SIMPLY
ALGARVE ISSUE NO. 52 NOV 2020
by Dora Guerreiro
Buy with Confidence, Sell with Success! Your home, your lifestyle...It´s our purpose.
DG Algarve Properties | (+351) 289 355 336 | (+351) 912 391 925 | dora@dgalgarveproperties.com Estrada de Vale do Lobo, Rua Manuel Teixeira Gomes 947 1Âş Dto, 8135 - 016 Almancil, Portugal
www.dgalgarveproperties.com
AMI 14557
Contents
Welcome!
Take a look at what’s coming in this months issue. Have an interesting story you think should be shared? Email us at simplyalgarvemag@gmail.com 6 WORTH KNOWING News, views, and some very good ideas
8 PALACIO GAMA LOBO Take a look at one of loule’s standout buildings
12 ALL THINGS SWEET Janet Shook explains why she runs away from the awful stuff!
14 SWIMMING IN WINTER? Advice from our local energy saving experts
ART DIRECTOR Jake Bassett +351 966 044 143 simplyalgarvemag@gmail.com
16 FABULOUS FOOD We share a meal with bio.teqium’s Marcelo
20 FONTE FERREA PARK Photo opportunities at the serene Fonte Ferrea Park
26 SELLING YOUR HOME IN A PANDEMIC An update on the property market by YellowHomes.
28 PROPERTY OF THE MONTH Could this be your dream property?
30 DESIGNING YOUR HOME Creating a peaceful bedroom
34 CARING FOR PARADISE Verona ‘Paradise’ talks us through her hobby
36 RECIPE OF THE MONTH Pumpkin soup!
38 BOOK CLUB Calling all book worms!
40 PROPERTY INVESTMENT Vitor Reis talks Golden Visas
43 FINANCE Your questions, answered by our expert
44 GOLF A tip from the pro’s!
PUBLISHER Richard Bassett
CONTRIBUTORS Ricardo Chaves Richard Hudson Robert Bijker Isabela Gonçalves Verona Schroder Janet Shook Vitor Reis Jake Cleaver Portugal News AlgarveDailyNews Portugal Resident Jake Bassett ADVERTISING 966 044 143 simplyalgarvemag@gmail.com All rights reserved. Except for normal review purposes, no part of this magazine may be reproduced without the written permission of the publisher. Every care has been taken in the preparation of this magazine, but the contents are only meant as a guide to readers. The proprietors of this magazine are publishers not agents or sub agents of those who advertise therein. The publisher cannot be held liable for any loss suffered as a result of information gained from this publication.
46 PARTING WORDS Lets talk about liquid magic, sorry, water!
Unipessoal Lda
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News
NEED TO KNOW We bring you more news, local happenings, shop openings, bright ideas as well as helpful hints and charity updates, so you know what to look out for where. Send us your news too, we’ll always include anything of special interest
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THE PLASTIC HIKE PASSES THROUGH OLHÃO
German biologist is travelling the 832 kilometres of the Portuguese coast by foot for 60 days, to collect the garbage he finds on the beaches. The tour aims to raise awareness of the problem of plastic, particularly in the oceans and beaches, and to appeal to environmental awareness and the adoption of more sustainable practices by those who come across the initiative. Everywhere he goes, Andreas Noe challenges volunteers to join this mission, From Foz do Minho to Vila Real de Santo António, the objective of this adventure, which counted on the participation of young
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people from Olhão, is to warn of the importance and urgency of reducing the use of plastics whose percentage of recycling is just over 10 percent. The biologist’s journey through Portuguese lands is being recorded and will later be used to produce a documentary. As for the waste collected this by Alberto Iria’s students at Praia dos Cavacos, the garbage will be made available to plastic artists, who will convert them into works of art. source: theportugalnews.com
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EASYJET TO OPEN BASES IN FARO AND MALAGA NEXT SUMMER
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he Budget airline EasyJet have announced they will create two new ‘seasonal bases’, situated in Faro and in Malaga, in time for next summer. Mainland Portugal and Spain remain off the UK government’s air bridge list due to Covid-19 case increases, but the budget airline plans to ‘base’ three aircraft at each airport, which will create around 200 pilot and cabin crew jobs. The addition of Malaga and Faro means easyJet will operate from 28 bases across its network, with three in Spain - Malaga, Barcelona and Palma, and three in Portugal - Faro, Lisbon and Portugal. Easyjet flew more than 8 million passengers to and from Portugal and 18.5 million for Spain last year. The new bases, to be operational from next spring until the end
of October 2021, will allow Easyjet to better respond to higher customer demand over the summer. The announcement comes as the the airline forecast losses of up to £845 million for the year to September. EasyJet group markets director Thomas Haagensen said: “Despite the difficult environment that the whole industry is navigating through, this move confirms our commitment to these two popular destinations and will enable us to better serve our customers by optimising our schedule over the summer season as well as making a positive economic contribution to each region.” Source: algarvedailynews.com
PORTUGAL WILL INVEST 43 BILLION EUROS IN LARGE INFRASTRUCTURE
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ortugals Prime Minister, Antonio Costa has announced that Portugal will invest 43 billion euros in public infrastructure before 2030. Projects are to include a high-speed rail link between Lisbon and second largest city, Porto. The plan, already approved by parliament, is due to be implemented from January 1, 2021, financed with 12 billion euros from the national budget, another 12 billion from European structural funds, 3.3 billion from recovery funds and 14.2 billion from private investment, Costa said. Investments will focus on transport and energy, the Prime Minister said, with a total of 21.7 billion euros alloted for transport projects and 13 billion euros going towards clean energy projects, focussing around hydrogen production.
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The much-anticipated high-speed rail connection is projected to cost 4.5 billion euros, with another two billion euros set aside for expansion of deepwater ports in Sines, Leixoes and Lisbon. Speaking at a news conference last week Costa said “Economic development involves an increase in the production of tradeable goods and services, giving us greater external competitiveness and increasing exports.” Portugal’s government predicted that the country’s gross domestic product, projected to fall by 8.5% in 2020 - the worst recession in nearly a century - will bounce back with 5.4% growth in 2021. source: algarvedailynews.com
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TOURISM BOARD INTRODUCES NEW FEATURES TO MAKE RIA FORMOSA PARK “MORE ATTRACTIVE”
n a bid to provide a “better experience” for visitors to the Ria Formosa park, the Algarve tourism board (RTA) has introduced new signposting and picnic areas at the Marim centre for environmental education.
Joaquim Castelão Rodrigues, regional director of the Algarve’s nature conservation and forest authority (DRCNF), believes the new equipment will also help conserve the protected species that can be found at the park.
The Centro de Educação Ambiental de Marim, or CEAM, now boasts new information panels, new signs directing visitors through the correct trails, and areas to sit and relax while enjoying a picnic.
The investment was carried out by RTA as part of the Valuetur project, a cross-border initiative with Spain which aims to renovate or breathe new life into the region’s “existing heritage”.
This centre is located in Olhão and is the headquarters of the Ria Formosa Natural Park. It is also home to RIAS, the region’s only wildlife rehabilitation centre. While the area is popular among nature lovers due to its natural beauty and vibrant wildlife, the regional tourism authority felt the centre could be “more appealing”. Says RTA, the new information panels and signposting were created to “guide visitors along their hike through the natural park” and hopefully the new features will attract more people to the area – around 30,000 visit annually. This was the latest step in the tourism board’s strategy to bolster nature tourism in the Algarve, a niche which it believes has “great potential to grow” – perhaps even more so now when more holidaymakers are looking for destinations where they can enjoy activities in the open air, away from crowded places.
