There is also stamp duty of 0.8 per cent of the purchase price and then a relatively massive property purchase tax – called Imposto Municipal sobre Transmissôes Onerosas de Imóveis – that is up to 6.5 per cent.

Buyers own the properties outright as they only available to buy as freeholds. It is not a timeshare, although there is the option to incorporate the buy-to-let investment by buying the property through a company that a buyer sets up and owns.

4. What’s so special about the properties?
Homeowners can enjoy all of the amenities at the W Hotel, including various music, fashion and design events, a 10,000 sq ft spa and fitness centre, outdoor pools and the several restaurants and bars. There will also be dedicated residents’ only areas that include a swimming pool.

The W brand is synonymous with fashionable luxury, with hotels across the world – and the new W residences for sale on Portugal’s south coast aim to replicate the cutting-edge essence of the W Hotel brand.

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China’s state-owned international investment company CNIC holds a five percent stake in EDP, which it has acquired in the market since 2015. It last raised its holding by two percent at the end of last year. The two state-owned companies’ stakes are counted towards one holding by the Chinese state.

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EDP – China Three Gorges bought a 21 percent stake in late 2011. It paid 2.7 billion euros for the stake, a premium of 53 percent at the time. CTG beat Germany’s E.ON and Brazil’s Eletrobras in the privatisation dictated by the terms of the country’s bailout.

Millennium bcp – China’s Fosun International bought a 16.7 percent stake in Portugal’s largest listed bank in 2016. It has subsequently raised its holding to 27 percent, which is worth around 1.2 billion euros at current market prices.

LISBON, May 14 (Reuters) – Chinese companies have become major investors in Portugal, first drawn by cheap assets at the time of the country’s 2011-14 bailout by the European Union and IMF, and now involving a $10.8 billion offer for all of power utility EDP.

Many wealthy Chinese have also moved to Portugal, taking advantage of the country’s “golden visa” scheme that allows foreign individuals to buy property valued at 500,000 euros ($600,000) or more in return for residency.

CTG has built up its stake to 23 percent since then. It also bought a 49 percent stake in EDP’s unit EDP Renewables for 359 million euros in late 2012 and invested 2 billion euros buying minority stakes in wind energy projects.

Alison Buechner Hojbjerg, a directors at QP Savills, said: ‘These new properties are currently being built, and occupy an exclusive area on the beach front, where the coastline is incredibly beautiful with sandy beaches and pretty coves.’

11. What items are included in the sale of the property?
The residences are sold fully furnished with designer kitchens with Smeg appliances, and Villeroy & Boch bathrooms. The interior designers are AB Concept Should you loved this article and you want to receive much more information concerning mercan Grooup i implore you to visit our own web page. .