Amendment to the PDM allows private hospital in Nazare

In order to allow the installation of a health unit of private capital in a land of 30 hectares located in the Royal Path, in Pederneira, the City Council of Nazare has initiated a process to amend the Municipal Director Plan (PDM).

This amendment, advanced by the local authority announced and approved at meeting of a municipal executive in the past day August 11, focuses on the land chosen for the location of the new hospital of the future, addressed in the PDM by two different classifications, one part in the area of tourist development of the town, and the other in forested areas. The use of the land should now be done, with equipment assigned to the occupation of collective nature of regional relevance, in an amendment to PDM which will articulate itself with the plans, projects and programmes under way for that zone, from which stand out the first review PDM and the Urban Plan of Pederneira.

The municipality justifies this amendment to the "strategic importance of the investment" that represents the installation of a hospital in Nazare, vanguard - with cutting-edge technology and part of research - and its proximity to the future variant of the National Road 242 and the IC9. Another argument raised is that, in addition to not allow the construction unit of health, the PDM currently in force no longer corresponds "to the current strategy of tourism development of Nazare, which now passes through areas such as S. Giao, Caixins and North Beach, "where the detailed plans are already underway.

To discuss the changes in the PDM the municipality will allow a period of 15 days of participation, with suggestions for the formulation and submission of relevant information. It follows a period of 180 days to make the necessary and final changes.

It is recalled that the hospital to be constructed is a result of a protocol between the City of Nazare and the Chamber of Commerce Israel-Portuguese and represents an investment which amounts to 100 million. The area of deployment of the building, which should take a bold appearance, will occupy about 10 square meters.

Silver Coast, New Shopping Centre inspired by local culture

The future shopping center that Sonae Sierra intends to build between the hypermarket Modelo and the Health Centre of Caldas da Rainha is inspired by the legacy of Rafael Bordalo Pinheiro, a famous figure of the town.

The request for prior information given by the company in the local City Council has presented the study pictures of a North-American company based in Texas - the fd2s - with clear references to Ze Povinho and other creations by Rafael Bordalo Pinheiro.

The Rainha Shopping provides throughout its surrounding images of the universe of the ceramist, according to a protocol that Sonae Sierra signed with the Faiancas Rafael Bordalo Pinheiro. "We want the local habitants to review the local heritage in our building, and recognize what is their tradition and their culture," explained in prior note.

According to the initial designs submitted by the Texan company, Ze Povinho, tiles and ceramics from Faiancas will decorate the future shopping centre.

The fd2s has worked with Sonae in preparing the project for a shopping in Campinas, Brazil. The park D. Pedro is "the first shopping centre of thematic and specialized "of the country, according to its presentation on the Internet "The pioneer model of the Park D. Pedro is allied to the welfare and entertainment of the local community and special concern with the environment, "added.

As to the draft architecture, it is now the responsibility of Quintela Jose da Fonseca, after the Department of Planning and Urbanism (DPU) of City Council, raising some doubts about the integration planning and excessive volume the first draft presented.

The new project is more appealing to the Mayor, according to Gazeta,. But still there is no official position on the prior information.

Sonae Sierra refers, in the document presented, that they want to "develop a building 'icon', a landmark for the city, with a design of rounded forms, vertical development in terraces, with the clear objective of reducing the visual volume." Flower pots were made with natural landscaping, "thus removing the impact that the three floors could create regarding the street and passers-by."

The air link between the new building and Modelo Hypermarket, considered crucial in terms of trade and use, "is also an event in terms of Urban Design and Design." According to the images available, the impact of such air link in the new proposal is smaller than the previous one, because it is done in an area below.

The planned investment in the project is estimated of 50 million. The prior information submitted will now be examined by the DPU and the city council executive.

Obidos, Researchers prepare solutions for sustainability

The council of Obidos gave the following task to the StaR course, which occurred in Obidos from 7 to April 11: to develop practical solutions in order to transform the beautiful medieval town in an Eco-Town for a sustainable future.

The program STaR City brought together young researchers with multidisciplinary skills and aims to find solutions to current environmental issues and thus contribute to sustainable urban development in Europe.

Obidos has a great opportunity to become the first Portuguese village to reach the point of zero-emissions through the optimization of existing infrastructure, introduction of renewable energy, sustainable solutions to transport and waste management.

This course has a special focus on intelligent infrastructure systems, sustainable transport, sustainable tourism, evaluation of impacts, challenges to local authorities and others to be addressed by young researchers. The Municipality of Obidos and STaR encourages groups to submit ideas and new solutions for the future development of this town, to be replicated in other communities in Europe. Municipal authorities emerged with a vision that points to the creation of a new standard for urban spaces in Portugal and the results that flow from this event can be replicated in many other Portuguese communities.

