STILL WORTH INVESTING IN REAL ESTATE IN PORTUGAL?

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About:
Still worth investing in real estate in Portugal? Some people say that the property in Portugal is overvalued. But despite this, is it still one of the cheapest country in Europe to buy a property.
How much money did we made renting our apartment in Algarve Portugal? Did we get rich? Did we loose money? Did we work with a firm or did we put our apartment on Airbnb? How is working with the cleaning? We answer all these questions and more.
Also you get to see the exact numbers, how much did we invoiced the clients, how much are the expenses and how much profit did we make.
Is it worth investing in real-estate in Portugal, meaning it's a good idea for you? As all things in life you should see if this is the kind of investment that is right for you in this moment in time.
This video can help you figure out if it's a good idea for you to buy a property in Portugal and rent it and if you assess for yourself if you can live off that money. Is this going to help you achieve financial independence?
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About this channel:
We are Luiza & Flavius, currently living in Portugal, Algarve. I believe that time is our most precious resource and we hope to inspire other people to use it wisely.
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Опубликовано:

7 сен 2024

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Комментарии : 83

@AlgarveLifestyle 2 года назад

Hey all! Thanks so much for all your input and comments, I will make very soon a Q&A and reaction to your comments regarding this subject so please, keep leaving questions and impressions!😍🇵🇹

@Radio478 2 года назад

Thank you 😊 just amazing

@suzh5789 2 года назад

Great video. I think that for having a home that you enjoy and use that you have selected a very good strategy. If you were to rent an apartment for the full year, you would not have access to enjoy your home and the rental return might only be a fraction more than your current profit. I think that you have created the best of both worlds with your property as it suits your flexibility. Also, the air conditioner, if you were living there, it would have been your expense. Now it becomes an cost of operation or property improvement.

@tommytee8387 2 года назад

The best money is made by the maintenance company ..their fees are truly eye watering especially on the numbers they control..then of course there are taxes..thank you for your honesty and clarity and full breakdown of all costs.

@Bluemart856 2 года назад

I am of the same opinion, I mean 150 euros to change a light bulb and put some dw40 on a sliding door? Mmmh suspicious to say the least, but I tend to be suspicious...so it could just be that these maintenance costs are for real especially considering a lot of careless people coming into your home and moving stuff about. I mean even my parents every time they come and visit me they tend to break something in my house!

@AlgarveLifestyle 2 года назад

Great point! I responded yo your question in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@jocasalvaterrajc Год назад

Amazing video Portugal is a great place to invest.

@AlgarveLifestyle Год назад

Thank you!

@violetgypsie 2 года назад

I think the fees are a little high, but I also think they are worth it. Having one management company (who is local) take care of all these things makes more sense, rather than trying to hire out a cleaning company, a maintenance company, a laundry service etc. Plus the stress of managing all these thing from out of the country. Just the stress of finding a new air conditioner and getting it installed on time would have been a huge headache. For costs, the air conditioner would have gone out eventually anyway, and they fixed a problem with a leak and the door. If you have a good management company, I definitely think it’s worth it. Thank you for showing us your cost breakdowns.

@AlgarveLifestyle 2 года назад

Hi, I responded yo your comment in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@violetgypsie 2 года назад

@@AlgarveLifestyle Cool! I just watched it. Cheers!

@janmaaso 2 года назад

Thanks for sharing. You do ask for our comments, so these are our thoughts: Congratulations with a successful season all things considered. Just being able to find clients with the covid-situation is not a given, so we are glad it worked out. As far as the specifics: you did not over-pay for the A/C! That was a fair price. Your electricity bill was lower than I had expected, but the cleaning bill was higher. All in all I think you did fine and I am glad to hear you allready have repeat customers, at least for one visit. Wish you the best for 2022! Take care. Yin and Jan Maaso.

@AlgarveLifestyle 2 года назад

Hi and hope you are OK and enjoying this start of 2022! Thank you for your thoughts, after the had time to digest the information, we also thing that we did good considering all the variables in 2021. I spoke to someone else for the cleaning and I plan to test it while I stay here in Portugal but it's not substantially cheaper. It can add up but it's not like it's half price. I want to see if the quality of the cleaning is better.

@janmaaso 2 года назад

@@AlgarveLifestyle Thanks, and we also hope you are having a good start to the year. It seems that The Virus is changing, and really: all we hear lately is promising news. Let us hope things get back to normal in the end. You might not remember, but I once commented that we are renovating our old house and that we have been using people from Romania and Moldova. Good people! If you need work done, as do we, maybe we should get in touch and exchange experiences and advice? Might be good for us both? Get in touch next time you are heading down this way. Ciao from Faro. Yin and Jan Maaso.

