The guide to spectacular property in and around ... - Quinta Properties

QUINTA DO LAGO PORTUGAL
Estrada Pinheiros Altos, Quinta do Lago, 8135 Almancil, Portugal
Tel: +351 289 396 073 / 398 939 Fax: +351 289 398 086 Email: info@quintaproperty.com
www.quintaproperty.com
Independent property consultants specialising in the Quinta do Lago area
License No.AMI - 1252
passion for property 06/07
3rd EDITION
passion
for property06/07
The guide to spectacular property in and around Quinta do Lago, and the life that goes with it
QUINTA DO LAGO PORTUGAL
in association with
3rd EDITION

Quinta allure
The best investment on earth is earth
Louis S Glickman

welcome
We are delighted to present our third Property Guide to you. We're
sure it will prove as informative and useful for everyone interested in
real estate in and around Quinta do Lago as the previous two.
The new guide also has a new name ‘Passion for Property’ which
better reflects how we feel about our work.
Its aim is to share key, up-to-date information on buying, managing,
enjoying and indeed selling property in the area, as well as explaining
some of the important financial issues involved in buying and selling
properties in Portugal. This information is provided in our new pink
paged financial section. As well as looking in depth at the sort of
properties available here, we have also provided a glimpse of just some
of the aspects that go towards the superb quality of life, beauty and
tranquillity enjoyed here.
A lot has certainly happened since the last edition, and Quinta do Lago
continues to be a really thriving community. In this edition we have
portrayed some of the characters who add to the spice and quality of
life so enjoyed in the area. We'd like to thank them for their
co-operation, and all those who have been involved and who have
contributed to making this edition our best yet.
These continue to be exciting times to be involved in real estate in
Quinta do Lago and, as ever, we are finding many home owners are
upgrading and increasing their investments here – matching their desire
to spend more time in the resort.
As the area's leading agents, we aspire to meet your needs through
sharing our knowledge and experience with you, providing you with
the best possible advice, guidance and service.
We look forward to seeing you!
Sister Company
8. Passionate people
A Beautiful Place
14. Images of Quinta do Lago
The Elemental Artisan
18. Creator of art, Beau
Intelligent House
28. Welcome to the thinking home
The Perfectionist
32. Car valet extraordinaire, Paulo
Spa Tranquillity
38. A little indulgence
Money Talking
43. Financial pages
Discover
12. Introduction to Quinta do Lago
Jimmy Tarbuck
16. My idea of paradise
contents
Financing The Dream
45. Banco Santander Totta
Property Taxation
48. euroFINESCO
Running Costs
52. From infrastructure to garden maintenance
Property Pages
56. A taste of Quinta Properties’ spectacular portfolio
The Conjuror
24. Food maestro, Gisela
Centre Stage
31. The saxophonist, Martyn
Lisbon
34. The beating heart of Portuguese culture
Famous For Golf
40. On course at Pinheiros Altos
Buying Procedures
44. Private or corporate ownership
Company Ownership
46. Quinta Properties
Portuguese Tax Benefits
51. How tax rates compare to Spain
Using Your Equity
54. Jyske Bank
A Maturing Market
69. Savills
Alison Højbjerg and Kerstin Ferreira Dias, Directors, Quinta Properties
Time Out Map of Quinta do Lago
4 71. Essential guide to Quinta do Lago
72. Getting around Quinta do Lago Quinta Properties 5

QUINTA DO LAGO • QUINTA SHOPPING, LOJA 33
BULGARI.COM
DIAGONO ALUMINIUM

8
Sister
Company
If Quinta Properties’ new director looks vaguely familiar, it’s not
surprising. Alison Højbjerg, who has been with the company since
1998 has now been joined by her sister Kerstin.
But there’s no trace of sibling rivalry between these two. “I can’t
believe it has taken this long for us to work together,” says Alison.
“Kerstin’s arrival from a local competitor brings some important
but different strengths to the company. Her knowledge of the
local market is a given. But she’s also such a warm, enthusiastic
person that clients can’t fail to respond to her approach and
incredible drive.” And Kerstin is equally generous in her praise
of Alison as a colleague. “She has made a huge success of the
company to date, and she’s got there with her professional
business approach and endless hard work.”
The sisters are confident that the combination of their talents will
help take the business forward over the coming years and ensure
that all their clients receive the very best service at all times.
passion for property
Kerstin Ferreira Dias Alison Højbjerg

10
“ Nothing is
really work
unless you
would rather
be doing
something
else
J M Barrie
”
The Quinta Properties team on the bridge to Gigi’s Beach, Quinta do Lago
“We find ourselves feeding off each other’s enthusiasm,” says
Kerstin, “and there is such a strong team of people here in our
offices to work with. There is a real buzz, and it is in fact a joy to
come to work. All of us at Quinta Properties live and breathe the
Algarve and all it has to offer.”
“We find ourselves feeding off
each other’s enthusiasm,” says Kerstin
“It’s not just a sister thing,” agrees Alison. “It’s definitely a team
effort. People walk in and want a friendly but knowledgeable and
dedicated service. Between us, we deliver that. That’s why so many
clients like to work with us, and that is also why we continue to be
Savills’ chosen associate in Quinta do Lago.”
From left to right: Lina Rodrigues Office Manager, Hannelore Singh
Administration, Alison Højbjerg Director, Sandra Fairbairn Sales
Manager, James Carter Sales Executive, Kerstin Ferreira Dias Director,
Sigrun Vas dos Santos Sales Executive, Mandi Clarke Sales Executive
in association with
relax
passion for property
www.quintaproperty.com

Quinta do Lago
Arriving at Quinta do Lago is simple. It is just 15 minutes from Faro International Airport. The hard part is leaving.
The exclusive resort is set in a jewel of a landscape: 800 acres of pine forest bordering the Ria Formosa Natural Park – a
Conservation Area of World Importance – and a stunning stretch of the Atlantic Ocean. All this and 300 days of sunshine
each year, with temperate summers and mild winters.
The original concept of entrepreneur Andre Jordan, when he was shown the site in 1970, was to retain its spectacular
pine forests and lakes while developing properties of the highest quality in a low density setting. Nothing has changed,
protected by strict planning and environmental policies to preserve the exclusive ambience. The resort’s international
awards include recognition for its preservation of the environment as well as excellence in tourism and golf.
Arrive at Quinta do Lago for the first time and you will be taken aback by just how verdant and unspoilt the area is.
The skyline is still dominated by the powerful lines of the beautiful umbrella pine trees; the crystal lakes scintillate in the
sunshine, and the wildlife is as abundant today as it ever was.
Stroll along one of the nature trails through the Ria Formosa Natural Park and you’ll glimpse rare birds stopping over on
their long migrations between Africa and Europe.
Interwoven into this astonishing environment, often shaded from view by the pine trees, are individually designed
properties, many bordering the resort’s four 18 hole Championship Golf Courses. Plots average 2,000 sq metres: ample
space for the typically four and five-bedroomed villas, each complete with pool and landscaped gardens.
In addition to these privately owned freehold villas there are quality condominium developments such as Victory Village,
Lakeside Village, São Lourenço, Vale dos Pinheiros, Monte da Quinta Club and the Vilar do Golf Resort Club – each with
its own character and offering an array of townhouses and well appointed apartments, as well as affording a variety of
pursuits such as tennis and swimming. While the properties are individually owned, the facilities and landscaped gardens
are commonly owned and managed. The two Four Seasons developments offer ownership based on timeshare and have
proved enormously successful.
But Quinta do Lago is not simply about living in a superb environment: it is about immersing yourself in the luxury of
space and privacy that the resort offers. The sports facilities are simply first class – four top quality golf courses, and water
based sports including windsurfing and sailing, as well as more leisurely pursuits such as a luxury spa. Tennis players will
always find a game at the Jim Stewart Tennis Centre. Horse riding is also popular here. The experienced staff at the riding
centre on Avenida Ayrton Senna are delighted to cater for all standards – from novice to advanced.
At the two shopping centres – Bouganvilia Plaza and Quinta Shopping – you’ll find everything you need, from banking and
supermarket shopping to designer boutiques, cafés and elegant restaurants.
The appeal of Quinta do Lago comfortably crosses the generational divide. Discreet but effective security means that
children can play safely and be entertained here while their parents and grandparents relax. The beach itself is a sheer
delight – 3 1 / 2 km of beautiful golden sands backed by undulating dunes.
Indeed, why would anyone want to leave?
Discover
The vision of Quinta do Lago that was
born 35 years ago has never wavered.
Here was a truly beautiful natural
environment; that unique quality would
always be jealously guarded whilst
developing Europe’s finest residential
and leisure resort
12 Quinta Properties 13

14
“If we resist our passions,
it is more because of their
weakness than because
of their strength”
François Duc de La Rochefoucauld
Quinta Properties
15

16
my idea
of paradise
When Jimmy Tarbuck is not busy entertaining
audiences in the UK, there’s just one place he
wants to be: Quinta do Lago.
It’s a dark, dismal December day in England when we talk, and veteran entertainer Jimmy Tarbuck
is already planning his next stay in Quinta do Lago. “It’s absolutely delightful there in the winter,” he
says, “mind you, it’s very nice in the summer too. But with my work I only really get the chance to
be there for a few months each winter, usually January and February. On winter nights you can sit
in front of a log fire and, in the day, out on the golf course, it can be warm enough to go round
in shorts.”
Being Jimmy Tarbuck, it’s never long before the conversation gets round to his favourite pastime.
Jimmy has played with many of the world’s greatest players along the way, as well as a huge number
of celebrity golfers – the experiences form the staple of a lot of his stand-up material and his book
‘Tarbuck on Golf’. But he’s no mean player himself, playing off a very respectable 10 handicap; and
the course he most loves? “It’s got to be San Larenzo. It’s fabulous.”
And if not golf, then it’s football that animates Jimmy. Famous for his support for Liverpool, he was in
Portugal to relish the 2005 European Cup Final. “What a second half. That was the biggest
comeback since Sinatra,” he quips.
“There’s some good football there,” he says. “Although Faro are not a leading club at present,
Estádio do Algarve (the new 30,000-seat stadium between Faro and Loulé) is a great place to watch
a match. I got to see England play Portugal there in September when Figo won his 100 th cap.”
“It’s absolutely delightful there in the winter
...mind you, it’s very nice in the summer too.”
Jimmy has made his winter home here for 15 years now and relishes every day. He has always been
busy professionally since he first broke onto the scene some 40 years ago, but the last couple of
years have seen his workload increase even further: “I seem to have had a real renaissance,” he says,
“and that can make it difficult to get away.”
Between his TV, corporate and theatre commitments (he is just coming to the end of a punishing
44-night tour with his show ‘This is My Life’) Jimmy also manages to fit in a very busy schedule of
charity events. Famous for his work with the Variety Club, he also dedicates a lot of time to his role
as President of Diabetes UK. But even when he’s lapping up the winter sun in Quinta do Lago, he’s
still often working for a good cause.
“I’m a supporter of the local children’s home, Refúgio Aboim Ascensão, run by a man who
deserves a knighthood – no, a sainthood – Dr Vilas Boas. It’s one of the finest homes in the world
for children at risk. The children there are just beautiful kids.” The 67 full-time and 45 volunteer staff
there give the children a family and a future, and Jimmy regularly helps to raise much needed funds.
“It’s easy to see why so many people want to come to the Algarve,” he says. “It’s not just beautiful
and easy to get to, the people are so warm too. All I can say is that if you are interested in buying a
property there, the team at Quinta Properties are the people to speak to – they are terrific.”
Quinta Properties 17