The challenges and impacts of tourism are recognized in all municipalities and have been taking this into account which reached a basis for cooperation. The concept of Eco-Town, once implemented, should, first, protect the local environment of the negative impacts of tourism and, second, become a reference and have a role in attraction as a catalyst for the planning and improving quality of life. Funded by the Marie Curie programme, the STaR City is a unique project composed of a series of events covering the four key sectors in sustainable urban development: energy, transportation, waste management and urban planning.

The participants, students in doctoral and post-doctoral, with different skills from different disciplines and countries, provided the basis for innovative solutions and discussed real problems within the theme of sustainable solutions. They were also present, in large, internationally renowned experts, together with representatives from universities-edge, businesses, municipal and national authorities as well as the European Union.

Silver Coast and Obidos, always looking for improvement!

Top 15 Reasons to invest in Silver Coast Property

The information below, reasons to invest in Silver Coast property, is focused on the economic considerations, future investments and infrastructure in the Silver Coast region of Portugal.

1. A Pricewaterhouse Coopers and a Place in the Sun report put the Silver Coast Portugal within the top three countries most likely to make you the most money in the next 10 years.
   
2. A report by the Strategic National Tourism Plan states that the tourism receipts will increase to 12 thousand million (12 billion) by 2015 and the report also concludes the Silver Coast will be one of the main growth areas.
   
3. Portugal and especially the Silver Coast have strict planning regulations that will ensure the low density of new developments and keep the supply and demand levels balanced.


4. Portugal is rapidly becoming centre stage for eco-investments within the Euro zone. And the Silver Coast is no exception with signs of renewable energy dotting the countryside.
   Investments into solar panel farms, wind turbines, wave turbines and eco-villages are attracting blue chip corporations and high net worth investors into the area.
   
5. According to Barclays bank the number of Irish and British citizens who plan to buy abroad will double in the next 5 years.
   
6. Until 2013 the EU plan to fund €8.8 million per day to improve the Portuguese economy and infrastructure.
   
7. Portugal can be seen as a low risk, established and safe investment environment.
   
8. Portugal has a long established tourism market and you will find close to 100% occupancy in the summer months in the most popular tourist spots, including Nazare, Sao Martinho do Porto, Foz do Arelho and Obidos.
   
9. Portugal, the UK and Ireland all adhere to the EU double taxation treaties allowing non-residential Portuguese property owners to avoid double taxation including capital gains tax and rental income tax.
   
10. The Portuguese banks encourage non-residents to take out a Portuguese mortgage and the process is relatively easy to obtain an 80% LTV interest only mortgage.
    
11. Terminal 2 at Lisbon airport was opened for business this year 2008 to increase the volume of low cost airline traffic to the capital.
    
12. A new TGV high speed rail link Lisbon to Madrid is planned for 2010 with completion by 2015. The TGV will reduce the journey from Lisbon to Madrid to 3 hours from currently 10 hours.
    
13. Two new modern state of the art shopping centres are to be built in Caldas da Rainha. One to be finished in spring 2008 and the other in spring 2009. One of these projects will be built be the Sonae Group. www.sonae.pt. They will consist of shops, supermarkets, cinemas and restaurants.
    
14. A Jurassic Theme Park is to be built in the town Lourinha with the construction to start in 2010 with the intention to attract more than 250,000 visitors a year.
    


15. Finally and most importantly 4 new 18 hole championship golf courses are currently under construction in the council's of Obidos and Caldas da Rainha. They are Royal Obidos, Falaesia del Rei, Rainha Golf and Bom Successo. All of these golf courses will include luxury villas and apartments plus 5 start hotels thus making the Silver coast area of Portugal a dominant force in the world of golf tourism.
    

MOVEPORTUGAL - INVESTMENTS
Tailor-made Solutions
Contact: steve[at]moveportugal.com

Why use a currency broker???

Many people do not plan or even realise the effect of currency fluctuations and take a significant risk with their finances when they buy property or invest abroad.
Currency fluctuations can affect a house purchase, savings or pension/mortgage payments, and every year many people lose money through lack of knowledge or good advice.

When transferring funds abroad people should consider the exchange rate, the costs involved in transferring large amounts of money and the personal service that foreign exchange companies are able to give.

There are a number of currency exchange services that these companies can offer to help clients moving money abroad. Along with competitive exchange rates, you have the option to:

1. Purchase a forward contract. We can fix the exchange rate for your purchase up to one year in advance
2. Make a same-day, urgent payment
3. Use our market watch service. We monitor the currency market for you and let you know when it reaches a pre-agreed rate
4. Set up regular transfers to cover, for example, mortgage payments or living expenses

The first mistake most people make is assuming their bank is the best option for transferring large sums of money. However, most banks charge hefty transfer fees and offer poor exchange rates. Savings can be between 0.5% and 3% of the amount being transferred.

