Nestled in the heart of Portugal's Algarve region, Aljezur is a quaint town steeped in history, with roots predating the Romans. The town is adorned with iconic landmarks such as the Moorish castle dating back to the tenth century, underlining its historically rich past. Aljezur is conveniently located in the western part of the Algarve and is well-known for its unique geographical blend of lush greenery, rolling hills, and pristine seaside. Endowed with an unspoilt coastline, Aljezur offers a tranquil retreat for those seeking an exclusive lifestyle.
Aljezur's Exclusive Property Market
The current exclusive property market in Aljezur is remarkably stable, thanks to its unique blend of natural beauty, history, and tranquility, which continually attracts discerning buyers. The demand compared to the supply of luxury homes and apartments in Aljezur is closely matched, with a steady flow of high-end properties entering the market. Aljezur's political and economic situation is equally stable, creating a conducive environment for both investors and residents. The average real estate commission on both sides of the transaction in Aljezur sits reasonably at around 3-5%.
Investment Considerations
Potential buyers should also account for additional costs such as transfer tax, notary fees, legal costs, and possible construction inspection expenses. The transfer tax on private property varies but is typically around 6-8%. A modest annual property tax also applies, and buyers should prepare for potential wealth tax implications. It's important to note that tax on profit made when selling a privately owned home or apartment in Aljezur depends on its use – main residence or vacation home. While registered companies in Aljezur will pay corporate tax on profits, the income tax for registered residents will apply at a variable rate.
Mortgage and Financing
Buyers considering financing their Aljezur property through a mortgage should expect to provide a proportion of the cost as a down payment, with the remaining balance financed by the mortgage. The maximum mortgage one can typically secure on a property in Aljezur is generally around 70-80% of the purchase price.
Location and Accessibility
Located in the province of Faro, Aljezur is home to just over 5,000 residents. The affluent neighborhoods of Vale da Telha and Monte Clerigo, noted for their luxury properties, offer incredible coastal views and elegance. Aljezur is a 15-minute drive from the A22 motorway, providing easy access to Faro’s international airport and the vibrant city of Lagos. Public buses and taxis also serve the town.
Educational and Health Facilities
The town is served by a number of quality schools and universities, such as the local Aljezur International School and the renowned University of the Algarve located in Faro. The local community is served by Aljezur Health Centre and private clinics in nearby Lagos.
Local Amenities and Luxury Lifestyle
This area is blessed with an abundance of nature, including the nearby Costa Vicentina National Park for hiking, pristine surf beaches, and world-class golf courses. Aljezur also offers a plethora of high-end boutiques, renowned restaurants, and an exclusive night scene. Local annual events such as the Sweet Potato Festival and the Aljezur Carnival draw crowds and add unique charm. Characterized by its rich culture, Aljezur is home to the Aljezur Art Gallery, Municipal Museum, and other cultural spaces.
Conclusion
In conclusion, Aljezur is a prime locale for luxury real estate, offering a stable property market, a rich cultural history, and an abundance of leisure and lifestyle amenities for the discerning homeowner. The town's exceptional location, stability, and superior lifestyle make it a compelling choice for luxury property investment.
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