the elemental
artisan
Beau McClellan is one of the Algarve’s more colourful characters. Scottish
born, Beau arrived in the Algarve in 1991 after following a successful career
in the music business. Beau then came to southern Portugal and bought a
small house in a quiet country sanctuary in the Algarve hills. He was asked
to get involved with a TV series about Portugal, and ended up being the
subject of one of the shows. Back into the swing of media related projects
Beau became involved with photography for some major companies at a
time when the superb natural light of Portugal was very much in vogue.
This led to set building for films and TV commercials shot in Portugal and
finally Beau became an art Director in his own right.
During this time, Beau gradually returned to his roots as a qualified artist
blacksmith, and teamed with fellow blacksmith Adam Varley; together they
founded Ferro Design near Loulé.
Manual design
creates sensuality
After 10 years of making one-off pieces of furniture for
private clients – the word was out. The items produced
were of such exceptional quality and innovation that soon
Ferro Design was being asked to design and build all
manner of furniture, fittings, decorations and extravagant
sculptures for private home owners to large development
companies. The hand crafted work has a sensual quality
and ranges from a spectacular cliff-top Jacuzzi, hauled into
position using a helicopter, to wonderfully creative gates,
intricate staircases, chandeliers and interior and exterior
sculptures including large gas burning lamps.
The talents of Ferro Design was recognised by Loulé
Municipal Council who commissioned them to create the
Zephyrus sculpture located on the roundabout at the
entrance to Loulé.
Beau was not content to inaugurate the sculpture with a
simple cut of the red ribbon and the presence of a few
dignitaries. In collaboration with a carefully selected group
of artists, he produced a thrilling piece of evening open-air
theatre, unveiling the sculpture amid stilt-walkers, acrobats
and performance artists, providing a wonderful and
unforgettable free show for the people of Loulé. Other
shows followed like ‘Festa das Arabias’ at Pinheiros Altos.
This show devised by Beau’s long time friend and
collaborator, actor and director Judite da Silva Gameiro,
was called ‘Fulgor’ and featured a huge mechanical fire
breathing dragon with a 14m wingspan and some of the
best performance artists in the world, flown in to entertain
an invited audience of over 1,600 people.
18 Photo: Vasco Celio Quinta Properties 19

Since then Ferro Design has continued
to build new, exciting and exceptional
pieces, for clients in Portugal and
increasingly abroad. In addition, Beau
himself has recently begun to concentrate
more and more on design. “In design it is
always crucial to know what is happening
with new technology and materials – so
that you know what is possible – or what
might be possible.”
The art of light
Beau has just designed his own new
‘Beau McClellan’ range of lighting for
German lighting giant Brumberg, which
will be launched in April of 2006 at the
Light and Building Fair in Frankfurt. “I met
Johannes Brumberg Jun.. at the Milan
Design Fair about four years ago and we
became good friends and I have built a
very healthy working relationship with
Johannes and his father. It’s a huge
opportunity for a designer to be asked to
design for one of the world leaders, and I
am doubly lucky, because the Brumberg
team and I all seem to be on the
same wave-length.”
Beau McClellan
Ferro Design
Tel: 00351 919 808995
www.ferrodesign.net
In design
everything has its
own language
“I have always had a problem explaining to people
exactly what it is that I do. At the end of the day
what I really feel I am is a creator of things, whether
its sculpture, design, art, music or whatever – I think
all these things come from the same part of the
brain. Some people think that you can’t be good at
so many things, that you should just concentrate on
one. But I find that each creative project informs the
next – everything is interlinked and I think it gives my
work, I hope, a certain freshness and originality.
Nothing is given the chance to stagnate. Some
people may not like what I do, but that’s OK. I create
– then it’s a matter of taste whether people like it or
not. But as a designer, as opposed to a pure artist, so
to speak, I do try to have a good idea of what’s
already out there, and be aware of the limits that are
set by the people who are commissioning me. That’s
very much the approach I take with the Brumberg
work – it’s striking that balance between producing
something original and beautiful and useful, but at the
same time not being so far out there that people are
just not going to understand the forms I use. In
essence, I suppose, functionality needs design and
design needs to be functional. With Brumberg, they
supply me with the technology and I supply them
with aesthetic solutions for the practical use and, of
course, marketing of that technology”.
Functionality needs design
and design needs
to be functional
“I fell into lighting design by being commissioned to
design lighting for large Quinta do Lago houses – there
was just nothing out there big enough to create impact!
I saw the potential but I needed to know more – so I
went to Milan and studied lighting design and the art of
light (and shadow). It can transform the way you live by
the mood, atmosphere and ambience it creates.
Coloured light can also look fantastic if used well – but
used badly it can look catastrophic!”
So what’s next? “I’m designing more and more of my
own lighting range for Brumberg, and you can soon
expect to see some pretty interesting stuff. And I am still
designing one off pieces with Ferro Design. It’s a
tremendous sense of relief and achievement when we
finish a one-off piece and complete the installation but
now I can add my knowledge and understanding of light;
it adds another dimension to whatever I do”
But it’s not just about me, it’s the whole of the Ferro
Design team – I am a lucky man to have such talented
and supportive people around me.”
Quinta Properties
20 Photo: Vasco Celio
21

liberate your senses
SCENT TOUCH SPARKLE AMBIENCE
exquisite style for European living
Drawing on inspiration from their shopping experiences in Brussels
and Paris, Judy and Simon Clayton have created sophisticated home
and fashion accessory shops in the heart of Quinta do Lago.
Chic and elegant, Dunas has a beautifully scented ambience that makes shopping a pleasure.
Crisp white linens and pale oak furniture are dressed with tableware and flowers in the colours of
summer. The cool, calm atmosphere is laden with the fragrance of seasonal fruit, flowers and herbs.
Fine quality natural products form the basis of the varied collections, linen, leather, cashmere,
pewter, wood, olive oil, genuine panama hats from Ecuador, ladies linen pareos, cotton and silk
beachwear. Algarvian cork and a range of Porches pottery exclusive to Dunas add character to this
eclectic mix, sourced from all over Europe and beyond. The atmosphere is one of al fresco dining,
Parisian chic and Algarvian warmth.
Two doors along, Quintessence features fabulous jewellery in silver, semi-precious stones and pearls
from designers selected in Denmark, France, South Africa and the UK. Affordable yet luxurious.
A tempting collection of naturally perfumed body products fills this petite shop with fresh
Provençal scents – lemons and tangerines, musk rose and summer flowers.
Dunas and Quintessence, 3 & 5 Quinta Shopping, Quinta do Lago, Algarve 00351 289 392602
www.dunas-style.com
BLANC D’IVOIRE FLAMANT DIPTYQUE ESTEBAN PLACE DES LICES CARROL BOYES LIBECO MILLEFIORE AZUNI PILGRIM KIRSTEN GOSS

Conjuror
24
Gisela
is rapidly becoming
the perfect
accompaniment
to any great
gastronomic
occasion
Behold the conjuror!
Quinta Properties 25

taste
passion for property
www.quintaproperty.com
RECIPE FOR SUCCESS
If your ideal evening as a host or hostess is to spend
your time with your guests, not fretting over the
next course, then it’s time to meet Gisela.
And if that dream dinner or party includes coming down next
morning to find the dishes and the house magically clean, then she
is definitely the right person to contact! Her staff decorate the
tables and house, waiters provide skilled table service and the
food is world class.
Think of eating at some of the best restaurants. Now think of
enjoying that superb food and calibre of service in your own home
– and that’s pretty much what Gisela offers.
Gisela will already be well-known to many readers of this Property
Guide, for she and her young team are regularly invited into homes
throughout Quinta do Lago and surrounding areas to cater for
dinner and lunch parties. That can cover anything from a special
dinner for two up to parties or receptions for 200 or more – it’s all
in a day’s work. A number of golf clubs and other establishments
also call on her to cater for their special events.
Nothing fazes Gisela, no project is too complex, and she can
handle as much or as little of an event as you wish. The cuisine – in
a wide range of styles – is invariably superb, and she’s also there to
afford expert advice on menus and the best wines to go with them.
Her work is also her passion, and she runs what can best be
described a ‘tight ship’ – every aspect of her service is strictly
managed, but you still find the staff working with a smile on
their faces.
Gisela, 00351 919 905366
00351 399 434220
gisela.ad@gmx.de
Maestro please
“... I’ve been asked what the trick is – there’s
no trick. It’s about an excellent performance
from the very start, to the very finish ....”
“I now get flown to manage dinners for my clients in their other homes around Europe,”
says Gisela. “I certainly never imagined my business would ever take me in this direction, but
it really adds spice to my work – and my team seem very happy to have joined the jet set!”
Quinta Properties 27