@AlgarveLifestyle 2 года назад

@@janmaaso we hope 2022 will be the end of this situation! We decided to wait 2-3 years with the renovation and seems you will renovate sooner! But yes, I would like to exchange opinions about renovating. Maybe do a video about your experience renovating! 👍😊

@Bluemart856 2 года назад

Thanks a lot for this honest information many people makes it look all good without breaking down the costs. So this is very informative, a lot of food for thoughts. My final take is that probably if you have a mortgage on a rental property with all these costs you may just about break even, considering there is annual property tax to pay every year, maybe condominium too and rental license and of course tax on your rental income. But in your case because you live there, it makes sense to rent it out in summer

@AlgarveLifestyle 2 года назад

Hi, I responded yo your question in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@angeliquemechel 2 года назад

The charges from this management company and the laundry is insane! I’m betting that there is another company with similar services that wouldn’t charge so much! Also, I am positive that you can get the cleaning supplies and toiletries in bulk much cheaper from Amazon. If we do this in the future, I know what to look out for. Thank you for this information!

@AlgarveLifestyle 2 года назад

Hi, I responded to your comment in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@PauloPinto 2 года назад

Great video, very informative. However, some other comments have touched on other expenses which will reduce your ROI. Firstly, I believe you will have to pay 28% on any value invoiced. You will also be subject to property tax, which is dependent on the fiscal value of the property. And then there’s the mortgage payment.

@AlgarveLifestyle 2 года назад

Yes, I said I forgot to add internet and didn’t add the property tax. Also the income tax is 28% but not from what you invoice, you deduct a fixed amount (quite large) first. Also I said why mortgage is seen by us as profit and not expense. 😀

@martymendes1 2 года назад

Thank you for all these details and for being so open with this information. You answered many questions I had regarding renting out in Portugal. I too would take this spreadsheet to other management companies and ask if they can do better. Did you notice any damage from guests or do you feel they were careful with your place? Thanks again and keep up the good work.

@AlgarveLifestyle 2 года назад

Glad it was helpful! I responded yo your question in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@marinastanley1977 2 года назад

I ever thought of an online digital decentralized growth stock market, I'm giving advice on the best platform to invest where investors/entrepreneurs trade in gold, crypto currency/Bitcoin?.. In 7 days trading making huge profit... With a 12% value accuracy, but a 9% daily value return, values are made daily with a different percentage, do you know how it works? ..

@JasonJFlippingLife 2 года назад

Thanks for sharing this type of information. There is not much information about short term rentals in Portugal.

@AlgarveLifestyle 2 года назад

Glad it was helpful! Thank you! 😀

@nosoygringo5980 2 года назад

thanks so much for the detailed sharing, we have been thinking about how to do our move and streamof cash to support our off grid life in portugal and flipping a small village house is one way toget some income. now its different to rent in algarve with the high flow of turists than in the interior. i was shocked by the low profit, buti definitely understand the gain in peace of mind when you have a management company, specially if you go away in summer. i would definitely take the laundry expense ...its cheaper to buy 12 sets of bed sheets and towels to cover the 12 weeks of summer, and i will washthem at home when i return frommy own holidays. i am going to portugal in october, i would love to meet you to share some of your experiences on investing. i will be in touch.

@AlgarveLifestyle 2 года назад

Thank you for the message and great ideas! I never thought about it but I will talk to them about it, if it would be cheaper to just change it and then wash them all at once. I could not wash myself because they have to be washed professionally (disinfected) and also ironed - to be like a hotel experience. But maybe if we change it and wash them all at the and it could save some money. A lot of people are coming in Portugal in October for scouting! I think is a great time of the year to do that. Unfortunately we will be back in Algarve in January but we would love to meet you down the line, if you are coming back to Portugal in 2023.

@kanekamilo6131 2 года назад

thank you very much for this useful information, I would like to give the details of the management company so that I can also rent out my house

@AlgarveLifestyle 2 года назад

Hi, thanks! This agency works only in these 2 resorts.

@Radio478 2 года назад

Please, keep me positive, love you all

@AlgarveLifestyle 2 года назад

Greetings also from Portugal! I hope you will always stay positive!