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The tourism board is also working on several new brochures to promote the Southwestern Alentejo and Costa Vicentina Natural Park, the Ria Formosa Natural Park, and the Sapal Nature Reserve of Castro Marim and Vila Real de Santo António. They will be available in Portuguese, English, Spanish and French and will feature useful information such as maps and points of interest. “Valuetur is another example of a successful cross-border collaboration,” says Algarve tourism chief João Fernandes. “Through this project, we are able to strengthen our commitment to nature tourism, a product which is becoming more and more popular among national and foreign holidaymakers and which a few years ago accounted for 22 million annual holiday trips in Europe,” he adds. source: portugalresident.com
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You should know
PALACIO GAMA LOBO We invite you to take a peak inside one of Loulé’s standout buildings, the Gama Lobo Palace. Now the home of Loulé Creativo, a project aimed to enhance the identity of Loulé with creativity and innovation 8
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he Gama Lobo Palace is considered a landmark in Loulé’s civil architecture. It is located on the northern slope of the historical city. Restored and reopened by the Loule council in 2019 as the new headquarters of Loulé Creativo, a development project that focuses on the value of local culture and heritage. Loulé Criativo has several departments including Creative Tourism, the Loulé Design Lab and a workshop networks: palm weaving, clay and copper, the watchmaker and luthier studio. Every year they develop a program of activities around cultural heritage, traditional arts and crafts and design. The Solar Gama Lobo, which is part of the Chapel of Sant’Anna, is a remarkable example of civil architecture
in Loulé, its preservation is an essential testimony of the architectural heritage of the 17th century and landmark of urban development. It is a monumental building positioned on the northern slope of Loulé. It stands out from the other manor houses or noble houses that are closest to it by its innovative materials and its simple though rigorous and metric composition along side the distinct portico and coat of arms. all of this made it monumentality unique without distorting its conceptual principles. The palace began its construction in the last half of the 18th century, almost 50 years after the Chapel, and its conclusion records dates from the end of the 19th century. The author of the project is unknown, he respected the classic model (arts and knowledge) and architectural typology and a lot of care was taken to integrate the
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You should know
Chapel into the completed complex. Designed for the Gama Lobo family, the construction work on the manor house was embargoed by a law of the Marquis of Pombal in 1775 and would only be completed almost 100 years later by António José de Mattos Mexia da Costa, married to D. Maria Augusta Mascarenhas, the heiress to the property obtained after two inheritance successions and who concluded the construction of the Solar respecting the original layout. (the chimney records a recorded date of 18.07.1884 in the interesting form of a cross) In 1887 the building was registered at the Loulé Land Registry and in 1895 it was inherited by his daughter D. Maria Bárbara de Mascarenhas de Mattos.
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In 1902, the property was bought by Cazemiro de Aragão Barros. The Aragão Barros family moved into the property and after some remodelling they remained in the manor until 1936 when they rented the building and the Quinta da Boavista to Spanish Jesuit who took refuge there and built a new building at the back of the manor house to run the Gonzaga College of Classic Studies, better known as the College of Spaniards. The Spanish Jesuit friars returned to their country in 1939 after the end of the Spanish Civil War. The Aragón Barros family returned to the manor house and started the operation of “Sociedade de Tecidos e Sacaria, Lda” in the ground floor space of the school, transferring the licence to Quinta da Boavista in 1941, and also enlarged the nascent wing, in the back of the building, for the operation of another commercial activity related to figs and the grinding of dried fruits.
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In 1946, the Serviços Sezonáticos Concelhios settled in a part of the building. These services are in the memory of many Louletanos. They had the function of eradicating infectious diseases such as malaria and other tropical diseases. The City Council acquired the space in 1984 and was occupied by several groups and associations and the property was classified as a Monument of Municipal Interest in 2014. The Municipality of Loulé restored the building with the project led by architect Luis Guerreiro. This investment was around 1.3 million euros, with European funding. The restoration work achieved a happy compromise between heritage preservation and adaptation to contemporary needs for its use.
The building today is a hub of creativity, the headquarters of “Loulé Criativo”, a project of the Municipality of Loulé that is committed to enhancing the identity of the territory with creativity and innovation as its driving force, supporting the activity of craftsmen and professionals in the creative sector and stimulating research and experimentation. Free visits to the Palace, Shop and Exhibition are available Monday to Friday: 9am - 1pm / 2pm - 6pm Saturday: 9am - 3pm Free accompanied visits: Thursdays at 10am. Pre-booking by email: loulecriativo@cm-loule.pt or +351 289 400 829 Maximum number of visitors: 5* *except for people from the same family or organised groups up to a maximum of 10
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Your Health
ALL THINGS SWEET
Janet Shook gives us her take on sugars and how we should manage them in our diet to keep us as healthy as possible.
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hen someone asks me if I want sugar with my tea, I love to answer “No, I am sweet enough”, which is a bad joke to lighten up my inner voice which is saying “Are you kidding?! I wouldn’t touch the stuff. Are you trying to kill me?”
Truth be told, I do have a sweet tooth. I love sweet things, and I acknowledge that I often use sweet foods to give me a mood boost or quick energy. Afterall, that is what sugar does. That is why we crave it. We are hard wired to want sugar as an energy source. So much so, that not only does it taste good, but it triggers releases of dopamine and serotonin- two powerful happiness hormones. Your body actually rewards you instantly for eating the sugar. But this is a short lived high, and we end up very quickly only wanting more. Sugar brings us to great heights, and low depths (Sounds a bit like a drug doesn’t it?). For our ancestry this relationship of sugar to happy hormones was not a problem, because sugar was hard to come by, and you had to work for it, which balanced it out in the end. However, this is now not the case; sugar is nearly impossible to avoid. Sugar is in everything and in large quantities. Our palates have been so accustomed to sugars that we can even become unsatisfied by foods without it. Even pot noodles can have half your daily recommended allowance of sugar. Well why not sugar? Why can’t we just indulge and ride on one sugar rush to the next? Because that much condensed energy is just too much for the system to handle. You can’t burn it all off, and so it goes into the
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liver and is converted into fat for storage in case of famine. But the famine never comes. Only the fat. You can also appear skinny on the outside but have dangerous fat storage on the inside, such as fatty liver syndrome. A lot of people then start to curse fruit for it’s high sugar content, but let’s get clear about this. Fruit is not the culprit. Eating fruit has never killed anyone. Eating the wrong fruits as a diabetic alongside a diet high in fat’s is a risk factor, but that’s another issue. The sugars we want to be wary of are the “Free Sugars”, such as in refined sugars, honey, syrups or fruit juices. They are already pre-extracted and therefore the body doesn’t have to work for them. They shoot right in. So maybe you are drawn to the artificial sweeteners, thinking they will save you. But they in themselves contribute to a whole slew of other complications; effecting the microbiome and your ability to healthfully digest foods, elevating insulin levels or tricking the body into feeling hungry by not providing any sugars in spite of having eating. The scariest for me is their ability to cross the blood-brain barrier and alter the chemistry of the brain. Studies have shown interferences in cognitive ability and memory loss. Aspartame, perhaps the most common artificial sweetener, creates inflammation in the brain and can effect eye function. Artificial sweeteners can be hundreds, sometimes thousands of times sweeter than even refined white sugar. So, by using them we are getting our taste buds used to extreme sweetness. What happens the next time you try to satisfy your sweet tooth with a piece of fruit? It might not cut it. If you have a bit of a sugar addiction, you must go through an adaptation period whilst you re-train your palate to appreciate
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the subtle goodness of natural occurring sugars by using whole foods to sweeten your palate. My favorite is a stevia plant leaf in my tea. There is no evidence of any blood glucose levels increasing through stevia and it is indeed very sweet. Let’s bring it back to the heart of the matter. Why are we so desperate for that quick energy release and those happiness hormones? Are we exhausted? Are we not getting enough natural highs from the little pleasures in life?
Take a look at your life, where can you add sweetness? More snuggles from your loved ones? More sunsets at the beach? More dancing? More smiles? More massage treatments? You deserve sweetness in your life. And you also deserve a long, happy healthy life. Let’s figure out how to have both. If you have any questions for Janet regarding your diet or well being, give her a call at +351 927 393 217 or visit her website janetshook.com
TU is here to encourage initiatives that promote the exchange of ideas, projects, events, studies and cultural diversity. Our main aim is to create conditions to highlight the potential and capabilities of each one. All our members are volunteers.