It’s no dream. Intelligent buildings have come a long way in the last few
decades. Time was when an infra-red control over blinds and electric devices
seemed state-of-the-art. That is now almost Dark Ages technology. Today sensors
can be built into the fabric of a building to sense light, sound or even motion, and
operate switches. Move from one room to the next and lights will come on ahead
of you. Go to bed and all the electrical devices on stand-by will automatically turn
off to save electricity. Depending upon the temperature in your living room, the
blinds can come down to keep out the sun, or respond to the first rays of light in
the morning by opening. The choices are all yours. And if you’re not actually in the
home, then you can have total control over your home through the internet.
From your laptop or even PDA, you can tap into the central control system for
your home and check that the burglar alarm has not been triggered by your
neighbour’s pet. As you wait in the departure lounge, you can tell the heating to
come on in good time for you to have a hot bath ready for your arrival; drive up
to the gate of your villa or apartment complex and simply swiping your ID card
will wake your home up and
Welcome
to the
thinking
home
bring on the lights and heating.
If a water leak is detected, the
supply automatically cuts off to
prevent damage. Your fridge
can detect when vital supplies
are running low and place an
order for you. Enhanced
security is, quite rightly, integral
to most ‘intelligent buildings’
today. They can react to the
detection of an intruder by
locking internal doors as well
as sending images of what is going on to you, a neighbour or a security company.
Which of us hasn’t nervously gone to check why a neighbour’s alarm is going off?
Now a quick scan on our own computer or TV screen will tell us. All this
technology is readily available now. The next stages could be even more exciting.
There’s lighting – but not as we know it. LEDs and fibre optic lights will replace
conventional lamps – changing colour with the mood of the moment and cutting
power bills by up to 80%. Fit next generation photovoltaic cells and there may be
no electricity bill to pay – or they may even produce a profit! But anyone who
watched ‘Minority Report’ may have already had a glimpse of the not too distant
future. Who needs swipe cards or keys to make sure that your home recognizes
you and lets you in? They can be duplicated or stolen. The day will soon be here
when ‘biometrics’ – your fingerprint or iris – will perform that role far more
securely. Rich folk’s toys? Not so. All of these devices increase our convenience,
security and comfort – and can radically reduce running costs. Long-term they will
be seen as essential – and add value to a property.
Donald Balfour, C&B
Tel: 00351 289 591671
www.cb-algarve.com
Now that IS intelligent building!
A house that
recognizes
you as you
walk in or
communicates with you
while you are in
another country and cuts
energy bills by up to 70%…
...this isn’t science fiction
it’s science fact.
28 Quinta Properties 29

centre
step forward the musician
stage
The soundtrack to some of the very best parties and events on the
Algarve is the work of multi-talented musician Martyn Teutscher.
For a man used to blowing up a storm on stage, Martyn Teutscher is
surprisingly quiet out of the spotlight. Serious and softly spoken he may be, but
there’s no doubting Martyn’s charisma on stage. Music has been his life for
almost all of his 40 years. A keen flautist from the age of 8, his epiphany came
when he picked up his very first saxophone when he was 15.
Born in Harlem, Holland, he soon realised that his greatest musical bond was
with the music associated with the Harlem 4,000 miles away: Jazz. His biggest
influences? “Greats like John Coltrane and Miles Davis,” he says, “but I really do
like the work of Grover Washington and David Sanborn.”
Martyn studied Music and Movement at the Conservatorium in Rotterdam,
paying the bills by teaching music and chefing – he even qualified as a chef,
recognising that it’s not every aspiring musician who gets to live the dream.
But performing was always going to be his long-term goal and, when he met up
with a touring African band, he leapt at the chance to join them. He went on
the road, touring all over Europe and honing his stage skills along the way.
And that’s how he ended up in Portugal just over 10 years ago.
“The band moved on, but I decided to stay,” he recalls. Europe’s loss was the
Algarve’s gain and today he bases himself in Loulé, putting together bands of
anything up to seven to perform at homes and hotels up and down the coast –
for private parties and wedding receptions to corporate events.
That, of course, demands a highly eclectic approach and, while his roots may
be in Jazz, he’s equally at home playing Pop and Dixie, as well as the swaying
rhythms of Brazilian music so popular in Portugal. Whatever musical
entertainment you’re after, Martyn is your man – and he can book acts and
supply lighting as well as all the sound equipment.
And when he’s not on stage, you’ll find him in the studio. Watch out for a
project that Martyn hopes to bring to fruition shortly. “I’ve been composing my
own music for some time,” he says, “and this is the year that I’m determined to
produce my own CD.”
Martyn Teutscher, Loulé 00351 918 106687
Quinta Properties 31

32
the
Pride
and the passion
THE PERFECTIONIST
Ever wondered what makes the cars sparkle so brightly in Quinta
do Lago? It’s rarely due to hours spent by their proud owners,
who usually have far more enjoyable things to do with their time.
The answer is Paulo.
Paulo is the man behind Platinum Valet. His business is working
magic on your car while you enjoy life to the full.
However, it is almost difficult not to envy Paulo; after all, not only
does he get to work on the most beautiful automobiles ever
created, but he keeps some very good company too. His little
black book of clients includes some of the world’s top VIPs. Of
course, being the true professional that he is, Paulo would never
divulge any details.
What he can never stop talking about though, is his passion for
the cars and his job. “I absolutely love it!” says Paulo, who started
his business nearly two years ago. “The clients are great, the cars
are incredible, and the business is going well – so my wife is
happy too. What more can I want?”
Critical to Paulo’s popularity with Quinta do Lago’s proud car
owners is not just the sheer amount of care that goes into his
work protecting his clients’ investments, it’s in large part due to
the excellent relationships he builds with his clients – many of
them trust him with his own keys to their cars.
“What’s so special about Paulo is just how seriously he takes his
work,” says Quinta Properties’ Alison Højbjerg. “He has an
incredible service ethic which shines through in everything he
does for clients. He’s a real asset to the local community.”
Drive around Quinta do Lago and it’s likely you’ll soon spot one
of Paulo’s vans kitted out with all the latest professional
equipment and products. They’re also fully powered with
electricity, clean water, and all the gadgets imaginable.
Paulo himself has become one of Quinta do Lago’s local
treasures – even the police stop to say “hello” as he weaves his
spell on yet another luxury car.
So what does the future hold for Platinum Valet? “More teams,”
Paulo hopes, “extending our services, perhaps even bridging over
to southern Spain.” But don’t fear. Paulo won’t be going
anywhere yet. “My teams can expand,” he says, “but I shall always
stay with the best – in Quinta do Lago!”
Paulo Assunção, Platinum Valet, Quinta do Lago
Tel: 00351 969 277601
www.platinumautovalet.com
Quinta Properties 33

Lisbon – a city rich in history; the window
to the oceans; one of the beautiful
capitals of the world; the beating heart of
Portuguese culture…
Lisbon
Window to
the Oceans
…tear yourself away from the golden
Algarve coast for a day or two and you’ll
discover just why so many people leave
Portugal’s capital city so entranced.
Lisbon was once one of the world’s wealthiest cities, second in influence only to Venice. The port of departure for discoverers and
adventurers, such as Vasco da Gama and Pedro Cabral, it was here where the riches of the newly discovered world arrived from
Brazil, India and Africa, and from where spices, gold and precious wood were sold into Europe. In the 15th and 16th centuries,
Lisbon boasted 3,000 palaces, 100 churches and was a magnet for artists, adventurers, architects and scientists.
34 Quinta Properties 35

THE JOURNEY
Getting there by car is straightforward: the Portuguese have invested in
some important pieces of infrastructure, including the A2/IP1. Put on
the cruise control at the legal limit (stiff fines beckon above 130kph!)
and, from the Via do Infante (A22) turn off at Paderne; you’ll be there
in less than three hours.
The drive through the mainly uninhabited vastness of the Alenteijo
takes you through soothing vistas of endless fields and meadows,
interspersed with scattered, majestic cork oaks and disciplined lines of
olive groves, standing like serried ranks of soldiers.
At Setubal it’s decision time. Continuing on the A2 will take you into
Lisbon across the spectacular ‘old’ bridge, ‘Ponte 25 de Abril’ and
straight into the centre of town; veering off on the IP1 takes you across
the even more spectacular, 18km-long ‘Ponte Vasco da Gama’ bridge
to the Parque das Nações (the Expo grounds) area of Lisbon. This,
incidentally, is also the best way to Lisbon Airport.
Of course, you can always take the train, so sparing yourself the
headache of parking in Lisbon and driving within the city. Neither is
recommended. From Faro, Loulé, or Albufeira, five trains daily will take
you to Lisbon in 31 / 2 hours; alight in downtown Lisbon (Entrecampos)
or continue to the fantastic new station ‘Oriente’ within the Parque das
Nações. Taxis are cheap and, of course, there’s the underground
system and good buses and trams.
EXPLORING
The great way to explore Lisbon is aboard an old style tram, the
number 28 electrico, a delightful vestige of days gone by, and the route
reminds you that the city is built on seven hills. Services operate about
every seven minutes, making it easy to hop on and off. Eastbound
trams for the Alfama are invariably crowded by the time they reach the
Rua da Conceição in central Lisbon, so travel towards Estrela and
Prazeres and return to the Alfama from that end of the route.
The tram delivers you into the heart of the city. Cameras out for the
splendid Praça do Comercio, a three-sided piazza on a par with
anything in Rome or Venice, behind which you’ll discover the Baixa.
This area is dominated by specialist traders easily identified by street
names: Rua do Ouro (goldsmiths), Rua da Prata (silversmiths) and Rua
Augusta (clothes and footwear). Marvel at the geometric layout of the
streets and the way they funnel cool breezes off the River Tagus.
Although Lisbon goes back millennia, few ancient buildings remain. In
1755 the city was rebuilt after a powerful earthquake. The Marques de
Pombal seized the opportunity to remodel it entirely, constructing a
modern city with efficient sewage, wide avenues, parks and a host of
miradourus – open spaces affording excellent views over the hills of
this intriguingly beautiful city. The best views on the route are to be
savoured from the Miradouro da Nossa Senhora do Monte.
But first we climb the steep and tortuous streets of Alfama, the oldest
part of Lisbon spared total destruction. Some houses hail from the
16th century, completely clad in azuleijos, beautiful hand-painted tiles,
the streets so narrow that opposite balconies almost touch. The
clanking tram threads through twisting cobbled streets with an Arabic
atmosphere, acres of laundry providing a shady canopy. From tiny
restaurants, in every little square and backyard, waft smells of grilled
sardines. Once dilapidated buildings are now being renovated and
converted into artists’ studios or galleries… a new stage in the life
of Alfama.
Lisbon Cathedral is a heavy pile in the Romanesque style from the 12th
century. During the Moorish occupation, like so many other churches
all over Portugal, it served as a mosque. It survived the earthquake
relatively unscathed, a fate not shared by the elegant and lofty Gothic
church of São Roque, on the opposite hill in Chiado; the skeletal ruins
pay witness to its former glory.
See Lisbon and read a
page in history
Art
Culture
Shop
Food
Walk
Laugh
Enjoy
Relax
Lisbon has
delights and
surprises in
abundance
The Castelo São Jorge, dominates the old town. It’s true story is obscured in
the mists of myth and history, but we know the Romans built a fortress here
in 48 BC.
The Chiado, to the west of the Baixa, rises up yet another hill. This is the
Knightsbridge of Lisbon, thick with elegant boutiques and designer shops.
A disastrous fire in 1988 destroyed a huge area, but made space for elegant
boutiques. Follow the Rua Garrett and slip into the mahogany booths of
Brasileira, Lisbon’s oldest and most respected café. This was once the
favourite watering hole of poets, such as Fernando Pessoa; today a bronze
statue of him has taken a seat, eternally and pensively, at a curb-side table.
If tea is your tipple, find ‘Bernard’ in the Chiado. Refurbished, air-conditioned
and famous for its pastries, it is a popular meeting place for government
officials, business people and shoppers. Tea, remember, was brought to
Europe by Portuguese seamen and introduced to England by the Portuguese
queen of Charles II, Catherine of Bragança. The pleasant black tea from
Mozambique is well worth sampling.
The Bairro Alto, or upper town, is the Latin Quarter of Lisbon, the district for
restaurants, bars and fado nightclubs. Fado, the soulful Portuguese national
music, recently made popular internationally by Mariza, is played slowly and
dramatically on special guitars and lutes, and sung with passion and vigour.
Fado is more than moving folklore. It is Weltschmerz, saudade, longing,
repentance and confession, self-pity and self-mourning, suffering and passion
and the most sublime form of happiness – all wrapped into shared tears and
quiet observance. Remember: real fado aficionados listen without comment or
disruption. Going to a fado club early in the evening is only for tourists; go late
and stay late.
As our tram ride continues westward the roads straighten and the gradient
eases. This is Estrela, where Lisboans work in offices and shop in street
markets. From this plateau one has views across the terracotta roofs to the
Tagus river and to Alcantara, the docks. The white tower of Belem and the
Jeronimos Monastery as well as the new Cultural Centre of Belem building are
well worth a visit.
Above it all towers the enormous statue of Christo Rei on the other bank,
looking down not only on the stupendous suspension bridge, but the mouth
of the river that pours out its waters into the vast Atlantic Ocean. From here,
courageous seamen once ventured to sail into unknown waters and discover
mysterious shores on the other side of the world.
EATING OUT
Try one of the many typical restaurants of the Bairro Alto; the ‘Bota Alta’ on
Travessa Queimada 35, tel: 00351 213 427959, or ‘Pap Acorda’ on Rua da
Atalaia 57, tel: 00351 213 464811, are both popular and reservations are
recommended. John Malkovich co-owns one of the trendiest restaurants in
Lisbon, the Bica do Sapato, and this is not to be missed. They offer traditional
Portuguese food, but the restaurant is better known for its sushi on the top
floor. Be sure to book! Tel: 00351 218 810320.
Another experience is Lisbon’s oldest restaurant, ‘Tavares’ on Rua da
Misericordia 37, tel: 00351 213 421112 – over 200 years old and very
fashionable; don’t be surprised to find yourself sitting next to someone
famous. Reservation is a must, and if you fail, try the ‘Trindade’, tel: 00 351
213 423 356 or “Aviz”, tel: 00351 218 876472.
WHERE TO STAY
We recommend ‘York House’. This is a charming small boutique hotel with a
very colourful history, and which began life 1606 as a convent. Each room is
completely different and they vary from plush and cosy to minimalistic. There
is a restaurant and bar, as well as a very charming courtyard where you can
breakfast and take your afternoon tea. Tel: 00351 213 962435.
For more palatial accommodation try the ‘Lapa’. This is a truly magnificent
hotel. Ask for a room high up with a view to the Tagus River.
Tel: 00351 213 949494. 37