@cookmaster3626 2 года назад

Thank you for the detailed insight into the Financials. I have been thinking of buying a condo or a small T1 unit and renting it during my absence and have second thoughts after seeing this video. I can't tell if your ROI is justifiable since I don't know the cost of your investment and all the other Fixed cost such as Mortgage, Prop taxes, condo fee, Insurance cost etc. I will still comment on the financials you presented based on my opinion. 1. The Agency you hired is a daylight Robber. The kind of commission including the VAT @ 28% is RIDICULOUS. 2. The Laundry, Cleaning etc are most likely done by their own Crew since they are rental Agency and for them to be charging at retail rates (By retail I mean you call some one and they charge for a single call) is INSANE. If they have an outside company ding it they should present you the invoice from them. If you ask they will say sorry cant provide. 3. These expenses for door fixing etc. should not be that high and considering you paid to fix a repeat of the same is not justified. You are an absentee owner they take advantage. Final Answer: You need to negotiate the Agency fee from 28% to more like 18%, and cut the cleaning costs by 50%. If they wouldn't do it find another company and if all of them are the same money sucking Leeches this rental business is NOT worth the investment. After deducting for the summer's pro-rated outside fixed costs like Mortgage etc i mentioned I wonder if you can Break even.

@AlgarveLifestyle 2 года назад

Yes, your point of view is correct and stands if this would be just a rental property. But we also live here so for us, for now is OK. Just as a business we will break even but we couldn't live from this in Portugal.

@piotrskutnik8472 2 года назад

liked and Subscribed 1 min into a video :)

@AlgarveLifestyle 2 года назад

Thank you for subscribing! 😍 And from the first minute!

@danielfernandes532 2 года назад

Wow. Thanks for covering such an important topic and being so open about the figures. Just wanted to know, does your apartment have access to a common swimming pool.

@AlgarveLifestyle 2 года назад

Hi Daniel, I responded to your question in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@FactsUnlished 2 года назад

What was the buying price of your apartment that you bought and how much down payment you paid, how much you paid as your monthly mortgage ?

@AlgarveLifestyle 2 года назад

Hi, I have full dedicated videos about moetgage, how much did we pay and all the details! 😁

@AlexandruLuchian 2 года назад

Mulțumesc for the video, it is very insightful and informative. Do you mind talking a bit about taxes? Out of the profit you made, I imagine you have to pay some income tax in Portugal. I know the VAT is exempt if you bill under 12K euros a year I believe. Do you also have to declare this income in your home country, Romania?

@AlgarveLifestyle 2 года назад

I don’t have to pay tax in Romania for this kind of income. I don’t have yet the info about what income tax I will pay here in Portugal. I will do a separate video when I will know.

@sgoverno1352 2 года назад

Thanks for the very interesting and informative video. How did you feel about sharing your own place and your furniture etc with guests? Did you have to spend a lot of time packing up personal items before you left the apartment for the summer?

@Bluemart856 2 года назад

Great question. My friend had an apartment in the Algarve which he was renting out and when we went there he picked a lot of his belongings from the garage. Having a garage is a great benefit in this case

@AlgarveLifestyle 2 года назад

Hi, thank you for the questions, I answered in this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@thomasredmond6668 2 года назад

Good vlog very informative I think you did very well €2500 for just a few months rental, if you were to do lease back in France you would be lucky to clear €3000 for the whole year, then your expenses from that accounting fee €325, home insurance €280, TVA €300 banking fees €120 Tax Fonciers €300 routine maintenance € 1200 Total profit for one whole year €475 that's roughly €9 per week, good choice rental in Portugal

@AlgarveLifestyle 2 года назад

Hi, I responded yo your question in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html And thank you for subscribing!

@Radio478 2 года назад

Thanks 😊, you keep me going.

@AlgarveLifestyle 2 года назад

Great to hear this! Just keep going! 😊

@Radio478 2 года назад

@@AlgarveLifestyle oh thank you 😊

@Radio478 2 года назад

You are such a kind person thank you 😊

@cookmaster3626 2 года назад

After watching this video, my recommendation is as below. You have an excellent knowledge and business acumen on the properties in your area, the rental potentials, communication and presentation skills. Perhaps you should start your own rental Agency company managing a dozen properties and hire a full time cleaning crew on a contract basis and a very reliable handy man (a DIY type person) as your business partner and you will have a good part time Work from Home business. May be i will join youj as an investment partner.

@AlgarveLifestyle 2 года назад

Thank you so much for such proposal! I will definitely like to start a business in this area in Portugal if I would have the capital or the right partner!

@benjaminperoumalradja5491 Год назад

Please show full year rental income and how much pay for mortgage and also how much you bought this apartment

@AlgarveLifestyle Год назад

We have changed the administration company and all the numbers have changed. We will ask if we can make a video about it at the end if this year.

@CCX5668 2 года назад

Interesting financial statement, great job. It’s not too much but assuming you are not there, you don’t take care of that property rental and management, I will say it’s ok. Are you taking into account any depreciation rates? Not sure how much the property cost was including renovations. Good job so far.