Get in touch, let’s work together for a better future with new ideas, projects and a big community of volunteers. Office: Rua dos Torneiros s/nº - 8100-566 Loulé www.facebook.com/associacaotalentosunidos Email: selmafer.tu@gmail.com Tel: +351 934 436 515 November 2020
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Green
SWIMMING IN WINTER?
Once the temperatures start to cool at the end of September, on go the covers. And that’s it – moth-balled ‘til April. But it doesn’t have to be. A few decades ago, it might have been the case. Unless of course, you were one of the stalwarts who jumped in and never minded the freeze. But there are many benefits to swimming in the winter…
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irstly, and fortunately, the Algarve doesn’t get really cold. Not like the north of Portugal or beyond. That’s good news. And swimming in cooler temperatures is believed to help. By swimming year round you’re actually increasing your fitness and strength. You’re also improving your immune system. Keeping that strong will help defend against standard colds and normal winter flu. The trick is, on getting out, wrap up warm and keep your body temperature. Swimming has been proven to assist with brain development, coordination, motor skills, concentration, academic performance and
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balance. Regular exercise is proven to be beneficial. If you’ve decided there’s no need to winterize, here are the benefits. No draining the pool and securing it. That meant refilling it the following spring (with at least 3 days’ worth of metered water!) which is costly or reducing the water level to carry out chlorine shock treatment. No expensive proprietary winterising liquids – those long-life algaecides that help prevent fungal growth during winter, or a final running of the filtration system and backwashing before covering up. No draining water out of your pump, filter and heater to let the water out. This stopped freezing inside and damage and of course, forgetting to store the plugs in the
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basket of the pre-filter, so you didn’t lose them. So this winter we’re talking about keeping the pool running normally – as you are. And it’ll make the rear terrace look fabulous. No falling into an empty concrete hole. You can show off to friends by diving in on Christmas day to swim off the turkey. All good, but one thing: you may need to install a freeze protection sensor. That keeps the pump running. Moving water means no icy pipes. Usefully, water reaching below forty degrees Fahrenheit starts the pump… … So perhaps invest in something like UPLive’s range of Sirius solar systems which allow you to obtain clean, free energy. Their full-inverter technology (which powers the compressor and fan), heat pump has been developed to heat swimming pools at the lowest possible cost. The idea from start-up is the heat pump works at 100% capacity until the desired temperature is reached. It has an intelligent dual mode operation so it will then run on average, around 50% of capacity when your pool is in use. Smart Mode powers up to 100% or Silence Mode allows 80% making it even quieter. Then to capitalize on that, why not fit an AstralPool N-Carlit pool cover. It’s perfect, combining safety and reliability with a modern design. The floating ridge slats cover the entire pool to offer security. Easy to use, they can be uncovered soundlessly with the turn of a key. They act as a thermal barrier to prevent heat loss. It’s also a basic temperature control. That in turn saves water evaporation and reduces algae growth, cutting costs on chemical treatment. These are available in PVC and polycarbonate and come in blue, white, transparent and black finishes. Depending on your budget, you can have automatic or manual versions. There you have it – year-round swimming, with no fuss. And reduced costs, plus a pretty terrace zone always ready for use. Need to know more – then why not get in touch? Let Casa Verde help you start your journey for a cleaner greener future. Discover your potential when it comes to reducing your expensive utility bills. You could even take a FREE noobligation energy assessment… Quinta Shopping Store 103 (on the first floor), 8135-024, Almancil Phone: (+351) 289 012 373, mobile 967 946 216 Email: enquiries@casaverde-int.com
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Get to know
FABULOUS FOOD We meet with Marcelo and Andreia to get to know the people behind the hands that make the delicious food you’ve seen in the last few recipes featured in the Simply Algarve magazine
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e met with Marcelo and his wife Andreia of bio.tequim in the beautiful Monte Mariposa retreat for a special feast in the hills of Santa Catarina. Marcelo prepared a Tagine along side four Mediterranean vegan dishes each full of wonderful flavours. You may have seen a couple of interesting recipes in the last issues of the Simply Algarve magazine, these are all thanks to Marcelo and Andreia of bio.tequim who provide mouthwatering food though their catering services. With years of experience in the kitchens of various restaurants, they now focus on bringing Vegan and Vegetarian menu’s to your events and sometime host special workshops such as their gluten free, sugar free, lactose free desserts workshops. We asked Marcelo some questions to learn a bit about his background, he initially replied that he likes to let his
cooking do the talking, but we managed to get a few words from him too! How did you start working with food? In 2004 I moved to Tavira from Brazil and started working in bars and restaurants as a waiter. Then, in 2006 I was working in a french restaurant in the center of Tavira, that’s where I decided to stop working as a waiter and started to take cooking classes in a culinary school in Faro whilst also taking a position as a kitchen helper. Where did you gain your experience? After Finishing studying 2 years of traditional and Regional Portuguese cuisine, I worked in the kitchen of several restaurants in Tavira and the surrounding areas. In 2010 my wife Andréia and I were invited to manage a restaurant/ tapas bar, that was my first experience as the head chef, after that we started organizing small caterings services ( Birthday parties, BBQ’s, private dinners, etc…). In 2014
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Get to know
we decided to open our first restaurant, cooking fish and vegetables fresh from the local market. In 2018 we moved on to bio.tequim, one of the only restaurants in Tavira focused on vegan cuisine. Today you prepared a Tagine for us, what makes cooking with a Tagine special for you? In the kitchen I love to use a lot of spices, and for me the flavor of moroccan Tagines are magical, also the Tagine pot is so pratical to cook with in the outdoors, cooking in clay pots gives you all the real flavours from the natural ingredients and ultimately, that’s my goal, to create great food with natural flavours. What is your preferred cuisine? After all these years of cooking I definitely prefer to prepare vegan and vegetarian cuisine. I started cooking vegetarian mainly because of living in Portugal, eating mostly mediterranean style food was a big influence and I believe we can have a better and healthier life by eating vegetarian or vegan diet. For me the mediterranean cuisine is more than just cuisine, it’s a life style. Finally, what can people expect from working with bio. tequim? We have hosted several types of events including birthday parties, yoga retreats and private dinner parties. If you are planning to a vegan or vegetarian event, birthday party, retreat, or just a dinner party, bio.tequim can help you, we also organise gluten free, sugar free, lactose free desserts workshops. So now you know who to call, don’t hesitate to do so! Contact them here: T: +351 964 348 856
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Quality Portuguese cuisine with an International twist...
Enjoy and explore texture, colour & tastes with a carefully selected menu that merges Portuguese flavours and international classics. From Suckling Pig to Calves Liver, Lamb, prawns curry, Fish pie and the daily selection of fresh fish and much more. Vegetarian and gluten free options available. Sit back and unwind, enjoy the perfect combination of food, homemade desserts and a well-balanced list of outstanding Portuguese wines.
Don’t miss our special nights! Wednesday - Curry night Thursday - Suckling Pig night Friday - Fish and Chips (Sole, fresh cod) Open during the month of December. We accept group bookings, respecting all security rules. Maximum 35 people, 5 per table. Open from 7pm Monday to Saturday, closed on Sundays Please call 289 396 638 to book your table
Greenvalleyrestaurant.com Valverde, Quinta do Lago Algarve, Portugal
Worth a visit
PARQUE FONTE FERREA
We spend some time in the countryside at the serene Fonte Ferrea park in S.Bras de Alportel, the perfect location for a weekend picnic or a mid size hike if you are up for the challenge!