38
A NEW YOU?
Tired? Stressed? Simply in need of a special hour or two
unwinding in the lap of luxury? Then head for one of Quinta do
Lago’s newest facilities.
Set amongst some of the most prestigious real estate in Europe is
the prestigious Hotel Quinta do Lago with a superb new spa.
But it’s not only the guests who can enjoy this 2004 refinement.
The spa is proving an irresistible attraction for Quinta do Lago
residents too – drawn by the array of beauty therapies on offer
within a tranquil and exclusive atmosphere.
This really is the place to unwind. The new spa features an
attractive overflow indoor swimming pool, a multi-jet bath, two
hammams (Turkish steam baths), two saunas, a relaxation area
and an outdoor jacuzzi. And if that wasn’t enough, there are six
rooms offering a plethora of luxurious treatments including
aromatherapy, facials, rejuvenating, revitalising and anti-stress
programmes, as well as traditional, oriental and volcanic hot
stones massages. Or for something more invigorating, there is
also a fully equipped gym.
Guests can indulge in luxurious one, two, three, five and six day
spa programmes, but for those dropping in for a deliciously
relaxing morning or afternoon, on your own or with friends, all
of the treatments can be booked ‘a la carte’.
my time
Why not try the head-to-toe
Thermo Spa Concerto Treatment –
the three phases are mud wrap,
foot reflexology and scalp
massage. Or Thalatherm (a steam
bath with algae or mud wraps) or
Shiatsu massage? Other treatments
on offer include Reiki, Sethai,
physiotherapy and sports massage.
One, three and five day special
programmes combine various
specific therapies – appropriately
named the ‘Anti-stress’,
‘Pampering’ and ‘Athlete's
Revival week’ programmes.
If you’ve been looking for the
perfect place to tone, tune and
treat yourself, you may just have
found it.
Hotel Quinta do Lago
Tel: 00351 289 350350
www.hotelquintadolago.com
The saddest thing I can imagine
is to get used to luxury
Charlie Chaplin
Quinta Properties
39

40
on course at
Pinheiros Altos
A new era will dawn on the 1st January
2007 when the exciting new nine holes
at Pinheiros Altos are officially opened
The new holes will integrate with the existing first
nine holes to form two par 36 front nines. The
existing back nine will, for now, remain the same
and complete the 27 holes.
Major changes to the existing 6th and 7th holes have already been made
to allow the integration of the new and old to take place. These changes
have whetted the appetite of members and visitors alike and the new
holes are awaited with tremendous anticipation.
The magnificent new course incorporates four large lakes, three of which
are connected by a rambling brook, and out of the 9 holes, seven could
see the golfer’s ball finding a watery grave! Add to this the ancient
existing cork trees, the old Portuguese nora, the picturesque views over
Pinheiros Altos
Tel: 00351 289 359900
the Ludo valley to the Goldra hills beyond,
and the several hundred strategically placed
pine trees due to be planted this year, and
you have a golf course like the best female
spies: beautiful but dangerous! The beauty
of the design, by today’s most talented
Portuguese golf course architect, Jorge
Santana da Silva, is not only aesthetic but
strategic. It is very much ‘risk and reward’
and it will seem that on each hole the golfer
will be faced with the decision to play safe
or attack.
Today’s Pinheiros Altos course is a far cry
from the course which opened in 1992.
Over the years, various improvements and
challenging changes have been made to the
original 18 holes and no doubt such ongoing
attention will be paid to the new 9, ensuring
that the 27 hole course will continue to
prove testing to even the most regular
player as it matures.
Like any good business there will be no
standing still at Pinheiros Altos. The resort’s
benefits are obvious, and Pinheiros Altos
continues to move forward with exciting
ongoing projects along with many ideas
which will be put into action in the future.
In the meantime the renovated 27 hole
course will offer consistent enjoyment to
all who play it, along with a few pleasant
surprises along the way.
Quinta Properties 41

London Branch
MONEY TALKING
quinta properties financial pages
The Quinta Properties guide
to finance, legal matters and
property ownership
We have put together the following pink pages to give potential purchasers and
vendors an insight into buying, owning and indeed selling property in and around
the exclusive resort of Quinta do Lago. In this section you will find invaluable information
to ensure that you get the most from your investment.
In these pages we have explained the different buying and selling procedures, with
an emphasis on the Offshore/Onshore question, offered some mortgage options,
and explained many aspects of property taxation. We have also shown examples
of average running and maintenance costs – from condominium and security fees
to maid service and pool cleaning!
Getting them lined up
At Quinta Properties we know that our business depends on happy customers, and
happy customers are well advised customers. We make it our business to make sure
that all our clients, buyers and vendors alike are given the very best guidance and
advice. This starts with making sure that we understand our clients’ needs and then
making that extra effort to guide them through the buying and/or selling procedure,
to achieve the desired results.
We hope you find these pages helpful!
Money isn’t everything, but it sure keeps you in
touch with your children Paul Getty
Buying Procedures
Quinta Properties Page 44
Financing The Dream
The bank with local knowledge,
Simon Perks of Totta Page 45
Company Ownership
What are the advantages?
Quinta Properties Page 46
Property Taxation
The Facts on Tax, Dennis Swing
Greene of euroFINESCO Page 48
Portuguese Tax
Benefits
How tax rates compare to
Spain, euroFINESCO Page 51
Running Costs
From infrastructure to garden
maintenance costs in Quinta do
Lago Page 52
Using Your Equity
How to optimise your investment,
Jyske Bank Page 54
43

Buying
Procedures
There are two main ways in which one can buy a property in Portugal. The first is
the transfer of the deed from the vendor’s name to the buyer’s, which we refer to as
Private Ownership. The second is the transfer of the shares of a company which owns
the property, known as Corporate Ownership. Both are relatively straightforward.
Private Ownership
When buying a property in Portugal in
one’s own name, the first step is the
Preliminary or Promissory Contract
(Contrato Promessa de Compra e
Venda). This is a legally binding contract
between vendors and buyers
and signed before a notary. Upon this
signature the buyer generally pays a
10% non-refundable deposit. This
contract usually states exactly who the
buyers and the vendors are, a description
of the property, confirmation that
there is clear title, and the terms of
payment and completion. Both parties
should be represented by a local
lawyer.
Upon completion the Escritura
(Final Deed) is signed in front of the
Notary who checks all the documentation
and sees that the IMT (property
purchase tax) has been paid. At this
stage, the full purchase price is also
paid. From time to time and with the
agreement of both parties, a part of
the purchase price may be withheld
from the vendor until certain aspects
of the deal are fulfilled. For example, a
snagging list may need to be dealt with.
In these circumstances, the buyer’s
lawyer generally holds the ‘retention’
until all paperwork and other outstanding
issues are resolved.
Financing
the dream
quinta properties financial pages quinta properties financial pages
Once the deed is done, the buyer’s
lawyer registers the new owner of the
property in the Land Registry (Registo
Predial). Buyers should request a copy
of this registration for their files.
Corporate Ownership
Many properties in Portugal, and especially
in the Algarve, are owned by a
company. Today these companies are
usually domiciled in Malta or
Delaware. The Property itself is an
asset of the company and buyers purchase
the shares of the company. This
transaction takes place in the jurisdiction
where the company is domiciled.
There are benefits in buying and owning
property in this manner and we
have explained these in the section
Corporate Ownership.
Both parties do still require a local
lawyer as the usual searches on the
property here in Portugal must still be
carried out, and most local lawyers are
also familiar with this type of corporate
transaction.
A Share Purchase Agreement is
drawn up, the usual deposit paid and a
completion date set in the usual manner.
The immediate benefits of such a
transaction are indeed its simplicity
and the fact that all documentation
proceeds in the English language.
The Costs Involved
These are usually the lawyers’ and
agents’ fees and taxes. In our pages on
Taxation we have explained these in
detail. The lawyers’ fees vary anywhere
from 1% to 2.5% of the purchase
price, but this depends on the
circumstances and lawyers involved.
The estate agents are paid by the vendors
in Portugal. These rates also
depend on the agent and vary anywhere
from 3% to 7%.
Simon Perks from Banco Santander Totta or simply ‘Totta’
There is no such thing as a
‘typical buyer’ of property
in Quinta do Lago –
although there are some
common factors.
Normally they are well-travelled, with
an international outlook on life. They
probably like golf, certainly enjoy
nature at its best, and appreciate the
delicious choice of wining and dining in
the area.
They may be looking for a mortgage
to top up their available funds, or to
use bank money rather than their own
to buy a property: either way, they
need to have confidence with their
chosen finance provider and the
comfort of people who speak their
language.
Banco Santander Totta (simply
known as ‘Totta’ to its friends) is a
Portuguese commercial bank that can
trace its origins back to 1843. In March
2000 the bank became part of Grupo
Santander, one of the world’s largest
financial groups, who took over Abbey
National in 2004. The London branch,
in the heart of the City, opened in
1973: it is authorised by the Bank of
Portugal and regulated by the FSA for
the conduct of UK business, making it
ideally placed to support those buying
a property in Quinta do Lago –
or anywhere else in Portugal, come
to that!
The mortgage plan offered by
Totta is straightforward, with no hidden
clauses or small print. Geared
specifically for the market in Portugal,
finance is available for the purchase
of freehold land and buildings,
apartments and villas. Stage payments
will also be considered, and these
are particularly useful for those
having their dream villa built, or buying
off-plan.
The bank is happy to lend for
properties being bought privately or
through a company specifically set up
for the purpose. It will require a first
legal mortgage, on a privately-held
property, or a charge over the shares
of a company in a corporate structure
as security, and also ask for an
assignment over an appropriate life
insurance policy.
The bank will normally lend up to
75% of an independent valuation value,
and will not lend more than the total
Simon admits that he has a soft spot for
Quinta do Lago. “Our clients here have all
seen their properties rise in value, which
shows what a good investment they have
made, and we at Totta are always happy
to talk to anyone thinking of buying in
Quinta do Lago.”
purchase price. The minimum loan is
GBP 75,000 or equivalent, and interest
is normally 1.75% over the bank’s base
rate in the relevant currency: lower
rates may be negotiated on a case-bycase
basis. The maximum term is
usually 25 years, and will not normally
extend beyond the 65 th birthday of the
applicant.
Although Totta has an extensive
network of branches throughout
Portugal, mortgage applications are
always handled from London. The man
responsible is Simon Perks, a regular
visitor to the Algarve, who knows the
developers and agents well, and what
the markets are doing, and can talk
from personal experience about
individual resorts.
Banco Santader Totta SA
t: 020 7621 2660
f: 020 7929 4970
e: mortgage@btax.co.uk www.totta.co.uk
44 45

