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August 2022

Condominium Debts

Condominium Debts – Who is Responsible?

When purchasing an apartment in a Condominium, or a block, it is important to ascertain whether there are any pre-existing debts to the Condominium Management Company or its suppliers, registered against the apartment. In most cases, you can request a certificate declaration of no debt to the condominium. But be careful! Buyers have been issued a false statement and are eventually chased for the debt...

Madeira's Property Bubble

Madeira’s Property Bubble

Portugal, and as of more interest to us, Madeira, are seeing record growth in the housing market. The easing of post-Covid travel restrictions, growth and popularity of remote working opportunities and Brexit, all play a factor in the rise of Madeira’s popularity among ex-pats and tourists. Home purchase and rental prices are rising, along with fuel duty, groceries, and general cost of living. In this...