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f you travel through São Brás de Alportel and make your way a few kilometres up the hills you will find the serene and beautiful Parque da Fonte Ferrea. As soon as you step out the car you are met with a burst of scents from the diverse flora that surround you, and though you are only minutes away from offices and apartment blocks it feels as though you are in the middle of a forest in the middle of nowhere. The main feature of the park is the stream that runs through it
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and the bridge that towers over the water. There are also various pathways up and around the surrounding hills with a main 4.5 kilometre loop trail which is yours to be explored offering some lovely countryside views as well as a great way to get some exercise in the Algarve’s fresh air and the temperature at the moment could not bet better for it! The name “Fonte Ferrea” comes from the high presents of iron found in the water. Once investigated for potential
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Worth a visit curative properties, the continuous flow of from the hills that surround it has been famous in the area for hundreds of years and it sits alongside the Alportel river which is one of the most important sources of water in the municipality.
Blue Rock Thrush
The Park is also a hotspot for birds as the cork mixed with dense thickets of Mediterranean heather, arbutus, cysts, gorse, bushes, oleanders and willows create a diverse and interesting habitat and provides an abundance of insects and seeds for food, some of the birds you can find are the common Kingfisher, the Common Nightingale, the Iberian Chiffchaff, the Grey Wagtail, the Blue Rock Thrush, the Eurasian Wren and the common Chaffinch and more. Next to the bridge and amongst the trees (safely guarded by stone and rocks) are areas designed for picnics with benches and tables perfect for a Sunday afternoon. They also have fire pits and Bbq’s to make your picnic even better. Please make sure you take care of the area by picking up your waste and keep our beautiful algarve beautiful. Enjoy! Common Kingfisher
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Common Chaffinch
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E legance
ALGARVE
Love of furniture and interior design by Donna
Algarve Elegance is the beauty within your home with a taste of difference and style.
Find us here: Rua vale Fromoso, 8100-267, Almancil or contact us here: T: 960 116 396 E: donna@algarveelegance.com W: algarveelegance.com
Property Update
SELLING YOUR HOME DURING THE PANDEMIC
Stefan Humpenöder, managing director of Yellow Homes - Land & Houses Algarve, discusses the current situation in the property market
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avigating a real estate transaction can be stressful during ‘normal’ times, but COVID-19 has added an extra layer of complexity to the process. During these uncertain times with everchanging rules and restrictions regarding travel and quarantine measures, a lot of people who were thinking of selling a home have wondered whether they should move forward or sit tight until things return to normality. The number of people visiting the Algarve in the past 8 months is sharply lower than previous years, but most of the prospects who visited the Algarve during the pandemic were serious property hunters. There are still a lot of buyers who were ready already before the pandemic hit in March, but they could not find the right property yet. Many of these clients are still more driven than ever because historically low mortgage rates. Others are cash buyers, which are faced with negative interest rates on their savings accounts in their home countries. Owning land and property has always be seen a good way of preserving wealth and protecting capital against inflation. Portugal is and will stay in the focus of the world. It is considered to be a safe, expat friendly country with a pleasant climate and relatively low cost of living and the Algarve in particular has one of the lowest transmission rates (Rt) of Covid-19 in all mainland regions. Some homeowners have chosen to postpone putting their property for sale and some have taken their property of the market resulting in fewer homes available for purchase. That low inventory coupled with good buyer demand means that sellers have less competition and more leverage. Tight supply has kept pressure on home prices. You can still get a great price for your home, and because of increased buyer competition, we are still seeing multiple offer situations and some homes going for over list price. Also the increase in people working from home has made some homeowners
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wonder if they need a larger place or a more functional layout, so they are also looking for a new home. If you want to sell your property in a reasonable time frame and with confidence, you’ll need to know all of your options so you can make an informed decision that best aligns with your current circumstances and goals. What can you do to attract buyers to sell your home in a timely manner? Yellow Homes – Land & Houses Algarve compiled a list of useful tips. From developing a strong online presence to making your home move-in ready, these tips can help shorten the time between listing and selling your home. List your house with a real estate agent who has a proven track record Finding the right real estate agent is the first step and one that should not be taken lightly. To navigate a process involving property documentation and back-and-forth communications between agent, homeowner and prospective buyer, it is advisable to have a professional assisting you. A licensed and reputable real estate agent has the resources to properly list your house. They will understand your needs and then tailor the services to your end goal in any market. Beyond that, their experience can potentially save you thousands of euros and time. Engage a law firm Selling or buying a home will probably be one of the largest and most significant events you will make in your life. It involves property laws which can be unique to the area which can raise special issues/problems not present in other transactions. Without an expert to keep track of all the intricacies of the transaction, you cannot necessarily count on the sale to go quickly or smoothly. Be realistic with your listing price Nothing kills a real estate deal faster than an over-priced
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property. An experienced agent will have good knowledge of the local market and will research the prices of listed and recently sold homes in and around your neighbourhood before putting your house on the market. Having a realistic asking price is critical to sell a home quickly and doesn’t necessarily mean the lowest price. Homebuyers are smart and better informed than ever. They know when a property is overpriced and simply ignore it. Don’t let your listing go stale!
In any event best of luck getting your home sold! Yellow Homes – Land & Houses Algarve www.algarvepropertysearch.com www.algarve-portugal-immobilien.de Vilamoura Office EN 125, Benfarras Boliqueime 8100 - 068 Boliqueime Tel: 289 301 294
Prepare the house for viewings A good preparation is everything! You don’t get a second chance to make a good first impression. Preparing your home Tavira Office for viewers, or “staging” as it’s called, is important and it is the Rua Dr. José Pires Padinha 178 key to creating a pleasant environment. It will not only ensure 8800 - 354 Tavira your property is sold faster but can potentially add thousands of Tel: 281 320 281 euros to its value. (AMI - 6232) Keep the pets away Pets are family. But they’re your family. You may be accustomed to or not be aware of GOLF PROPERTIES - VILLAS - APARTMENTS - TOWNHOUSES - PLOTS the scent which can put buyers off. Let the Light in and light the fire Most buyers want to see that a home has plenty of natural light. Remove heavy draperies and open up the shutters or blinds. If it’s a cold evening or a chilly day, light your fire. Urgent sale: Sell for less than market value. Making a steep price reduction can be a solution when nothing else seems to be working. Your property instantaneously becomes the best buy in the area. If this doesn’t work consider to sell for less than replacement value. It’s an option that should only be used under extreme circumstances if UNIQUE OPPORTUNITY: BEACH FRONTED 3 BED TOWNHOUSE NEAR OLHOS DE AGUA/ACOTEIAS The immaculate you need to reliquify quickly. Speak presented, fully furnished property is part of a small, private condominium with communal pool. It is amazingly set just a stone throw away from the beach and with beautiful sea views. The light drenched and private corner house consists with your agent and/or change of 3 levels, 3 bedrooms and 3 bathrooms. An internal staircase leads to the basement which consist of a very spacious your real estate agent in case they and private garage with automatic doors. Truly unique property 100 meters from one of the best beaches in the Algarve. lost interest. Ref : R-BTO Price: ¤625.000 Energy efficiency C. Final Thoughts Contact us! Our email is info@yellowhomes.com or call us on (+351) 289 301 294 Buying and selling a home in Find out more info on our website www.yellowhomes.com today’s environment definitely looks different than it did this time last year. Yellow Homes – Land and Houses Algarve is taking the proper precautions to keep GOLF PROPERTIES - VILLAS - APARTMENTS - TOWNHOUSES - PLOTS everyone as safe as possible, and keep transactions moving forward. Our company has been successful at selling properties in the Algarve for more than 20 years. It´s still a good time to sell, but you need someone on your side who is up-to-date on the current market and is looking out for your best interests. With more property sales than property listings we are more eager than ever to list quality properties or plots particularly around the areas of Loule, Almancil, Boliqueime, Vilamoura, Carvoeiro and Tavira. If you are considering ELEGANT COUNTRY HOME WITH 4 BEDROOMS AND POOL IN THE CENTRAL ALGARVE selling your property and would This exceptional Quinta ( 400 m2 built area) is designed to highest quality and is conveniently located in the hills close to like to speak with a member the charming town of Loule. The perfectly maintained Villa, with lots of character and charm, is surrounded by natural, of our team then please call us Mediterranean vegetation and is only a short drive away from amenities, beaches and golf courses. Truly unique property. Ref: R-LLJ Price: € 1.950.000 Euro, EC E now on 289 301 294 to make an Contact us! Our email is info@yellowhomes.com or call us on (+351) 289 301 294 appointment. We look forward to Find out more info on our website www.yellowhomes.com hearing from you soon.