‘Company-owned’
property in Portugal
What are the advantages?
The confusion about
companies owning
property in Portugal has
now largely been
resolved.
Owners have generally complied with
Portugal’s requirement that property
be owned in an acceptable jurisdiction,
generally choosing Malta, Delaware
or Portugal.
Buyers continue to ask us many
questions regarding the different
methods of owning a property in
Portugal. They naturally want
reassurance when so much money is
being invested in a property abroad,
and we fully understand that concern.
There is some misunderstanding,
which can lead to incorrect and
unhelpful advice. In an attempt to help
all of our clients, both buyers and sellers,
we have therefore decided to
devote a few words in this publication
to explain in a clear way the reasons
why many owners of property in
the Algarve decided, and continue
to choose, to purchase and own their
property through a corporate
structure.
Our speciality is property here in
the coastal region of central Algarve,
with particular emphasis on the areas
of Quinta do Lago, Pinhieros Altos and
the surrounding areas. For the most
part the building development in these
areas post dates the Portuguese revolution
of 1974, and this is a useful
starting point in our explanation.
The majority of buyers (and now
property owners) here in our area
quinta properties financial pages quinta properties financial pages
have been, and remain, English or from
English speaking countries, or simply
adopt English as the international
language of the Algarve. Accordingly,
when property development started
here post 1974, matters had to evolve
and cater to English speaking buyers.
Owning a property through an
English speaking venue, coupled with
the benefits of corporate property
ownership, offered a very attractive
method for owning property here in
the Algarve, and in fact, it still does.
The Benefits:
• Transfer of property is a very
simple and tax efficient procedure,
being simply a transfer of shares by
a document in the English language.
• IMT – Property Transfer Tax,
notary and land registry fees are
avoided – up to 8% of purchase price.
• Company owned properties can
be mortgaged quite simply in
English speaking jurisdictions and
the documentation will also be in
the English language.
• Transfer on death ensures that
heirs can deal with their inheritance
in the English language, and according
to British law, and do not have
to deal with the Portuguese legal
system. In Portugal there is forced
heir-ship – spouse and children
inherit automatically. Individuals cannot
choose to whom they wish to
leave their estate.
• Capital Gains Tax is not payable
in Portugal on the increased value
of the property. The capital gain on
the sale of the shares is subject to
the jurisdiction of the seller.
• Buyers/owners enjoy anonymity.
So the process began, and over the
years the ownership of property here
in the Algarve through a company
became the accepted practice. The
property owners themselves owned
the shares in the company, and when
the property was sold, all that actually
happened was that the shares were
sold; the company remained the owner
of the property and the buyers became
the new shareholders.
In 2003 there were some
fundamental changes. All of those
countries outside of Portugal (sometimes
referred to as Offshore Centres)
were classified by an international body
known as OECD into Black List and
White List jurisdictions. The Black List
jurisdictions were for the most part
those countries that offered beneficial
tax regimes that were out of line with
the White List countries. The intention
being that those on the Black List
would be thus encouraged to fall into
line with White List jurisdictions.
It was decided that a special higher
tax would be applied on those
property owning companies that were
based in Black Listed countries. For
details please see the taxation article
on page 48. Many owners of properties
here in the Algarve, that had for years
been based in Gibraltar and other
(now) Black Listed jurisdictions, had to
make fundamental decisions about the
way that their properties would continue
to be owned.
At that time the overwhelming view
of most clients and their professional
advisers was that they wanted to
continue to own their properties in a
company, but not in places such as
Gibraltar and those other Black Listed
jurisdictions. Most clients continued to
be of the opinion that the benefits of
corporate ownership outweighed the
disadvantages.
Because of the advantages of owning
a property through a company, the
search was now on for a practical
solution to what threatened to
become a real additional tax burden on
many (mostly foreign) Algarvean
property owners.
The solution was to find countries,
that were not on the Black List, which
offered (within their law), the
possibility for companies to migrate to.
Yes, companies do ‘migrate’ just like
people! There were 2 clear possibilities:
Malta, and Delaware, USA.
The effect was that thousands of
companies owning properties here in
the Algarve were on the move to a
new home. Malta, being English
speaking and a full member of the
European Union, was immediately
attractive and many companies
re-domiciled there. Delaware, being
one of the 53 States of the USA also
offered confidence, and many
companies went there.
Now, in 2006 at last, most of the
‘migrating’ has been completed and the
situation has been clarified, giving
buyers and sellers the confidence that
their properties are now owned by
companies in jurisdictions in White
Listed areas. It is now quite normal to
see Algarvean properties in Estate
Agents windows described as owned
in Malta or Delaware. It is completely
acceptable for properties to continue
to be owned by such companies. The
valuable advantages we listed on the
opposite page continue, and the majority
of properties in and around Quinta
do Lago continue to be sold by the sale
of the shares in the companies now
based in Malta or Delaware.
There continue to be very real
advantages in CORPORATE ownership,
and you should consider these
when you find that the property you
want to buy is owned by a company
based in Malta or Delaware.
Now let us tell you some other
things that might be said about corporate
ownership. Firstly, you may be told
of a Capital Gains Tax (CGT) problem
if you buy the shares in the company. It
is likely that there is a ‘locked in’ CGT
liability because the property is a company
asset which has likely increased in
value. If the company is ever called
upon to sell that asset out of the
company to a 3rd party there will likely
be a CGT liability on the company
(and in practice payable by the under-
lying owners of the shares). Good
agents and professional advisers will
inform you about this, and we make a
point of explaining this to all our clients.
Our opinion is: we have a settled
market here in the Algarve, and the
intention is (and always has been) that
properties in corporate ownership,
remain in corporate ownership. In
other words the ‘locked in’ CGT
liability should never materialise, for
practical purposes.
The issue of the ‘locked
in’ CGT liability has become
a negotiation issue, not a
deal breaker.
The ‘locked in’ CGT liability issue
has now become part of the negotiation
which we undertake for vendors
and buyers. You can be assured that we
have considerable experience and are
doing this to great effect. We are here
to help both sides reach a deal they
both feel comfortable with – otherwise,
there is of course no deal at all.
Subsequent to writing this article, we looked into a new structure of corporate property ownership – namely a Portuguese nominee company, and our
opinion is that this may be an option for some. Like with everything, there are advantages and disadvantages and they should be looked into
carefully. We think this option however is only interesting for people who are tax resident in Portugal.
46 47

