Loulé Town Council have announced their decision to lower the IRS tax, as well as the municipal tax on property for people living in the municipality area. This is the second town council in the Algarve to announce tax cuts for residents. In November, Alcoutim, near the border with Spain, also announced tax cuts which can now be decided by local authorities.

The existing Vila Sol Spa & Golf Resort in Vilamoura, Portugal in the Algarve, southern Portugal, will be rebranded to Marriott International’s sophisticated and stylish Renaissance hotel brand under a long-term management agreement reached with Vila Sol IV-Gestao Hoteleira, S.A., which is controlled by Panatlantica Holdings S.G.P. S.