just on our

Debbie Pugsley Senior Sales Executive

MONSARAZ IN THE ALENTEJO Monsaraz is a beautiful medieval castle, where locals still live and work within the walls. Its privileged location, on the top of a hill with magnificent views over the Guadiana river, makes it a perfect place to sit and enjoy lunch in one of their splendid restaurants. It is an easy 2 hour drive from Quinta do Lago into the Alentejo, passing well known and loved vineyards along the way.

Monsaraz, Alentejo

Sintra

things ...

doorstep though are the world class Quinta do Lago courses which are excellent and incredible fun especially when played on a competition day with the Golf Club members!

SINTRA, PORTUGAL One of my favourite places in the whole of Portugal, and a truly wonderful setting for a day or two away, is romantic Sintra! Even though the secret is now out and it is very popular, it still retains all its magic for me. The forested hills,


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O U R FA V O U R I T E T H I N G S flamboyant Palácio da Pena and crumbling ruins of an ancient Moorish castle make it feel like you’ve landed in the setting of a classic fairytale. If you are just passing, the beautiful Palácio de Seteais is a stunning setting for afternoon tea or, if you’re very lucky, an idyllic place for a peaceful night or two! Luke Begley - Sales Executive

SUSHI PEARL This fantastic little sushi bar is located just off the marina in Faro. The pairing of this Japanese cuisine with the Algarve’s abundant fresh fish isn’t new, but nowhere does it quite so well as this wonderful little restaurant. Afterwards, you can pop over to Columbus cocktail bar or to the top of the Faro hotel for a drink with a view.

FOUR SEASONS COUNTRY CLUB More nights than I’d care to admit, I can be found working off the ‘luxurious’ Algarvean lifestyle in the gym of the Four Seasons Country Club. Thankfully, I’m not alone in that endeavour; however, the Four Seasons is so much more than a fitness club. Throughout the year, the club is a beacon for Quinta do Lago residents, as well as tourists, to meet and take advantage of the fantastic facilities. However, it is in the winter months that I find the place to be especially important - throughout the weeks’, the club hosts table quizzes, gin and wine tastings, snooker nights, and various themed dinners that consistently draw in large crowds,

Four Seasons Country Club

making the Four Seasons a fantastic melting pot and a wonderful opportunity for new owners to make friends. Rita Castelo Branco - Sales Executive

SURFING!!! Wide swell window, warmest European water and climate - what’s not to like? Choose between the south and west coasts.

SUP TRIP/ CLIFF DIVE Paddleboard off the south west coast of the Algarve and explore secret grottoes, hidden beaches and huge cliffs. There’s also

Restaurant A Sardinha

coasteering adventure in south west Algarve: swimming in the ocean and inside sea caves; climbing and walking along the rocky shoreline; and doing some cliff jumping! You can even jump inside the grottoes! Mario Sardo - Sales Executive

WAT E R S L I D E PA R K S My girls love the water slide parks! Our favourites are Aquashow and Slide & Splash. We love the wave pool and tubes at Aquashow and the foam slides at Slide & Splash are a must. The fun, however, doesn’t stop there as there are wildlife attractions, fun rides and plenty

of grassy areas to enjoy a picnic and an ice cream!! Lina Abreu - Office Manager

TA PA S 1 1 D A V I L L A , L O U L É Authentic Portuguese tapas are served in this little gem of a restaurant with efficient, friendly staff and delicious food. Enjoy the great ambience; beautiful, ancient, vaulted ceilings; an interesting photography display; and occasional live music.

RIA FORMOSA N AT U R E R E S E R V E I love walking along the Ria Formosa nature reserve and end up at Faro Island, where you can enjoy a big toasty and lovely coffee. The nature reserve is quite magical and you can observe many different species of birds along the way. Susana de Almeida - Administration

I S L A N D S B Y B O AT AN EYE ON THE MARKET 2018

Algarve Seafari Boat Tours

Water Slide Parks

I also love the Ria Formosa and the magnificent islands of Farol, Culatra, Armona and, obviously, the amazing Deserta Island with its restaurant. The only way to access these splendid islands is by boat, which you can take from Olhão. My good friend, Pedro Cardeira, has started a RENT-A-BOAT company


C O N T AC T S and offers a wide range of boats, manned or not. Ideal for a great family day out.

beach, and serving fabulous fish specialities with a great wine list, as well as yummy Mojitos. The beach is also reachable by boat and dinghy!

COLUMBUS BAR - FARO Visit Faro and walk around the delightful historic centre that is encircled by ancient city walls, while the pretty city centre is filled with pedestrianised shopping and pretty plazas. Stop for a drink or for a snack at the best bar in town. Columbus Bar serves the best cocktails or try one of the home made teas while enjoying the view over the marina.... ideal for any age and open all day...