November 2020
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Property
PROPERTY OF Real Estate Agent since 1995 T: +351 289 301 294 E: info@yellowhomes.com www.yellowhomes.com EN 125, Benfarras Boliqueime (opposite DHL)
AMI: 6232
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November 2020
THE MONTH Immaculate villa of excellent construction quality located close to Portimao & Alvor on the highest point of a quiet residential area with beautiful views of the surrounding mountains
PROPERTY DETAILS • 2 + 1 bedrooms, 3 bathrooms • Light drenched open plan living/dining area with integrated kitchen and double-sided fireplace • Upper floor with an additional and spacious room of ca. 70 sqm • Utility room • High-quality windows and doors with double glazing and fly screens • High wooden ceilings • Alarm system
• Hot water underfloor heating • Air conditioning • Mains water and sewage • Large carport • Automatic entrance gate and ample parking • Automatically irrigated low maintenance garden • Large swimming pool • Solar panels for hot water • Plot: 2.343 m2 • Construction: 336 m2 • Built in: 2007 • EC: A
¤775,000 Ref: SEP November 2020
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Do It Yourself
Creating a peaceful Bedroom setting... Sesil Home’s Isabela Goncalves uses her latest renovations to give us her take on a peaceful bedroom setting...
This year has been an absolute whirlwind, and we know we are not alone in experiencing increased stress, which naturally, comes with less sleep. To create a good atmosphere for a good night’s sleep, it is important that the space and decoration of our bedroom encourage relaxation and calm. Here are some useful tips to keep in mind!
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November 2020
Calming color palette When it comes to the bedroom, cooler hues are the better choice because of their calming effect. Blue, lilac and cool shades of gray promote rest, while warm tones can often be energizing and more likely to keep you up at night.
Opaque window coverings Your body repairs itself while you sleep, and it needs darkness to do so effectively. There are many options for blackouts that filter enough light so you can wake up in the morning naturally to sunshine yet provide sufficient privacy during the day.
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Minimal Decor Even though your eyes will be closed when you go to sleep, if you have too many distractions in your bedroom, it may be hard to actually fall asleep. It’s wise to get rid of the clutter around your bed. Keeping your bedroom clear of distractions will help you clear your mind at the end of a long day.
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Do It Yourself
Add Extra Layers An extra layer at the bottom of your bed not only creates more texture and warmth aesthetically, but is perfect for pulling up the middle of the night if you get cold.
Treat your senses When you soothe your senses, your body and mind relax as well. Bring sensory delights into your bedroom to create a spa-like, peaceful environment. A few candles by the bed or flowers in a pretty vase, a reed diffusor wafting the delicate fragrance of vanilla, rose, lavender or jasmine; and a sound machine to block out traffic noise or household hubbub is all it takes to make your bedroom a relaxing retreat that you’ll look forward to entering all day long.
Meet Isabela: Isabela studied Fashion and Branding at the University of Lisbon and also completed a course on Trends at Central Saint Martins, after finishing her masters she created her own clothing brand called Hode Studio. During this time she started working as a visual merchandiser at Guess and also working part time at her parents’ shop, Sesil to help when the shop was busy. As time went on she fell in love with the world of decor and the opportunity arose for the family to open a second Showroom in Olhao. Due to this opportunity and her new love for decor, she decided to leave fashion behind and put 100% of her effort into decor, jumping straight into a professional course in the subject and 4 years and a lot of effort later she is now working full time at Sesil, progressing into full scale interior and decor projects. If you have any questions or would like to contact Isabela you can reach her here: isabelafilipagoncalves@ gmail.com +351 917 054 429
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November 2020
Your trusted property valuers and consultants. KTESIOS Appraisal is a company comprised of a series of professionals with a high level of experience in the valuation of properties, assets and companies. Our objective is providing our clients with precise information that allows you to make decisions that maximise the profitability of your projects. To do this, KTESIOS Appraisal follows National as well as International standards and every member of staff has the qualifications necessary to complete any valuation you may need. geral@ktesios.pt | ktesios.pt | (+351) 932 225 090
CARING FOR PARADISE
Meet Verona ‘Paradise’ who literally is... caring for Paradise!
O
ne of the “good” things I busy myself with is caring for our environment. For me, it is a way to express my gratitude for living in such a wonderful place, a little paradise, and it is a means to show my appreciation for life in general. I consider it a true blessing that I am here on this planet and able, physically, to do what I do. It is, in a way, a celebration of and being of service to life itself. It is also a matter of not being able to ignore what I see. If something wrong is seen, it is natural for action to be taken. Simply seeing is where it all starts. Personally, I like to keep life simple. It can seem at times that I live under a rock, or perhaps a more accurate
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description would be that I live under a huge mound of plastic and litter... I go out on my paddle board on average about 3-4 times a week. It all depends on tide times and wind. A good week will see me out nearly everyday, a bad week will mean I am land bound and only able to be on my board once or twice if I’m lucky. On my land bound days, I walk the beaches connected to the mainland and pick litter there and I am part of the Movimento Castro Marim group, helping to coordinate and participate with the cleanup events. To give an indication of the scale of the problem, in the past 1.5 years I have collected over 43000 litres (43 cubic meters) of waste from the Ria Formosa and along the coastline from VRSA to Olhão. To illustrate scale size,
November 2020
the large fuel tankers you see on the road hold about 35000-40000 litres. A hatchback car is roughly 9 cubic meters, so nearly 5 of them. The biggest part of my work is concentrated on the Castro Marim beaches and the Ria Formosa. The litter collected from the Movimento group is not included in this tally, if so it would be much larger. The island I have been working on and protecting for the last 18 months is finally much better. I no longer collect 150 litres of waste each visit as the average now is roughly 50 - 75 litres per time (still, imagine 50-75 bottles or 150 half litre bottles each time). There are 2 or 3 rotten boats (fibreglass) on the island that still need removing though. Between my Instagram and FB account I have my “work� largely documented. I made these accounts to share what is going on with others, the reality of the situation, to create awareness and to share my experiences with others. On both accounts I have had overwhelmingly positive responses and have had messages from individuals that have started to cleanup after seeing my posts. This happens in real life too. People have come up to me to let me know they will start picking litter because they have seen me doing it. Others come up to me to say thanks, or to let me know they do the same and then, of course, there are those that say it is all pointless. I happily disagree with the last category, each piece of litter collected is a win for nature and helps to protect birds and marine life. Since my arrival in Altura, the Movimento group has been
started. It is an initiative of the Municipio of Castro Marim, Sra Filomena Sintra has been a star in getting this off the ground with the help of Sra Nelia Matteus and the full backing of Sr Francisco Amaral. I am very fortunate that many people here are connected to nature and they are passionate about protecting her. My good friends and my new family here are all active members and support the Movimento group. The group continues to expand in members and I look forward to cleanups organised all throughout the Castro Marim Municipality. I know that litter picking is not tackling the source of the problem, however, I believe that awareness can start here. To make sure we have a planet to hand down to the next generation we can take responsibility for the mess we have collectively created, afterall we all use single-use products daily. It starts with first seeing the litter in our natural places and second, bending over to pick it up. It’s pretty easy to make a difference. After picking up a few hundred empty plastic water bottles I imagine it could make a person look at their own purchasing habits. It really is difficult to ignore our own role in contributing to the waste problem while picking up the remnants of single-use litter strewn along the shorelines. Curious to see more? Instagram @rubbishreflections Facebook Verona Paradise
November 2020
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Simply delicious
SIMPLE PUMPKIN SOUP We may be a little late on this one, but try the natural flavour of pumpkin, it’s so good that you need very little to make a beautiful, creamy, full flavoured soup. And while sometimes it’s nice to have a dolled up version with all the bells and whistles, 99% of the time, this simple recipe is more than enough. INGREDIENTS: Pumpkin – Peeled and chopped into large chunks (or purchase it pre-cut).; Onion and garlic Stock/broth and water Milk, cream You don’t need cream to make the soup thicker. All the thickness comes from the pumpkin itself. If you don’t have cream but want extra richness in your soup, just add a touch of butter! METHOD
1 2 3 4
Place peeled pumpkin, onion, garlic, broth/stock and water into a pot; Boil rapidly for 15 minutes until pumpkin is very tender; Use a stick blender or transfer to blender to blitz smooth; Adjust salt and pepper to taste, then add either milk, cream or butter – whichever you prefer.