This can mean that on a one-off transfer of €150,000, a bank may cost up to £2,000 more than a currency broker.

For further information here are a couple currency brokers that MovePortugal recommend.

http://www.worldfirst.com/
Tel: 0800 0305015
Contact: Elisabeth Dobson

http://www.sgm-fx.com/
Tel: +44 (0) 207 220 1740
Contact: Daniel Collier

A new airport is announced by Portugal’s Prime Minister

Jose Socrates, the Portuguese Prime Minister has made it official, and even though there has been some indecision and public discussion around where should it be built, there is no doubt that a new airport is on the way. The total cost of the new airport is estimated around 4.9 billion Euros, and the definitive location will be the Alcochete area (just under 12 miles from Lisbon), just south of the Tagus River.

This is excellent news for anyone who has his eyes set on investing near this area, especially the Silver Coast, or even the Blue Coast. The boost that this news will give to the value of properties in striking distance is huge. The gain in accessibility is bound to reward all the foreign property investors that seize this opportunity for new investments/ additions to their property portfolio.

Taking in order that the Algarve is now so priced out and with all the building restrictions down there, one can only expect that many investors should get hold of the best properties in the Silver Coast and even the Blue Coast of Portugal while they can.

Anyone receptive to a good opportunity in this business should contact Move Portugal, as it is pretty much the complete package. Any information just ask us.

Carnival in The Silver Coast

As if the Silver Coast wasn´t interesting as it is, anyone visiting Portugal this time of year can't help but notice that this is the place to be!

Between Nazaré, Caldas da Rainha, Óbidos, Peniche and Torres Vedras, take your pick, as there is no shortage of festivities, and overall healthy fun. Mask contests everywhere and the espectacular Carnival Parades or Street Dances and Evening Balls.

Obviously, the Carnival is another important manifestation of the portuguese culture and yet again, another exemple of the economic and tourisitic potential of this part of Portugal.

Everyear, more and more people discover the Silver Coast (aka West Coast), and naturally, just can't find it in them to leave. Land property investments just can't go wrong here, because either it's for your own use or not, it's always a win-win situation here in sunny Portugal.

How To Invest in Portugal - Things to know

Silver Coast Investments
Plot and Construction or Self Build projects

This is an excellent way to buy a dream holiday home or an overseas investment property in the Silver Coast region of Portugal. This option of buying a piece of land and then designing and constructing a property will take more time and effort but not necessarily more money!

Things to know about buying a piece of land or a plot in Portugal

Urban Land - This is land that is qualified as either

1. A built up area
2. Land capable of development
3. Land required to maintain an ecological balance with in an urban area

Agricultural or Rural Land – This is land that cannot be built on unless the piece of land in question is with in the PDM urbanisation plan. Rural land is divided into categories

1. Forestry
2. Natural spaces
3. Cultural spaces
   

The PDM (Plano Director Municipal) - this is based on local development strategy as well as regional and national policy. It is a master plan for the district, and establishes the basic classification and qualification of land, construction densities in accordance with local infrastructures, present and future.

Land or Plot with Viability – This is urban land that has been given the permission to construct a property or properties with a designated amount of area for construction. This means that a project still has to be submitted to the local council by a licensed Portuguese architect and approved before any construction work can begin. The length of time for a project to be approved once it has been submitted by an architect is a minimum of 3 months.

Land or Plot with Project Approved – This is urban land with a project that has been submitted to the local council and has been approved. The approved project has to be built to the exact specification of the architectural plans. If changes are made to the plan then this will have to be re-approved by the local council.

Construction Licence – This licence is issued once a project has been approved.

Habitation Licence – This licence is issued when the construction is complete and the property has passed all the necessary inspections.

Financing Land – In Portugal the banks will only finance a plot or a piece of land once a project has been approved. In general the Portuguese banks will offer 80% of the total valuation of the plot and the cost of construction. This figure is then split normally to cover a 100% of the construction and up to 50% of the plot. For further information on financing please contact steve[at]portugalpropertyloans.com .

Some of the plots that are currently for sale with MovePortugal
LISTINGS:.