Tina Billington - Administration

R E S TA U R A N T E VA R I S T O SESMARIAS

HORSE TREKKING ON THE SALGADOS N AT U R E R E S E R V E Nothing feels more like freedom than the wind in your hair as you gallop along an open stretch of beautiful sand. If you’re in the Algarve in the winter months, then the Quinta da Saudade riding stables are the place to go. During the rest of the year, when the beach is occupied, you can enjoy treks out onto the Salgados nature reserve.

T. +351 913 226 954 www.algarvebikeholidays.com

T. +351 282 340 800 www.slidesplash.com T. +351 289 315 129 www.aquashowpark.com

YO G A A N D H E A LT H Y E AT I N G T. +351 289 393 741 www.quintadacalma.com T. +351 289 398 370 www.mundosaudavel.pt

CHARTER A BOAT IN THE ALENTEJO A M I E I RA M A R I N A T. +351 266 611 173/4 www.amieiramarina.com

T. +351 289 400 600 www.cm-loule.pt

M O N S A RA Z I N T H E A L E N T E J O

TA PA S 1 1 DA V I L L A , L O U L É T. +351 289 093 049

R I A F O R M O S A N AT U R E R E S E RV E T. +351 918 720 002 www.formosamar.com

I S L A N D S B Y B OAT T. +351 926 669 655 www.rent-a-boat.pt

C O LU M B U S BA R - FA RO T. +351 917 776 222 www.barcolumbus.pt

www.lonelyplanet.com/portugal/monsaraz

MONTE REI GOLF & COUNTRY CLUB T. +351 281 950 960 www.monte-rei.com/pt

ALGARVE SEAFARIS B O AT T O U R S

PA L ÁC I O D E S E T E A I S - S I N T RA T. +351 219 233 200 www.tivolihotels.com/pt/tivoli-palaciode-seteais

Surfing

SUSHI PEARL

R E S TA U R A N T A S A R D I N H A

T. +351 289 591 666 www.evaristo.pt

A L G A RV E S E A FA R I S B OAT TO U R S T. +351 289 302 318 www.algarve-seafaris.com

R E S TAU RA N T A S A R D I N H A T. +351 289 591 600

HORSE TREKKING ON THE

FOUR SEASONS COUNTRY CLUB

T. +351 968 054 013 www.cavalosquintadasaudade.com

SURFING!!! T. +351 916 168 912 www.clubesurfaro.com

SUP TRIP/ CLIFF DIVE Horse Trekking

RESTAURANT EVARISTO - SESMARIAS

T. +351 915 777 879 www.sushipearl.com

T. +351 289 357 000 www.fourseasonscountryclub.com

Kimberley Tucker - Client Liaison This is actually a team favourite. Restaurant A Sardinha is idyliclly situated on the west side of Albufeira in a small cove of Praia dos Arrifes. Perfect for children to play in the warm rock pools while little fish swim around their feet. It’s also ideal for snorkellers. A Sardinha sits just up from this

WAT E R S L I D E PA R K S

LOULÉ MARKET

A fish and seafood restaurant situated in an idyllic cove of white sand. The fish and seafood are always fresh and grilled to perfection, while friendly staff provide a quality service to make your experience a unique moment never to be forgotten. Always pre-book your table in advance to avoid disappointment.

Big game fishing, half day cruises and a sunset party boat with DJ. My personal favourite is the Full Day Coastal Cave Tour; you cruise along the Algarve’s spectacular coastline with beautiful beaches and some of Europe’s largest caves. Break at Paradise beach where you can enjoy a BBQ lunch on the beach, a swim, a dive, or just relax. Also don’t be surprised if the dolphins come to visit along the way.

MOUNTAIN BIKING IN THE ALGARVE!

T. +351 926 823 579 www.watersmile.pt

S A L G A D O S N AT U R E R E S E RV E


www.qp.pt

QP SAVILLS Quinta Properties

Avenida da Gondra, Quinta do Lago, 8135-162 Almancil, Portugal T. +351 289 396 073 E. info@qp.pt

QP SAVILLS Vale do Lobo Properties

Avenida do Mar, Vale do Lobo, 8135-034 Almancil, Portugal T. +351 289 009 810 E. vdl@qp.pt

AMI -1252

QP Savills - Property Guide 2018  
QP Savills - Property Guide 2018  

Luxurious designed Annual Report. Comprehensive market report and extensive property portfolio for leading Real Estate company in the Algarv...

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