GV Property investment in Portimao with Portugal Homes

Good afternoon.

I stumbled across the forum during some research and appreciate all the info so far.

Were a British married couple looking to gain citizenship after the temp residency period.

My wife and I have placed a deposit on a project in Portimao with Portugal Homes.
We’ve appointed Edge as our Immigration and property purchase lawyers.
We used Bordr.io for our NIF and Bank account which took 3 days and 2 weeks respectively. We we’re very impressed with this service.

Questions.

  • Has anyone else bought into this project? Im told all but 1 units are sold.
    Portugal Homes 280k Portimao
    Has anyone else worked with Portugal Homes (Ive seen 1 comment on the site that wasn’t positive but for reasons that wouldn’t put us off working with them)

Ive seen good feedback regarding Edge and had a recommendation from a friend.

Looking forward to hearing from you.

JMC

Hi,

I am abt to work with Portugal Homes on a different project. Would like to know your experience, any updates?

Thanks

Hi, I am in initial discussions with Portugal Homes and they have suggested the Portimao Hotel property. Would like to know what your experience has been so far?

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Hi there. Tbh it’s very early days of my experience with Portugal Homes, however they have been very responsive and thorough so far.
Since my first post in April our lawyers have received all documents relating to the sale of the property and we are signing contracts this week.
I’m sorry I can’t help further but we are really at the beginning of the journey.
The project we are buying into is a run down hotel/refurb project.
The refurb Work is due to start in sept this year and take approx 12 months to complete.
I think by sept next we should know if portugal homes are any good or not! :sweat_smile::sunglasses:

Please let me know how you progress.

Thank you for sharing, Jonathan. I just reserved a room with them, on a different hotel project, let’s hope everything goes smoothly. Do you mind me asking which lawyer/firm did you decide to go with and if you would recommend. Many thanks.

Thanks for the information- very helpful. I am speaking to a number of service providers at the moment so not sure who I end up using.

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No problem.

We have a friend that have used and highly recommended Edge International. Coincidently PH also recommended Edge and have worked with them frequently.
They are more expensive than most firms but I’m assured by my friends that have done a similar transaction that they are very efficient- which is a priority for us.

hi Jonathan,

I have been in the process with Edge for 2 months now.

I am now in the agreement phase for a hotel project. 280k.

How has your experience been with Portugal Homes so far? What phase are you in at the moment?

I have a concern with the management agreement draft, which I found has a clause that puts all maintenance/repair of the hotel rooms on me. I found that unfair given that I would not be earning any revenue/profit the operations of the rooms, yet I would need to pay for any repairs as and when determined by the management company. So I am at a juncture with this project and its management agreement.

I hope to hear from you soon. All the best!

Sal

Hi Sal,

Thanks for reaching out to me.

As you know we aren’t supposed to discuss our individual contracts but if you tell me which clause of which contract/annex you refer ill check. I’m certain it wasn’t the case in my paper work.

We have paid the 280K and await our sales deed (takes around 5 weeks)
meanwhile we are having our visa application started and getting our uk docs certified in the uk before we submit them to our lawyers. (Edge int)

Let me know about the clause.

Regards.

Jonathan.

hi Jonathan, thank you for reply promptly. I have sent you two DMs.

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