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WANT TO SPICE IT UP? While pumpkin soup on its own is amazing, and most often served plain, sometimes it’s nice to change things up by adding other flavours! Here are a few suggestions: Curried pumpkin soup – stir in a touch of curry powder once you blitz it, add little by little Thai red curry – start by sautéing 2 tbsp red curry paste in 1/2 tbsp oil over medium heat. Cook for 2 minutes until really fragrant, then proceed with recipe ie add liquids and pumpkin etc. Then instead of using cream, use coconut cream. Garnish with coriander/ cilantro. SO GOOD! Ginger– saute 1 tbsp finely chopped ginger in 1/2 tbsp oil or butter, then proceed with recipe. Lightly Spiced – stir in 1/2 tsp each cumin, coriander and smoked paprika. Turmeric – 1 1/2 tsp each ground turmeric, coriander and 1/4 tsp cayenne pepper
November 2020
November 2020
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Books
ALGARVE BOOK WORMS It’s November and the Simply Algarve book review club is here for the third edition. This is the place you can find out what other book lovers in the Algarve have been reading lately. If you want to get involved and spread the word about a book you haven’t been able to put down - then don’t hesitate to write into us at simplyalgarvemag@gmail.com and we’ll put the word out! Fair Warning by Michael Connelly Veteran crime reporter Jack McEvoy returns after an 11 year hiatus, down on his luck financially and working the consumer watchdog beat. Michael Connelly is best known for his Harry Bosch and Lincoln Lawyer series, and Jack McEvoy hasn’t made an appearance since running down serial killers in The Poet (1996) and The Scarecrow (2009). Connelly was a police reporter for the Los Angeles Times before turning to fiction, and his journalistic roots are evident in McEvoy’s relentless pursuit of the story. McEvoy stumbles on another serial killer when the cops interview him about his one night stand of a year ago who was just found murdered by violent dislocation of her neck. His investigation leads him into the unregulated world of consumer DNA testing, along the way rekindling his relationship with Rachel Walling, a former FBI profiler, and being targeted himself as a suspect in the murder. Connelly twists the plot like a double helix as McEvoy doggedly pursues the story and the killer, and the dialogue crackles and hums. As with all of Connelly’s novels, the city of Los Angeles is a character in the book. This book is an all-night page turner, and it may cause you to rethink that DNA test you’ve been contemplating. Connelly has been called the dean of America’s crime writers with good reason, and I unabashedly confess I’ve read every book he’s ever written. Justine Strand de Oliveira Creativity: A short and cheerful guide, by John Cleese An easy and enjoyable read that informs without preaching. If you want to access your creativity at will, yet are unsure how to do that successfully, ‘Creativity: A short and cheerful guide’ is worth an hour of your time. John discusses the benefits of embracing your hare brain and
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tortoise mind to better access your own creative process. He draws on examples of great inventiveness in science and the arts as well as using engaging anecdotal stories from his own life experience to illustrate his points. The value of the iterative process is presented in his characteristic self deprecating and humorous style. The only four questions the author considers worth asking of readers or interested parties after producing an initial draft of an idea, problem resolving solution or potential narrative or script lurk in the last chapters. There are strict instructions as to how to deal with the answers. The value of managing worry, time management and stripping out the unnecessary in relation to your creative output are all touched on. The ending arrived before I was ready for it, but then John Cleese is, as he states, a great believer in not overstating a point – or theory. Essentially, a simple, accessible book to read in a single sitting, that may well beneficially inform your creative process across your lifetime. Caroline Anderson The Thursday Murder Club by Richard Osman A delightful read consisting of an old fashioned, multi layered whodunnit told in a kindly, amusing and intelligent style. Set in a retirement village, the book combines a lightness of touch with a serious undertone, and is unmistakably the voice and style of the multi talented author. I ordered this book in the audible format, which I
November 2020
would highly recommend to anyone who’s not tried it. At first I wasn’t sure of the reader as I’d somehow expected Richard Osman to be reading it himself, but soon got used to it. It’s like being read a bedtime story! Not a heavyweight book, but a good read, and especially enjoyable for fans of the author. Ann James The Courage to be disliked by Fumitake Koga and Ichiro Kishimi The clear Socratic style dialogue between the Philosopher and a disaffected Youth in Ichiro and Fumitake’s The Courage To Be Disliked is refreshing. A two-part work that explores Adler’s approach to the human condition and assessment of the psychology of Courage. The youth speaks from a Freudian or psychoanalytic position hinged on the idea that your past creates your present experience of life. He challenges the philosopher’s belief, who prefers Adler’s theory, that people can self-determine their experience of life and change. The Philosopher suggests it is the meaning that you give to each event that determines how you are affected, the basis of most current therapeutic approaches. Personal freedom presented as moving away from a natural desire for recognition is interesting. The Philosopher has a radically different interpretation. He asserts that “ Freedom is being disliked by other people”. He posits that being disliked by someone, indicates that you are living authentically, having dropped the fear of being disliked and so have the freedom to live life as you choose, unconcerned by the judgements of others on your route to happiness. A fascinating exploration of many key questions about life, happiness, and the point of any of it. A book to read carefully, savour and enjoy; worth re-reading or dipping into for personal clarification during the process of knowing one’s Self. Caroline Anderson ‘Captain Corelli’s Mandolin’ by Louis de Bernières I read this book shortly after my own first venture into non-fiction and the quality of the writing almost made me abandon my quest! Humour, tragedy and romance abound in equal measure as the Greek island of Cephalonia (now Kefallinia) provides the paradisiacal backdrop to its occupation in the Second World War by a small Italian platoon. Led by the eponymous Captain, whose main goal in life is to make music, their easy-going approach to the task of maintaining order dissipates the hostility of many of the islanders, although members of the Greek Resistance resent both their presence and their attraction to some of the young women to whom they were ‘promised’. Billeted in the house of an elderly Doctor, who was
grappling unsuccessfully with a history of the island (successively occupied by Venetians, Turks, French and, briefly, the British), the Captain wins the heart of his engaged daughter, Pelagia, as that history takes a new and disastrous turn. The eventual surrender of the Italians leads to the arrival of a German occupying force with very different methods of keeping order. Regarded as traitors to the fascist cause, the platoon is massacred with Captain Corelli surviving only through the noble self-sacrifice of a faithful comrade. Returning to the island after the war to find Pelagia, the Captain sees her holding a child (not in fact hers) and does not reveal his presence. The disappointing Hollywood version, with Nicholas Cage seriously mis-cast in the starring role, of course has a different ending! If you have only seen the film, which was at least made on the island, please read the book! De Bernières describes the minutiae of island life exquisitely and captures the beauty and tranquility of a place I also came to know very well. His one failing was in the naming of island wildlife in which I found three errors. The ‘pine martens’ are beech martens, the ‘Sicilian’ Warblers are Sardinian and the vultures are Griffons, not Egyptian. In his research in the island museum, he clearly did not find the bird list I left there! Alan Vittery ‘American Dirt’ a novel by Jeanine Cummins This is an extraordinary story of a mother and son’s attempt to cross the US-Mexican border after her journalist husband and family are brutally murdered by a Mexican cartel. She unwittingly had befriended the head of the cartel at her little bookshop in Acapulco prior to the horrifying slaughter, and is aware that he has a long reach in order to kill her and her son. The story follows her as she follows the route of many of the migrants fleeing to the north, the United States, and for her son she straps a machete to her leg, jumps on (and off) a moving train and relies on the kindness of others on her journey in an attempt to reach safety. At times, the story had me holding my breath in fear for her, at others turning the pages well into the night to catch the next part of her journey. Gripping story from beginning to end. Marilyn Sheridan
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Investments
PORTUGAL’S GOLDEN VISA
Vitor Reis, experienced investing consultant covers the current situation surrounding Portugal’s Golden Visa program.