Portuguese Property
and Taxation
The Facts about Tax
Portugal, like any other country in
Europe, has an array of taxes that
relate to property. Some are
connected to possession of the property,
others to different forms of related
income, while still others to its
transmission. What was that proverb
about Death and Taxes?
Non-Residents and Fiscal
Representation
Under current Portuguese legislation, it
is mandatory in most instances for nonresidents
with income arising in
Portugal to have Fiscal Representation.
The Fiscal Representative is obliged to
see that the non-resident meets
compulsory compliance commitments.
As the liaison between the taxpayer
and the Finanças, the Fiscal
Representative can also help guide the
non-resident through Portuguese
bureaucracy.
I. Inheritance Tax
Let’s start with the good news.
Portugal abolished Inheritance Tax as
of 1 January 2004. All family members
(spouse, children, grandchildren,
parents and grandparents) are exempt
from tax on gratuitous transfers due to
either Gift or Inheritance. All others
are assessed Stamp Duty at a flat rate
of 10%.
II: Municipal Property Transfer Tax
IMT, formerly called ‘Sisa’, is levied
when property is bought and sold: the
transfer for consideration of ownership
rights or of partial ownership on real
estate (immovable property). The taxable
person is the one who acquires
the property.
Rates: for buildings intended exclusively for housing purposes in 2006
Percentage Rates – 2006
Amount liable to Transfer Tax Marginal Rate Tax Band Adjustment
(Euros) (% of purchase price) (Reduced by)
up to €85,000 0 -
over €83,500 - €114,800 2% €1,670
over €114,800 - €156,500 5% €4,246
over €156,500 - €260,900 7% €8,244
over €260,900 - €521,700 8% €10,853
over €521,700 single rate of 6% -
Assessment and Collection
Payment must be made prior to the Deed of transfer at the local tax office.
quinta properties financial pages quinta properties financial pages
III. Stamp Duty
One must also pay Stamp Duty on
deeds, contracts, documents, titles,
books, papers and financial operations.
This tax is paid by the purchaser.
The Stamp Duty is levied on the value
of each taxable deed or
operation at a tax rate which varies
according to the type of deed or
operation. For real property, a Gift or
Sale is assessed at 0.8%.
IV. Individual Income Tax – ‘IRS’
If you have income arising in Portugal
related to your Property, you (or your
fiscal representative) must report any
earnings on an annual income tax
declaration (‘IRS’). Non-residents can
then claim a foreign tax credit in their
home jurisdiction, usually offsetting the
Portuguese assessment.
• Other Urban Property, such as
building plots: 6.5%
• ‘Rustic’ Property
(agricultural land): 5.0%
• When a company listed in one
of the Black-Listed
jurisdictions
acquires a property in
Portugal: punitive tax rate
of 15%
• When a company listed in a
White-Listed jurisdiction
acquires a property in Portugal
the same rates apply as shown
in the table to the left.
• If one purchases the shares of
a Maltese of Delaware
company, there is no property
purchase tax in Portugal.
‘Letting’ as a Business
Residents who engage in tourist related
business activities are eligible for privileged
treatment under the ‘Simplified
Regime’. If you let out furnished
accommodations to tourists on a
short-term basis, you are only taxable
on 20% of your invoiced income and
enjoy an 80% exclusion. Beware, however,
that there are accessory requirements,
such as licensing of premises,
VAT reporting when income exceeds
€10,000 per annum and Social
Security deductions as of the second
year of business. All in all, although
there are a few hurdles to overcome,
this mode of business operation can be
highly advantageous. Being fully compliant
usually means only a very modest
tax burden.
Rental Income and Non-Residents
Since non-residents are not eligible for
the ‘Simplified Regime’, the simplest
way to declare rental income is under
Category F, Rental Income. As of 2005,
non-residents benefit from a special tax
rate of 15% for this type of income.
The tax paid in Portugal should be eligible
for a foreign tax credit in the
home jurisdiction.
If you rent out a house or an apartment
in Portugal, you will need to
declare the income first on a
Portuguese income tax return. Even if
your ‘renters’ were foreign holiday
makers and you were paid outside of
Portugal, you still need to declare the
income to Finanças. Tax paid in
Portugal should be eligible for a foreign
tax credit in the jurisdiction of tax residence.
Be sure to consult the
appropriate Double Taxation Treaty
on how to deal with any potential
conflicts.
CGT for Individuals
When you sell a property in Portugal,
the notary who performs the deed is
required to report the transaction to
Finanças. Stated more bluntly, if you
don’t report the sale, he will, and they
will come after you.
How to calculate the gain
Although it is Finanças, not you, who
does the actual calculation, it may be
worthwhile knowing what you will
have to pay. Let’s suppose that you sell
your home in 2005 that you had origi-
nally purchased in 1994. Calculate your
Capital Gains as follows:
Step 1: From the sale price, subtract
any selling costs (commissions, notary
fees, etc.)
Step 2: From the purchase price, add
qualifying expenses (closing costs, legal
fees, etc.), then multiply by the Inflation
Adjustment Coefficient
Step 3: Add to the purchase price
any documented capital improvements
in the past 5 years.
Conclusion: The difference between
the adjusted purchase and sales prices
is your net taxable profit.
Proper invoices can be a major
problem. Many contractors give only
informal receipts that are not valid for
tax purposes. If this dilemma reaches
significant proportions in your instance,
specific tax advice may be in order.
Taxation: Resident vs. Non-Resident
As with all aspects of taxation in most
countries, tax breaks exist for residents
(who are the voters) that do not exist
for non-residents (who cannot vote).
Those that make their permanent
residence home outside of Portugal
pay a flat tax of 25%, more than any
resident higher rate taxpayer would
pay. Residents receive a 50%
exemption before the gain is added to
their other income and taxed at
marginal rates. If the property is your
principal residence, then you can roll
over your profit into a new property.
You have a three year window to do
so: up to one year before the sale and
as much as 2 years after. If you reinvest
less than the full amount, the
exemption will be on a pro rata basis.
In the event that you do not fulfil your
declared intentions, an assessment will
be made on the entire non-reinvested
balance plus interest.
Non-resident companies, whether
‘Black-Listed’ or ‘White-Listed’ are
assessed at the flat rate of 25%.
If you use a Portuguese company such
as a Nominee Company, to hold your
property, the CGT rate on the sale of
the company (holding the property)
drops to only 10%.
V. Property Tax – ‘IMI’
At the heart of the 2003 Property Tax
Reform is the new ‘VPT’ Evaluation
System (‘Valor Patrimonial Tributário’).
Comprised of five basic components,
this calculation is based on ‘market
value’ rather than ‘potential rental
income’ as in the previous system. This
‘market value’ is calculated taking
the following into consideration:
Constructed Area and Implantation,
Type of Usage, Age, Location, and
Quality of Construction. The best and
simplest way to do this is to use the
Finanças simulator on the internet. As a
guideline your annual property tax
(IMI) may be levied at up to 0.72% of
the ratable value for privately owned
properties and properties registered in
a white-listed corporate structure.
ie: with domicile in Malta, Delaware
or indeed the UK. For properties
registered in a corporate structure,
48 49

in one of the black-listed jurisdictions
ie: Gibraltar, the IMI will be levied at
5% of the ratable value.
Conclusion
It may come as a surprise that filing a
correct tax return in Portugal can
actually save you money. Submitting a
tax declaration is not synonymous with
paying tax. The Portuguese tax code
has generous allowances and unexpected
exclusions on certain forms of
income, broad deductions for numerous
types of expenses, and
liberal tax credits for many common
expenditures. Many people find their
tax burden in Portugal to be
significantly lower than in their country
of origin. Note these examples:
Rental Income
If a resident has a buy-to-let scheme, a
couple with €50,000 of income from
rentals to tourists would have less than
quinta properties financial pages quinta properties financial pages
€1,000 of tax to pay. Non-residents
enjoy a flat rate on rental income of
only 15%.
Roll-Over Relief
If you sell your principal residence and
fully reinvest the proceeds in a new
home, the capital gain is exempt. This
is to be extended eventually to new
home reinvestment anywhere in the
European Union.
Nominee Companies
If you purchase property for
investment purposes, using a
Portuguese Nominee Company will
drop your eventual Capital Gains Tax
rate by 2 fold and often eliminate
Property Transfer Tax ‘IMT’.
Inheritance Tax
Portugal abolished Inheritance Tax as
of 2004. Transfers to immediate relatives
(spouse, children, grandchildren,
parents and grandparents)
are tax exempt. All others pay only
10% Stamp Duty. These and other
benefits are entitlements under legislation.
It is your right as a citizen and
taxpayer to take maximum advantage
of these tax breaks. Who knows?
Portugal may prove to be a legal ‘tax
haven’ for you within Europe.
Private consultations with
Dennis Swing Greene from
euroFINESCO can be scheduled
at our offices in Guia (Albufeira)
and Lisbon (Chiado) or by Video
Conference via the Internet.
Head office Algarve:
Tel: 00351 289 561333.
Lisbon office:
Tel: 00351 213 424210,
e-mail: info@eurofinesco.com,
or www.eurofinesco.com.
Doctor Leonardo Ferreira Dias
One of the Algarve’s
most respected
Lawyers passed away
in April 2005.
Born and educated in Lisbon; Dr Dias arrived in
the Algarve as a young and enthusiastic Lawyer.
It did not take long before he started his own
practice and he soon became known as one the
areas most respected professionals. Dr Dias loved
the law and like everything he did, he gave it his all.
Clients, friends and family remember him dearly
and miss him enormously.
Taxation on Property:
Spain vs Portugal by Dennis Swing Greene
Unless you have specific links
to Portugal, you may also be
considering other countries for
investment property options.
While there are innumerable criteria to take into consideration,
a head-to-head comparison of eventual
forms of taxation will prove to be one of the key factors
in making an informed decision. The following
chart lists the principal taxes related to property in
Spain and Portugal and the respective rates of taxation
in 2005. Not surprisingly, neither country
would normally be classified as a ‘low-tax jurisdiction’.
However, with the exception of VAT, it is
quite apparent that, of the two countries, Portugal is
clearly the more benign.
HIGHER TAX
SIMILAR TAX
LOWER TAX
TAXES SPAIN PORTUGAL
Personal Income Tax (IRPF / IRS) 15% – 45% (€46k) 12% – 42% (€60k)
Tax on Non-Residents (IRNR) 25% 25% (15% on lets)
Special Non-Resident Property Tax 3% pa on property value 0
Real Estate Tax (Plusvalia / IMI) 2% – 3.7% 0.5% – 0.8% / 0.3% – 0.5%
Capital Gains Tax on Real Estate Residents: 15% Residents: 50% exemption;
Non-Residents: 35% balance at marginal rates /
(+ 5% withholding) Non-Residents: 25%
Wealth Tax (IP) 0.2 % – 2.5% p.a. 0
VAT (IVA) 4% / 7% / 16% 5% / 12% / 21%
Inheritance Tax (ISD) 7.65% – 34% 0
(immediate family: exempt
Others: 10% Stamp Duty)
Property Transfer Tax 7% (Stamp Duty) 0 – 6% (IMT)
50 51

know
passion for property
www.quintaproperty.com
Average
Running Costs
Outside
Quinta do Lago Development
Euros 2 Bedroom 4 Bedroom 4 Bedroom
Apartment Villa Villa
Infrastructure 592 1,481 N/A
Security Services 344 1,438 N/A
Condominium Fees 3,500 N/A N/A
Alarm Maint/Monitoring 120 900 375
Insurance 110 1,400 1,400
Property Tax 550 4,977 2,100
Property Management 760 2,636 2,100
Maid/House Maintenance1,100 7,000 5,000
Garden Maintenance N/A 5,100 4,000
Pool Maintenance N/A 3,000 2,100
Electricity 650 2,700 2,100
Water * 200 4,120 2,000
Cable/Sat TV 355 363 400
Total 8,281 35,115 21,575
*Many properties have their own boreholes and pay no actual water costs.
Please note that these are averages and actual figures will vary from
property to property.
quinta properties financial pages
Quinta do Lago
Condominium, Infrastructure and
Security Service Costs
Condominium Infrastructure/ Security
Basic Services
Individual Villas
Plots with no construction N/A € 944 N/A
Three bedroom N/A € 948 € 795
Five bedroom N/A € 1,580 € 1,326
Encosta do Lago
Two bedroom included € 2,832 included
Three bedroom included € 4,248 included
Lakeside Village
One bedroom apartment € 1,137 € 296 € 172
Two bedroom apartment € 1,912 € 593 € 344
Three bedroom villa € 2,232 € 888 € 516
Four bedroom villa € 2,976 € 1,185 € 885
Pinheiros Altos*
One bedroom apartment € 2,660 € 296 € 416
Two bedroom apartment € 2,980 € 592 € 1,052
Three bedroom semi-detached / Townhouse € 4,600 € 889 € 1,248
Four bedroom villa € 10,500 € 1,100 € 1,600
São Lourenço
Studio € 1,690 € 296 € 172
One bedroom apartment € 2,126 € 296 € 172
Two bedroom apartment € 4,225 € 592 € 344
Three bedroom apartment € 6,325 € 888 € 516
Monte da Quinta*
Two bedroom townhouse € 3,500 included included
Three bedroom townhouse € 5,600 included included
Three bedroom detached villa € 7,200 included included
Four bedroom detached villa € 7,674 included included
Five bedroom detached villa € 10,167 included included
Vale do Pinheiros
One bedroom apartment € 3,500 included included
Two bedroom apartment € 4,500 included included
Prices do not include: VAT, Council tax, private gardens or utility charges.
Please note prices shown are intended as a guide only, and were correct at time of print.
* Minimum costs quoted as each property is priced individually in accordance with the perimeter.
53

