The recent economic data released by the government of Portugal i.e. deficit down to 2.6% for 2007 and a forecast of 2.2% for this year also a planned cut in iva (Portuguese vat) of 1% is encouraging, indeed perhaps coupled with more optimistic news from Mr King at the Bank of England who is now not expecting a large scale recession we can now detect a ray of sunshine in an otherwise gloomy economic outlook.

There is in fact a quiet but building optimism surrounding the future of this small sunny enclave that is Portugal with massive investment in infrastructure including a new international airport just to the south of Lisbon a huge road building project all over the country and a high speed rail network that will connect Lisbon with the rest of Europe and indeed the rest of the world like never before Portugal is clearly going places.

All of this is attracting serious investors into the market and ambitious projects of golf courses pleasure parks and riverside developments abound. All along the major dammed rivers of Central Portugal local councils are vying for investors interest and are pulling out all the stops to make there area the place that tourists want to go.

There are also still many bargains to be found especially in the central region with old houses waiting to be revitalised and a slow domestic market keeping prices low. This withstanding there has been a steady climb in house prices over the last 3 years of between 10% and 12% and this is certainly set to continue.

If you are tempted by the Portuguese property market then please take note of the following text which is an extract from our website http://www.perfectportugalproperty.co.uk

With the resurgence in demand within central Portugal for properties from buyers all over Europe, there has been an increase in unlicensed estate agents jumping on the bandwagon. This license is granted by the State governing body, INCI, and requires a qualification on the part of the Estate Agent before they are issued with their AMI No. It serves as a guarantee that individual Estate Agents must use certain forms of approved documentation to implement their functions in the profession.

The Licensed Estate Agent is also bonded by INCI in the form of an Insurance Cover that enables claims to be made against them in the case of any proven dispute. Once you have made a decision to purchase a property in Central Portugal, it is advisable to find a lawyer (Advogado) or solicitor (solicitadora) who you wish to deal with your purchase, of which there are many who speak English.

It is also essential that a fiscal number (numero de identificação fiscal/NIF) is obtained, this Cartão de Contribuinte is available from the local tax office (finanças). It is also necessary to have your Fiscal number to open a bank account in Portugal, for which you will also copies of your birth certificate and passport. Having decided on your purchase and put the above into place, it is then that all the official paperwork starts.

This is however something not to be daunted by and all of us here at Properties in Perfect Portugal will endeavour to make this process as straight-forward as possible. The following pages give you an outline of the due process necessary to complete all paperwork required under Portuguese law.