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Approximately 9 million Europeans are taking advantage of their European Union Citizenship's free movement rights by living outside of their home country. There are about 450 000 international successions each year in the EU; this represents more
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Portugal’s 8 th of April 2009 edition of “Diario Economico” reports that 10% of the total homes in Portugal are presently on the market for sale. New construction has decreased but the number of used or resale homes on the market have
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The recent bank interest rate drop announced by major banking institutions in Madeira Island, Portugal will have no or very little effect on the local economy. The Central European bank has virtually commanded local banks to reduce their interest rates
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Property values in Madeira Island have fallen by 20 to 30% according to a recent article published this week in one of the local reputable newspapers. Banks have become more conservative in their evaluations of property and clients’ credit loan
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The IMT Tax on property which forms part of the transfer title costs when purchasing property has been revised for 2009; this year there are two tables – one for permanent residents (people who reside for 6 months and more during the year) and another
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BUYING PROPERTY IN MADEIRA INTO CONDOMINIUM / FRACTIONAL OWNERSHIP ? In a recent survey conducted by DECO PROTESTE (The Portuguese Association for consumer protection) 2 out of 3 consumers reported condominium management problems. In mainland Portugal
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The Funchal municipal town council intends to include a series of expropriation measures in its next budget with a view to provide opportunities to investors in the private sector in the restoration of certain buildings in the city’s historic district
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Both residents and visitors to Madeira Island are to benefit with Easyjet’s very first low cost direct flight from Madeira to Lisbon in the mainland continent yesterday. The budget airline commenced low cost flights from Madeira Island to London
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LOW COST AIRLINES ARE SUCCESSFULLY OPERATING TO MADEIRA WHICH HAS SPARKED A NEED FOR BUDGET HOTELS. Portugal ’s representative administrator for EASYHOTELS, João Freitas of “Best Ecran, S.A.”, has publicly confirmed the group’s
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Ribeira Brava’s Municipal Town Council 's president confirmed this week that the area’s municipal tax rates will remain the same for the 2009 year. Presently the IMI tax on older urban real estate (i.e. houses construction and land) is
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In an effort to compel and provoke landlords and owners to revamp/restore their decaying and uninhabited homes in the city of Câmara de Lobos, the municipal town council has recently proposed increasing the present municipal property taxes (IMI)
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