54
Use your equity
for investment
You can now optimize
your personal finances by
releasing the equity in a
property that you already
own for investment purposes,
or modify your tax
situation by refinancing it.
And you can elect to pay
interest only for a period
of 10 years.
The wonderful climate, beautiful countryside
and relaxed atmosphere attract
an increasing number of people to the
Algarve. But why not let your property
ease your life economically as well –
by using it to boost your personal
finances?
Many investors who could pay for a
property outright still choose to mortgage
the property. In some cases, this
suits an individual’s tax planning.
Others take out a mortgage and invest
it elsewhere in the expectation that
the returns will exceed the interest
they pay.
quinta properties financial pages
New and improved
A mortgage allowing you to release
the equity in your property is now
being offered by Jyske Bank in
Gibraltar. The Keyplan Mortgage, available
for some ten years, has been
updated with several important
improvements. The term to maturity
has been almost doubled from 20 to
35 years. A 10-year interest-only period
is also now possible. This offers you
repayment schedules to match your
financial circumstances. Mortgages can
be drawn down and repaid in seven
major currencies which you can
change throughout the entire term of
the loan.
The amount available will still be a
maximum of 65% of the value of the
property. It is, however, now possible
to advance up to 100% of the property
value if the funds released are
pledged to Jyske Bank as additional
security, such as investments through
the bank.
Jyske Bank offers a full range of
investment products, and the team of
professional advisers will be pleased to
draw up an investment scheme tailored
to your financial requirements.
You can choose an adviser who speaks
your preferred language, since Jyske
Bank has advisers in Gibraltar who
speak English, German and the
Scandinavian languages fluently. The
documents, reports and statements
are also produced in English, German
or Danish.
Of course you will have to keep up
payments on your mortgage as agreed;
and if you fail to do so, your home may
be repossessed. You should also be
aware that the value of the products in
which the sums borrowed are invested
may fall, leaving you to continue to
repay the debt.
Up to two Keyplan Mortgages per
borrower
You can now take out another loan
through the bank to finance 50% of a
second property on the Algarve coast,
the Côte d’Azur, or on the Costa
Blanca or Costa del Sol.
Having marketed the Keyplan
Mortgage for 10 years on the Algarve
coast and the Costa del Sol, Jyske Bank
has considerable local knowledge of
the areas, and the bank works with
local surveyors with vast experience in
appraising properties. This operates to
your advantage, as you can be sure
that the price you pay for a property
reflects its true value.
For more information on how to
optimise your investment, please
call us on 00350 72782, email
Jyske Bank (Gibraltar) Limited on
jyskebank@jyskebank.ltd.gi or visit
www.jbpb.com

Exclusively from Quinta Properties
property
pages
Apartments
Townhouses
spectacular
Villas
in and around
Quinta do Lago
The following pages show a typical range of properties available
through Quinta Properties. Please contact us for our full portfolio.
56 57

58
Practical apartments, stylish townhouses, luxury
villas – or even plots to build your dream home on.
The choice is yours, and there are some exceptional
properties in our Quinta Properties portfolio.
“Our approach is to understand how the property will be used,”
says Alison, “and how it will fit into the owner’s life. From there
we can usually direct them to the right place.”
A home to live in all year around will be different from an
apartment or villa to rent out. A short-break hideaway
won’t be the same as a family gathering place.
“Our approach is to understand how the property will be
used,” says Alison Højbjerg, Director of Quinta Properties,
“and how it will fit into the owner’s life. From there we
can usually direct them to the right place.”
“For our clients, making the decision to come to Quinta
do Lago is easy,” says Alison, “it’s deciding where to
spend more that takes the time!”
Apartments can come with superb views, and being
minimum maintenance, are the ideal convenience
property. Townhouses move up the scale, generally
offering more space, while villas are built for style and
luxury, and provide every comfort for memorable family
holidays or full-time living. With elegant gardens, pools
and barbecue areas designed to cater for ‘indoor-outdoor’
living and entertaining, these villas are perfect
for life here in the sunshine.
But common to all Quinta do Lago properties are the
reassuring elements of security, care and maintenance.
Over the past ten years, property values in Quinta do
Lago have risen way beyond those of more traditional
investments, with the added bonus that the property
can be enjoyed while the investments grow. “A lot of
shrewd investors have snapped up older properties for
renovation and new ones off-plan,” says Alison.
“Both have delivered excellent capital appreciation.”
Another trend is for people to buy into property away
from the coast, to the less developed hinterland.
“You certainly get more square metres for your money,”
says Alison, “but you may be further from some of the
facilities. For many people there is the chance to integrate
into the natural Portuguese way of life which has its own
rhythm and charm.”
Beautiful, spacious property located at the
end of a cul-de-sac. Large private plot, well
landscaped with direct buggy access onto
the bordering fairway. The master suite
occupies the first floor and comprises of
bedroom, sitting room, dressing room and
an en suite bathroom with jacuzzi bath.
BUILT AREA: 360m2 excl. basement and terraces
PRICE: On application
REFERENCE: 31022QP
VILLA
QUINTA DO LAGO
“A stunning property. This handsome 2001
classical ‘L’ shaped villa has been meticulously
maintained and built to an exceptional
standard – there’s a large private terrace
overlooking the pool and golf course.
Quite outstanding!”
• Four bedroom suites
• Large master suite with office
• Cloakroom
• Open style living and dining room
• Spacious attractive fitted kitchen
• Basement games room
• Triple garage
• Heated pool
• Under-floor heating
• Air conditioning
• Sound system throughout
• Sold unfurnished
www.quintaproperty.com 59

A truly magnificent villa recently completed in
one of the most prestigious parts of Quinta do
Lago. This impressive property where no
expense has been spared, comprises of
interesting features such as high ceilings, large
doors and windows, inside wooden shutters
and very thick walls.
60
BUILT AREA: 500m 2
PRICE: On application
REFERENCE: 10019QP
VILLA
PARQUE ATLANTICO
• Five bedroom suites
• Large social areas
• Family room / office
• Large fitted kitchen with family dining area
• Basement with:
– Garage and wine cellar
– Multimedia room
– Further bedroom, en suite
– Separate sitting room with bar area
• Under-floor heating
• Air conditioning
• Sold unfurnished
Luxury villa with five bedrooms and heated
swimming pool in quiet location situated in
the renowned Pinheiros Altos golf and leisure
resort. Includes golf membership.
BUILT AREA: 500m 2
PRICE: On application
REFERENCE: 26013QP
VILLA
PINHEIROS ALTOS
• Five bedrooms
• Five bathrooms
• Sitting room
• Formal dining room
• TV room
• Kitchen with family dining area
• Heated outdoor pool
• Under-floor heating
• Air conditioning
• Basement with garage and games room
• Partly furnished
www.quintaproperty.com www.quintaproperty.com 61

A combination of elegance and charm
describes this well appointed, luxury family
villa set in a prime golf course location in
Quinta do Lago. This uniquely designed villa,
with the living areas encompassing a central
courtyard. The beautifully landscaped
gardens complement the large swimming
pool and views overlooking the lush fairways.
62
BUILT AREA: 438m2 excl. basement and terraces
PRICE: On application
REFERENCE: 10036QP
VILLA
PARQUE ATLÂNTICO
• Four en suite bedrooms
• Open plan living and dining room
• Day room and separate study
• Internal courtyard with water feature
• Under-floor heating
• Air conditioning
• Beautifully designed kitchen
• Alarm system
• Inviting outdoor covered barbecue
and dining area
Recently built Country Residence in the
style of an elegant Portuguese Manor
House in Vale Judeu. Nestled in the hills just
north of Vilamoura, this property offers its
residents the peace and tranquillity of
country living with the added benefit of
having various golf courses, the Marina and
shopping in close proximity.
BUILT AREA: 559m 2
PRICE: On application
REFERENCE: QRSQP
VILLA
LOULÉ COUNTRYSIDE
The property consists of a main house, all
on one level, and separate one bed en suite
guest house. The grounds are meticulously
designed and maintained – a jewel in the
Central Algarve.
• Impressive entrance hall with fireplace
• Large master suite consisting of:
– en suite bedroom and dressing room
– sitting room or fifth bedroom
• Two further bedroom suites
• Drawing room and dining room
• Cloakroom
• Spacious kitchen and large laundry
• Wonderful grounds, fully irrigated
• Property completely walled
with automatic gates
www.quintaproperty.com www.quintaproperty.com 63

64
“If your passion is golf, this spacious, three
bedroom, semi-detached townhouse with
plunge pool is in the location! Immaculately
kept, close to the Clubhouse and communal
swimming pool. Golf membership to
Pinheiros Altos Golf Club included.”
BUILT AREA: 178m 2
PRICE: On application
REFERENCE: 26135QP
TOWNHOUSE
PINHEIROS ALTOS
• Three bedrooms
• Two bathrooms (one en suite)
• Guest WC
• Living / dining room with fireplace
• Fully fitted kitchen
• Under-floor heating
• Air conditioning
• Plunge pool
• Patio with garden area
• Furnished
This traditional style villa in the heart of
Quinta do Lago would make a perfect family
residence or holiday home. Recently built to
a high specification and in excellent condition
the property is ready to move into.
BUILT AREA: 245m 2
PRICE: On application
REFERENCE: 26158QP
RESORT VILLA
MONTE DA QUINTA
The resort boasts many amenities amongst
which a comprehensive health spa and gym,
bar, restaurant and extensive facilities for
young children providing a safe and fun
environment for all the family
• Welcoming entrance hall
• Three bedroom suites
• Additional cloakroom
• Fully equipped kitchen
• Open style living and dining room
with fireplace
• Additional TV room or office
• Air conditioning
• Beautiful garden with swimming pool
www.quintaproperty.com www.quintaproperty.com 65

