The public authorities in Portugal, including the Regional Government of the Azores, actively support urban renovation and the reconstruction of old buildings, offering various incentive programs and tax breaks. For instance, in Faial Island’s Special Rehabilitation Zone, renovators can enjoy reduced VAT, property tax exemption for five years, transmission tax exemption if reconstruction begins within three years of property purchase, and deductible expenses from Income Tax. Similar programs exist for other towns in different islands.

Beyond local initiatives, direct forms of incentive are available at both the regional and national levels. The Regional Government of the Azores manages programs offering up to 75% subsidy on investments for urban rehabilitation, along with an 80% subsidy on banking spread. Additional programs subsidize costs for improving energy consumption or repairing termite damages.

At the national level, incentives from the Portuguese National Government include low-interest loans with grace periods of up to four years, in addition to the aforementioned tax benefits.

Despite potential challenges, the rehabilitation of old buildings in cities represents solid and lucrative investments. Historical city centers are highly sought after, and with existing incentive systems, they become attractive business opportunities. Apart from the direct return on property, investors contribute to a vibrant urban real estate market and the preservation of community heritage, creating a mutually beneficial scenario – a win-win endeavor.

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Building your dream home in Azores islands!

This is how Azores Properties can help when building your dream home. First of all you’ll need to choose an island to settle. We recommend Faial and Pico has they are close to each other and make part of a small economic hub called “Triangle Islands” which are Faial, Pico and São Jorge islands. This will enhance your experience in Azores due to the proximity and easy access to each island.

Let’s image you choose Faial island. The next step is buying a free land plot, its and easy task due to the low population density. The harder part is finding a plot where you can build as more than half of Faial’s land is classified either agricultural or natural protected areas. That’s where we step in, but how? With your delineation we’ll be able to find the perfect land for you to to start building your dream home in Azores. We can help you on construction too. As we are registered as a construction company as well.

Faial island advantage…

Faial besides being a beautiful island is the perfect hub to develop even more than a home. This is contributed by its strategic location and, has well due to its non-modern commercial sectors. New ideais can always fit in our society. A new business can easily flourish if its well planned and of course, adjusted to its reality. Faial’s climate is moderate not often being struck by tropical storms adding an extra pleasing feeling.

In our website we have a lot of free land plots some of them almost for a bargain! The norther size of Faial island is the richest in terms of free natural land, a few examples will be linked in the slider down below. Azores Properties its on the verge of modernizing house construction in Faial island. For a low price you can have a comfortable and modern home in Azores. Check out our proprieties. Contact us for a visit!

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