@AlgarveLifestyle 2 года назад

No, the depreciation rates are not in taken into consideration. The apartment will be fully renovated after we will stop renting.

@AIASHS 2 года назад

Very informative video but one question. What is the rough price you paid for the unit or what would it cost if bought today? This is how I can determine if the monthly/yearly return on a rental is worth the money put in. Thank you!

@AlgarveLifestyle 2 года назад

The prices in the area you can see in my videos about Vale do Lobo. The prices remained kind of the same in this areas, they didn't increase from what I saw.

@marinastanley1977 2 года назад

@tamaramadelin4831 2 года назад

What about your mortgage? You have to deduct that as an expense, right? Yes, it's nice to make money while away, but it's really not that much, and I imagine you have wear and tear not included as well! If you do this regularly and as tourism gets better you may do well! Glad you got to spend time in Romania and get out during the hot season!!

@AlgarveLifestyle 2 года назад

Hi, I responded yo your comment in this video, thank you! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html

@tamaramadelin4831 2 года назад

@@AlgarveLifestyle Hi! I saw so thanks for that! It was a very informative and interesting video!! Thumbs up!!!

@coratheexplorer1824 2 года назад

Hmmm the more i waych your videos the more i learned how expensive to live and do business in portugal lots of taxes to pay and other expenses it is easy to do business here in uk. I have 9 bedrms guesthaus if i dont make morethan 80k i dont havecto pay tax, plus no business tax to pay.you only earn a little after all that expenses.it isxeasy to buy old property here and renovate and sell.good business in property developing make money faster than pension.

@AlgarveLifestyle 2 года назад

No, don't get discouraged! Yes, UK has one of the most simple and hassle free interactions between authorities and regular people and yes, Portugal is hard and a lot of papers are needed. They make good money in Portugal from constructions too, the whole country is a big construction site and you find good bargains if you know how to search. The point was not to get discouraged by the videos, at least get a sample of the real life in Portugal before deciding. 😊

@gabriellazordan 2 года назад

Hello dear Luiza , Thank you For This great useful video very explanatory . I would be interested to invest in RE there .You are very capable and intelligent lady and I am very proud of you . I love all your videos . Please let me know if you can help me with the RE agency . Have a great day . Much love 💗

@olgasilva9563 2 года назад

Thanks for this vlog. After all your experience in the Algarve, do you feel you made the best decision to buy in Vale do Lobo condominium or could you have made a better, more profitable option? Thank you.

@AlgarveLifestyle 2 года назад

Hi Olga, since I already filmed the Q&A, I will respond to you here. Yes, I think in terms of profit I could have made a better choice. Buy an apartment or a semi detached house in a resort more near Lagos and maybe save up to 10.000-20.000 euro on puchase price and have acces to more inexpensive services as well as day to day more inexpensive restaurants. But I feel that buying in Vale do Lobo is still the best decision for us because what we actually bought is the lifestyle and this is what we wanted above everything else I mentioned. 😃

@olgasilva9563 2 года назад

@@AlgarveLifestyle ❤️

@olgasilva9563 2 года назад

Thank you for the clear answer. Wish you all the best!

@thisisparalysis1 Год назад

@@AlgarveLifestyle why Lagos? How about portimao?

@Carolinapetroska 2 года назад

Wouldn't it be better to just rent it to one long term tenant without going through all of these fees ?

@AlgarveLifestyle 2 года назад

Yes, this is a very good and valid strategy if you invest your rest of the money in something else. We considered this strategy also but based on our risk profile, we decided to invest also in this property rather than rent long term and invest the rest. 👍 If I was 20 years old I would do it like you said.

@lydiaguimaraes7009 2 года назад

Great prices compare to Miami🙏

@AlgarveLifestyle 2 года назад

Yes I agree! 👍

@intertwinedmpz8679 2 года назад

Is it possible for me to assign your booking firm to business or get there information?

@AlgarveLifestyle 2 года назад

Hi, I am sorry but I didn’t understaind how can I help you. Please if you can detail a little. If you asking if you can get an invoice for this purchase I am sure you can but you have to write to Kathleen at Bordr. 👍

@mrbbkk 2 года назад

Ridiculous terrible return They won't get my money

@shahnawazahmed1432 2 года назад

I want to come to Portugal ... do you send me the invitation to visit your beautiful country and stay at your apartment and paid the reasonable rent to you...

@AlgarveLifestyle 2 года назад

Thank you for the question, I answered you here ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lO0cJO7090Q.html