66
Encosta do Lago is located within the
Quinta do Lago estate, close to all
amenities: golden beach, water sports lake,
golf courses, riding centre, shops,
restaurants, etc.
BUILT AREA: 120m 2
PRICE: On application
REFERENCE: 50032QP
APARTMENT
ENCOSTA DO LAGO
On-site facilities include a large, palm-fringed
communal pool, a pool bar, gym, tennis
courts, restaurant and a health spa.
The apartments are low rise, set in colourful
landscaped gardens and finishings of the
highest quality.
• Second floor apartment
• Two bedrooms suites
• Cloakroom
• Storage
• Open living and dining room
• Fully equipped kitchen
• Air conditioning
• Terrace
• Beautifully furnished
Situated in the most secluded area of
Quinta do Lago, amongst pine trees, the
development of 94 luxury apartments is
surrounded by both the San Lorenzo golf
course and the fresh-water lake within the
Ria Formosa Nature Reserve.
BUILT AREA: 149m 2
PRICE: On application
REFERENCE: 54064QP
APARTMENT
SÃO LOURENÇO
Each apartment has superb views over the
lake or the golf course, and has access to
the communal swimming pool and tennis
courts on-site.
• Duplex apartment
• Three bedrooms
• Three bathrooms
• Living / dining room with log fireplace
• Designer kitchen
• Air conditioning
• Elegantly furnished
• Use of communal swimming pool
• Use of communal tennis courts
• Short walk to San Lorenzo golf course
and beach
www.quintaproperty.com www.quintaproperty.com 67

savills.com/abroad
Luxurious hillside
residence
Sitio dos Quartos, Algarve
Faro International Airport 20 km
6 en suite bedrooms galleried reception
room integral glass lift cinema windowed
pool 780 sq m
About 3,500 sq m
Guide €2.85 million
Spectacular villa with
100 metres golf frontage
Sotogrande, Southern Spain
main and guest house: 12 bedrooms
14 bathrooms pool tennis court integral
music/communications system 1,154 sq m
About 8,089 sq m
Price on application
Magnificent bastide
Chemin de Pigranel,
South of France
Nice Airport 20 km, Cannes 6 km
4 en suite bedrooms reception rooms
guest apartment summer living area pool
superb views 356 sq m
About 7,000 sq m
Guide €4.9 million
Savills International Residential
intpty@savills.com
020 7016 3740
I NTERNATIONAL F OCUS
*
A ‘maturing market’
*
We get the property expert's view on Quinta do Lago from Charles Weston-Baker,
Director of Savills International.
Quinta do Lago is, quite simply, Europe's Premier Golf Resort, and a real gem in my
opinion – with nothing to equal it in terms of quality and value for money.
The great thing about Quinta do Lago, is that it just seems to get better and more
sophisticated as it matures, which is not something one can say about many resorts
throughout the world. Many new resorts promise quality, facilities and service in the
beginning and then as the properties sell out, standards often drop and they quickly
appear run down. Not so in Quinta. Some 35 years since the visionary Andre Jordan
created the resort, the infrastructure, facilities and properties still look first class. The
property values reflect this and continue to be strong.
To me, Quinta do Lago is one of the world's top destinations. And I'm not alone in this
opinion. Several recent television and radio polls show that the Algarve is always in the
top five, if not the first or second best destinations, in terms of best foreign investment or
best golfing destinations. And if it's sunshine you want, it's well known that the Algarve
enjoys more sunshine than any other part of Europe.
Savills is delighted to be working with the premier agency covering the Quinta do Lago
area, Quinta Properties. Over the years they have proven themselves to offer the very best
in personal service, professionalism and – with their extensive experience in the top end
of the market – we are proud to have them as our chosen associates.
****
CHARLES WESTON-BAKER
DIRECTOR OF SAVILLS INTERNATIONAL RESIDENTIAL DEPARTMENT
West End 0044 (0)20 7016 3741 intpty@savills.com
Quinta Properties 69

EDITOR
Kerstin Fereirra Dias
EDITORIAL
Kerstin Fereirra Dias
Helga Hampton
Dennis Swing Greene
Tony Watts
Julian Williams
PHOTOGRAPHY
Toby Bromley, Loulé
00351 912 364123
DESIGN & PRODUCTION
Village Design, Bristol, UK
0044 (0)117 910 6050
ADVERTISERS
Edjõia 00351 289 392334
Dunas 00351 289 392602
Arquidois 00351 289 393639
Totta 0044 (0)20 7621 2660
Jyske Bank 00350 727782
FEATURED IN THIS ISSUE
Quinta passion
Jimmy Tarbuck
Beau McClellan, Ferro Design, 00351 919 808995
Gisela, 00351 919 905366
Donald Balfour, C&B, 00351 289 591671
Martyn Teutscher, 00351 918 106687
Paulo Assunção, Platinum Valet, 00351 969 277601
Hotel Quinta do Lago 00351 289 350350
Pinheiros Altos 00351 289 359900
Simon Perks,Totta, 0044 (0) 207 621 2660
Dennis Swing Greene, euroFINESCO, 00351 289 561333
Jyske Bank, 00350 72782
Charles Weston-Baker, Savills, 0044 (0) 207 016 3740
Quinta do Lago S.A.
The publishers accept no responsibility for any inaccuracies. Views expressed by editorial contributors are not necessarily those of the publishers.All details are correct at time of
going to press. Copyright Mills & Mills Lda (Quinta Properties). © 2006 Any reproduction of this magazine is strictly prohibited without the written permission of Mills & Mills Lda.
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Quinta Properties
time out…
eat
Pequeno Mundo – Rustic and very charming converted farmhouse,
excellent fine dining with great service. Tel: 00351 289 399866 –
closed Sundays. Gigis – See and be Seen. Quinta beach restaurant
with flair and some of the best grilled fish in the area. Start your meal
with one of their famous Caipirinhas! Tel: 00351 289 394481. Casa
Do Lago – If you don’t want to leave Quinta do Lago, this restaurant
is great for indoor and outdoor dining. Great views, food and service.
Tel: 00351 289 394911. 2 Passos – Another trendy and excellent
beach restaurant. Tel: 00351 289 396435. A Quinta – A favourite
among locals and visitors, for excellent cuisine and great value, make
sure you book in advance for lunch and dinner. Tel: 00351 289
393357. Vincent – With a hard-earned reputation for some of the
best food on the coast, Vincent and Wilhelmine know their business.
Worth a visit. Tel: 00351 289 399093. Paixanito – And now for
something completely different. Well worth a trip up to Loulé, this
cosy restaurant serves you Portuguese style tapas, and much much
more… also a superb selection of wines. Great service too. Tel:
00351 289 412775. Villa Joya – the only Michelin star in Portugal –
located just beyond Albufeira. Tel: 00351 289 591795
see
Sevilla – This vibrant Andalucian city just across the border in Spain is
closer than you think. Just 1.5 to 2 hours and you can be in a
different world. Sightseeing, shopping, dining and nightlife second to
none. Don’t miss the tapas bars and some Flamenco! If you want to
stay over night, try Hotel Casa Imperieis or the Don Alphonso 13th.
Lisbon – Portugal’s capital city has lots to offer. Check out our article
in this publication for details. Zoo Marine – A favourite with the
young and old, the Algarve’s answer to Seaworld has many
attractions to keep the family busy and it’s open all year. Ria Formosa
Bird Sanctuary – Go to the famous wooden bridge at the bottom of
Quinta Do Lago. Two wonderful nature trails start from there.
professionals in the area
Architects
Archi2 – Tel: 00351 289 397800
Jaime Coutinho – Tel: 00351 289 390930
Project Management
David Banting – Tel: 00351 289 398860
Dermott Forbes . Tel: 00351 289 351370
Property Management and Rentals
Wendy Davies Lda – Tel: 00351 289 392760
Pinheiros Altos Property Management – Tel: 00351 289 359900
Select Resorts (rentals only) – Tel: 0044 (0)1202 786490
shop
Quinta Shopping, QDL – Exclusive boutiques, cafés and restaurants
– a great place to see who else is in the area at the moment. You
are sure to meet them there! Forum Algarve on the road to Faro
and Algarve Shopping in Guia – Two shopping malls where you will
find many high street brands, a cinema complex and more fast food
than is good for you. There is also ten pin bowling at Algarve
Shopping. Open all day every day. Faro, old Town – quaint walking
streets with more boutiques and cafés – don’t miss Antonio Manuel
on the main avenida.
sport
Swim – The Atlantic!! – Stunning beaches, clean ocean water.
Lifeguards are on duty during holiday seasons. The lake in Quinta
do Lago – The calm salt water lake at Quinta – good for swimming,
and water sports. Sailing, pedalos, windsurfers and kayaks for rent.
Tel 00351 289 394929. Golf – The four well-known Championship
courses in Quinta do Lago. Quinta do Lago North & South Tel:
00351 390 700, San Lorenzo Tel: 00351 289 396522 and Pinheiros
Altos Tel: 00351 289 359910, and another 10 courses within 20
minute drive. Tennis – Jim Stewart Tennis Club in Quinta has good
facilities and a fun atmosphere. Telephone: 00351 289 398848.
Quinta do Lago Horse Riding Centre – Tel: 00351 289 396099
chill
Hotel Quinta do Lago Spa – Elegant new spa, with a wonderful
selection of treatments to relax or revive after a hard day on the
golf course, or late night out! They also have an attractive indoor
pool and Gym. Tel: 00351 289 350350. Lisa’s Beauty Salon – Go
and see Lisa at the Pinus Ria Hotel for a relaxing facial, a massage or
the best manicure or pedicure. Tel: 00351 289 359160 ext 213.
Other Useful Numbers:
National Emergency, Police and Ambulance and Fire brigade: 112
QDL Security and Fire Brigade: 00351 289 394494
Police Almancil: 00351 289 351530
QDL Medical Center: 00351 289 398411
Dentist, Quinta Shopping: 00351 289 392339
Vet Almancil: 00351 289 399910
Chemist Almancil: 00351 289 391519
Real Estate Agent, Quinta Properties, Quinta do Lago: 00351 289 396073
Taxi, Algarve – T: 00351 289 352525
British Consulate Portimão: 00351 282 490750
Irish Consulate: 00351 213 929440
Faro Airport: 00351 289 800800
TAP Faro: 00351 707 205700
BA Faro: 00351 289 818476
Computer/Internet connection Support: 00351 289 316017

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QUINTA DO LAGO • PORTUGAL
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Our business is to support you, to explain all the options, procedures and pitfalls and to carefully guide you through
the entire process from purchasing to selling a property in the Algarve.
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Estrada Pinheiros Altos, Quinta do Lago, 8135 Almancil, Portugal. Tel: +351 289 396 073/398 939.
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