E
very year, around this time, Portuguese market agents are expecting the measures that will frame economic activities next year, currently under discussion in the State Budget Draft.
This year the expectation is even higher than the previous ones due to the impact of the COVID19 pandemic on the markets, which await the approval of the measures of the Recovery and Resilience Plan. Additionally, the lack of definition of the Brexit process and the prospect of the end of the VISA GOLD program, not only in Portugal but throughout the EU, entail a greater level of uncertainty for the real estate investor, be it the professional / company or the end user. . Since the Budget discussion is going to enter its decisive week, with a high level of uncertainty, I will focus today on the measure that is already close to its final version. Next month, I will address issues related to real estate taxation.
Kingdom has a prominent figure, representing 33.2% of the non-resident market. The prospect of closing the VISA GOLD program in most municipalities in the Algarve opens up a small window of short-term business opportunity for investors and buyers to take advantage of the remaining months until the expected end of 2020. Thereafter, and with the increasing importance that this program may have for attracting users who were not previously covered by it, such has the UK, the investor should seek other destinations for the development of his projects, thus fulfilling the government’s objective of developing the interior. If you have any questions about this topic please contact vitor_reis@veroverso.com
VISA GOLD The pressure to end the various programs commonly referred to as VISA GOLD in the EU has intensified. In her first State of the Union speech, European Commission President Ursula von der Leyen mentioned “golden passports” as one of a list of threats to the law in Europe. Also under attack in Portugal, VISA GOLDs have already been banned from the metropolitan areas of Lisbon and Porto, as well as from the Litoral districts, in the State Budget of 2020, having meanwhile suspended the law due to the pandemic. However, the application of this measure is already one of the certainties for next year, with the VISA GOLD being awarded only for investments in the so-called “Low Density Territories”. As there is no single legal classification for these territories, the question remains as to which ones in the Algarve will be able to enjoy this status, and in the best of scenarios may be some of the parishes in the interior of the municipalities of Alcoutim, Aljezur, Castro Marim , Monchique and Vila do Bispo, with the addition of parishes in Loulé, Silves and Tavira. As a fundamental component of the Lisbon and Porto real estate markets, VISA GOLD, to date, has not had the same impact on the Algarve. If in the country foreign investment in real estate represented 13.3% of the value of total transactions, in the Algarve this value amounts to 38.7%. Despite this greater dependence on foreign buyers, the Algarve still has little penetration in markets outside the EU in properties worth more than ¤500 m, which do not appear in the top 5 of the countries that invest in the Algarve (70.3%), in contrast from Lisbon and Porto in which in this top 5 there are 4 countries where applications for this visa normally originate. However, the possibility of ending this measure associated with the development of the BREXIT process raises other concerns, since in the top 5 mentioned above, the United
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With 24 years of experience in real estate valuation, along side 23 years of teaching and research in Real Estate Valuation and Real Estate Management, Vítor Reis is: • Member of RICS - member of the Board of Real Estate Valuations of RICS Portugal • REV certified by TEGoVA - examiner for Portugal • Master at Univ. Northumbria (United Kingdom) in the “Property Valuation” area • Degree in Real Estate Management (ESAI) • Partner of KTESIOS APPRAISAL, Consultoria e Avaliação Imobiliária, Lda. • Valuer registered with the CMVM • Official Expert of the Permanent List of the Lisbon Court of Appeal • State Heritage Valuer - DGTF • Valuer of the Arbitration Court of the Property and Real Estate Arbitration Center ESAI • Real Estate Valuer since 1996 • Founding member of the “National Association of Real Estate Valuers” • Director of ESAI - School of Real Estate Activities • Coordinator of the Real Estate Valuation MsC and the Real Estate Appraisal MBA, at ESAI • Director of ESAI’s Pedagogical and Scientific Council • Coordinator of the Real Estate Valuation Course, at BAI Academy, which allows enrolment as an expert Real Estate appraiser at CMC - Angola
November 2020
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Finance
QUESTIONS & ANSWERS Each month, Ricardo Chaves of All Finance Matters gives an insight into the legalities governing tax and general financial matters
Q I am a UK citizen resident in Portugal, I recently decided to sell one of my properties here, what costs can I offset against the capital gain tax? My builder did not issue any invoices at the time of construction in 2001, but I have the copy of the bank transfers. What other costs are deductible: lawyers fees, energy certificate, etc? Even though you have all the proof of transfers, you need invoices and the tax authorities will not allow you to deduct those costs, without them. You also will not be able to deduct the lawyer’s fees on the purchase or on the sale, this is because the tax department does not consider this expense essential, for the conclusion of the transaction. In this case, the solution would be to use the tax value of the property, at the time the works were finished. Once the build was completed, there was a revaluation from the tax office to the property, although this is normally lower than the commercial value, we can use it as the ‘purchase price’ and lower your liability for not having the invoices from the builder. Below you can find other common deductions to the capital gain tax: - Invoices for maintenance or construction works, please note that for these type of expenses it’s advisable that the invoice states the correct address of the property where the works were done. Costs considered are normally the ones of constructing, maintaining or improving your home. - Energy Certificate, please note that if you previously used this cost in another IRS declaration, for instance if you rent the property previously, you cannot use it again. - Real Estate Commission, please make sure that you used a licensed estate agent and that they are mentioned on the deed. - IMT - Property Transfer Tax and Stamp duty paid on purchase - Notary costs on the deed of purchase Please note that furniture is not deductible and there are other common expenses not accepted, as the tax authorities consider that these may be removed from the property prior to the sale: air conditioning and kitchen appliances are good examples. So, if you are selling your property furnished or with these items included in the inventory, you may consider selling these separately.w How does the reinvestment work? Can I reinvest in another country, the UK for instance? If you are resident and the property you are selling is your primary residence, you can reinvest the proceedings of the sale on another purchase within the EU. This needs to be done on a purchase made between 24 months prior and 36 months after the sale. If the reinvestment in the new property is lower than the total sale, than the tax will be calculated pro-rata.
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Please note that if you declare on your tax return that you wish to reinvest the proceeding of the sale and then fail to do so, or reinvest a lower amount, the tax will be reassessed and you will pay interest. Even if they do not plan to sell your home for now, it is important that you keep all supporting charges and make sure this invoices include your name and fiscal number and very important: the correct address of the property. The repayment of mortgage loans, incurred to purchase the property, will also be taken into consideration, when calculating the tax. As the UK may no longer be in the EU in 2021, you need to make sure that the reinvestment happens before Brexit. If possible, you can consider reinvesting now, even if the sale only happens later. I live in Loulé since 2012, but I am moving to the UK towards the end of the year. I have my property in the market, but if the sale does not happen soon, I may leave to the UK in the meantime. Can you let me know what would be the consequences in terms of capital gain tax. What are the differences between Residents vs Non-residents individual ownership? If you sell the property as a non-resident, for tax purposes the tax applicable to your capital gain, will be 28%. If, however you are resident, the tax will be levied only on 50% of the gain and you will be taxed according to the tax bracket applicable to your overall income. This means that you will always pay less if you are resident. However, if you sell while being non-resident in Portugal but resident in the EU (before Brexit), it is possible to opt for the same rules of the residents and be taxed only on 50% of the gain. For this to happen, is necessary that you declare to Portugal your worldwide income, so that the tax authorities can aggregate your income to the capital gain and determine which tax bracket you are in. Please rest assured that you will not be paying tax again on your foreign source income, this is just declared for that purpose. Obviously that in this case, although there is a possibility to be taxed under the same rules as a resident, as this is no longer your primary residence, the gains cannot be rolled over if you reinvest into another property. So in this particular situation, it’s strongly advisable to sell while you are resident and make the reinvestment prior to Brexit. Please consider that the tax saving can be substantial, and it may compensate to sell the property at a lower price. Please feel free to send us the questions you may have to helpdesk@allfinance.pt. We will select some of these to be published.