• Property for Sale in Portugal : Silver Coast Foz do Arelho 64


• Property for sale in Portugal : Land Silver Coast Serra do Bouro Sao Martinho do Porto


• Property for Sale in Portugal : Silver Coast Serra do Bouro Sao Martinho do Porto Plot


• Property for Sale in Portugal : Silver Coast Lourinha Porto Dinheiro 137


• Property for Sale in Portugal : Silver Coast Obidos plot of land 140


• Property for Sale in Portugal : Plot for multiple construction Torres Vedras Silver Coast 537


• Property for Sale in Portugal : Plot project approved near Torres Vedras Silver Coast 539


• Property for Sale in Portugal : Silver Coast Caldas da Rainha 150


• Property for Sale in Portugal : Silver Coast Nadadouro Foz do Arelho for construction 166


• Property for Sale in Portugal : Silver Coast Serra do Bouro Plot 168


• Property for Sale in Portugal : Silver Coast Serra do Bouro Land 179


• Property for Sale in Portugal : Silver Coast Caldas da Rainha Plot 253


• Property for Sale in Portugal : Silver Coast Caldas da Rainha Land 254


• Property for Sale in Portugal : Plot of land for construction near S Martinho do Porto Silver Coast 566


• Property for Sale in Portugal : Silver Coast Serra do Bouro 280


• Property for Sale in Portugal : Silver Coast Obidos Plot


• Property for Sale in Portugal : Silver Coast Obidos Land


• Property for Sale in Portugal : Silver Coast project approved Foz do Arelho


• Property for Sale in Portugal : Plot in Atalaia Lourinha Silver Coast


• Property for Sale in Portugal : Plot in Praia da Areia Branca Lourinha Silver Coast


• Property for Sale in Portugal : Plot for construction in Foz do Arelho Silver Coast

Portugal - Buying Guide Tax & Finance

It is important for those of you who will be purchasing a property in Portugal in the near furture to understand the buying process and the buying costs of the unique Portuguese system.

I would like to introduce myself as the resident FA (financial adviser). I have been living in Portugal fo the last 6 years and have been running a independant financial consultancy business in Portugal for the last 3 years supporting non-resident individuals and companies in rasing finance, providing fiscal representation and developing tax efficency structures.

The great team at MovePortugal have kindly let me put a simple but informative buying guide together for their prospective clients and allowing me to respond to your questions relating to tax & finance in Portugal.

STEP BY STEP

1. Use a Portuguese licensed real estate like MovePortugal.com
   
2. Obtain a fiscal number using a professional fiscal representation company.
   
3. Find a regulated qualified lawyer


4. Make a reservation offer to take the property off the market. This is normally non-refundable and made on the basis that a 'Promissory Contract' will be drawn up in the next 30 days.


5. The lawyer will then collect all the house documents to check everything is in order and if you are applying for a Portuguese mortgage it is advisable that you get an offer from the bank before the Promissory Contract is made.
   
6. Promissory Contract: this is drawn up by your lawyer and signed by the seller and the buyer. The conditions are negotiable, if you are taking finance I reccommend that the contract is made for 90 days until the deed of purchase.


7. Provisional Registration: this is only made when a mortgage is being used for financing the purchase. This means that the bank will make their first legal charge on the property at the local notary.


8. Property Transfer Tax (IMT): this tax is paid normally by the lawyer on your behalf a few days before the final deed.


9. Final Deed: this is made at the local notary and the seller and buyer (or the lawyer with a power of attorney) are present along with a bank representative (only when there is a mortgage).
   

PROPERTY TAXES

Property Transfer Tax (IMT)

>85,500 1%............0

85,500 – 117,200 2%............855

117,200 – 159,800 5%............4,371

159,800 – 266,400 7%............7,567

266,400 – 511,000 8%............10,231

511,000 + 6%............0

Example: Property price is €200,000 therfore....

200,000 x
7% = 14,000

14,000 - 7,567 = €6433

Stamp Duty
Property stamp duty = 0.8% x purchase price

Mortgage stamp duty = 0.6% x loan amount



LEGAL FEES
Provisional Registration (notary & registration of banks first legal charge, mortgage only)€650 (approx.)



Final Deed Registration (notary & registration of final deed) - €750 (approx.)



Lawyers Fees
1% - 1.5%


BANKING FEES (applicable for mortgages only)........


Valuation & arrangement fee
€500 (approx.)


Bank legal fee
€250 (approx.)

IN CONCLUSION

Property value from
€100,000 - €150,000
5% Buying costs (including
mortgage)



Property values from €150,000 - €200,000
5.5% - 6%
buying
costs (incl. mortgage)

Property Values from €200,000 -
€250,000
6.5%
- 7% buying costs (incl. mortgage)

Property values
from
€250,000 -
€350,000
7.5% - 8% buying costs (incl. mortgage
costs)

Property
values from €350,000 - €500,000
8% - 10% buying
costs
(incl. mortgage)

Coming soon a Glossary of important house documents that you should know the name of.

_________________

Steve Clarke

Mortgage Adviser (CeMAP)