November 2020
DRONE PHOTOGRAPHY AND 4K VIDEO
HIGH RESOLUTION PHOTOGRAPHY AND 4K VIDEO T: +351 961 700 200 E: RICHIBASS@HOTMAIL.CO.UK
Compass Property Sales Rua de Santo Estevão 25A Tavira, AMI 17591
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www.compasspropertysales.com info@compasspropertysales.com Call us +351 281 323 876
Elevated 3 bed villa near Loule with country and sea views Located in a peaceful rural setting just a few minutes’ drive from the market town of Loule, is this detached and South facing 3-bedroom countryside villa with a spacious sun terrace as the centrepoint to the property and impressive views over the countryside towards the sea. The property, which offers a basement / garage of 43 m2 with natural light and additional rooms, sits on a low maintenance plot of land and is therefore ideal as a lock up and leave villa. The property is full of charm and character and has been priced to sell. Viewings are highly recommended. Please contact Compass Property Sales for the full property brochure and additional photographs.
• Plot 700m2 • Habitable area 135m2 + basement 43m2 • 3 bedrooms • 3 bathrooms • Double glazed windows • Aluminum shutters • Air-conditioning • Fiber optic internet • Storage room/office • Private and spacious terrace •Country and sea views • Close to Loule centre • Borehole and cistern • Mains water t.b.c • Energy Certificate D • Reference V-FRE
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Golf
PRO TIPS
Richard Hudson and Eddie Charnock, Algarve Golf Guru, PGA Professionals discuss keeping the Arms and Body properly ‘connected’ throughout the swing,
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good swing sees your arms and body work together to create a repeating motion. Only when the arms and body are properly ‘connected’ throughout the swing do you benefit from the rhythm to create good ball-striking.
To create a fluent motion, it starts at address. When you address the ball there should be a perfect ‘v’ shape made between your hands and arms. If your hands are behind your sternum, you’ll break the ‘v’ and find it difficult to make a connected swing. The connected swing has all parts working in a correct sequence, the hips (in the backswing is key), the body, shoulders and arms (no chicken wing on the follow through). With these all working together you can create an efficient swing that produces powerful shots with minimum effort. Keep your left arm close to your chest on the backswing with the club head staying outside the line of the hands, with the right arm close to the chest on the follow through. To quote the Gurus, “Practice doesn’t make perfect, it makes permanent. You need to make sure you are doing
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the right things; not just hitting ball after ball on the range. You must practice with a purpose”. To ensure you are connected throughout your golf swing and practicing with purpose, we suggest you visit a PGA Professional. We can also recommend the following teaching aids specifically made to improve your connection while working on the range:- The Tour Striker Smart Ball or the Impact Ball (size medium), both available online Your chance to WIN! Win a 30 minute golf lesson with The Gurus! Just answer the following question correctly and your name will be entered in to a draw to take place on the 1st December. Who won the Portugal Masters 2020? Please email your answer to sales@algarvegolfguru.com To discuss the areas covered above or to book a golf lesson, please contact Richard or Eddie and mention Simply Algarve as a referral. E: sales@algarvegolfguru.com W: algarvegolfguru.com
November 2020
Last word
Parting words... Jake Cleaver admires the liquid magic known as water as we enter the rare months where the Algarve recieves a few very much needed showers... The heavens have opened and the cats and dogs have come pouring out of the ‘Garden of Eden’ (somebody must have left the fence open), and started howling with the wind.
“Is the expression really it’s raining cats and dogs?” asked a Dutch friend of mine recently. “Yep”, I said “and you better be careful not to step in a Poodle”. She giggled. Who would have thought it? Paying attention to the terrible cracker jokes at Christmas would make me seem a little witty. Briefly at least, until I said “what’s worse is when it’s ‘hailing’ taxi cabs”. Gosh, sorry to ‘pull the crackers’ early.. But hey, ‘tis nearly the season.
been inside a dinosaur. And since this is the case, and you are mostly water, it begs the question - what are you really? Maybe we were all just invented by water as a way of moving itself around? It’s like Bruce Lee said, if you put water in a cup it becomes the cup. If you put water in a bottle it becomes the bottle. If you put water in a teapot it becomes the teapot (and tea as well hopefully) and, if you drink the tea - maybe the
I’m sat here looking out the window trying to think about what to write in this month’s column. The heavens have opened and the cats and dogs have come pouring out of the ‘Garden of Eden’ (somebody must have left the fence open), and started howling with the wind, as they, disguised as water droplets, chase each other down my window pane. I’m really curious now, I better Google just where in the world the expression ‘it’s raining cats and dogs’ came from? Well, England obviously, but it turns out it comes from the Greek expression ‘Cata-doxa’, which means ‘contrary to experience or belief’. So, instead of saying ‘it’s raining Cata-doxa’, when it was raining unbelievably hard. English people soon turned this into the far more hard to believe statement that ‘it’s raining cats and dogs’. This doesn’t surprise me. English people have always liked putting their own little twist on foreign words. This is why a certain well known local supermarket is often affectionately known as the place to get your ‘Apples and onions’. It’s so nice to see the rain though. We need it. It can’t be sunny all the time, and it’s exciting to watch the ground to see if you can catch any little patches of green springing up as nature begins to grow its bushy green winter beard once again. I’m always amazed at how quickly the green bristles start to appear, and it’s because - water truly is life. I read that the water in you was a thunderstorm a week ago, and that it will soon be in the ocean again. Apparently there’s been the same amount of water in the world since the earth was formed, and it’s been continuously syphoning through rocks, air, animals and plants ever since. Here’s a thought - at some point the water inside you would have
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November 2020
water becomes you, and maybe, just maybe, it used to be Bruce Lee as well. Think about that the next time you have the inexplicable urge to do a karate chop or a high kick the waters still got some fight left in it. I’m guilty of deifying elemental entities in my column. I did it with the sun and the moon a few months ago, and I’m afraid I’m finding myself doing it again now with water. But it’s hard not to conclude that something that flows so freely between everything and everyone, that all life depends on, and that in a sense connects us all, isn’t somehow the definition of an all knowing and all encompassing God. And if it’s not the divine spark of life, at the very least it’s the lubricant. It keeps everything, everywhere flowing to where it needs to be. From the nutrients and oxygen to your cells and tissues, from the rivers to the sea, and from the sky to the earth. Truly the height of responsibility, and yet, water seems to do it all effortlessly. It never tries too hard. Water always follows the path of least resistance. It’s the original Yogi teaching us all how to ‘go with the flow’.
solid enough to sink the Titanic, but also when confronted about it (and things get heated) it can simply float away in a puff of smoke (or steam). The peculiarity of ice to keep to the surface was admittedly unfortunate for the Titanic, however, water generally speaking breaks the rules of chemistry for our convenience. Lakes freeze on the top, which allows all the creatures below to carry on as usual, and grants us a taste of divinity as we walk (or slip) on the water above. So, as I sit here watching the water droplets run down my window I feel quite at peace that I can’t play in the sun today. For one thing it allows me to get some writing done, but I also feel grateful that water is bringing life back to the Algarve, giving everybody a much needed drink, and encouraging hidden little seeds to be brave enough to push through to the surface and paint the world green again. I also feel a kind of unity with it, and I’m pleased to think that maybe my ramblings are, in a sense, water contemplating itself. I don’t mean to be too deep, but I think it finds itself particularly hard to fathom.
Another Godly trait that water has is that it’s formless - or more accurately it can transform itself to any form it likes. When it freezes and becomes solid it has the curious little quirk of becoming less dense and so can float on, well.. itself. This celestial ability to shape shift means it can be
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