Property Investment in Portugal
Portuguese property market is one of the best in Europe
PORTUGAL is the third best country in Europe for investments in property. According to the UK TV show A Place in the Sun survey "20 Best Places to Make Money" an investor in property in the Algarve area could almost quadruple his money in just 10 years, with an expected 360 per cent return over that period of time.
The survey considered that Portugal was one of the cheapest places in the EU to live, adding that the country is recovering from a recession but has shown strong property growth for a couple of years now. According to the survey, the best country in Europe to invest in property is Romania with a 414 per cent rate of return, followed by Poland in second place, with a 393 per cent return.
Long-time favourite of the Brits, Spain is now in 19th place with an expected rate of return of 189 per cent, nearly half of the return expected for a 10-year property investment in Portugal. The survey explains that after having seen a veritable boom over the last 15 years, prospects for the future in many areas of Spain are not as bright as they may have been in the past. However, the country continues to be the most popular European destination for holidaymakers, so respectable growth is still on the cards for investors in this well established market.
Portugal, which was once considered the poorer neighbour, in many ways has now become the more distinguished partner, said the survey, adding that it is largely due to several prestigious golf developments in the Algarve, including Vale do Lobo and Vila Sol, as well as its relatively cheap cost of living and 300-plus days of sunshine every year.
Furthermore, the survey considered that build quality is high, property prices have grown a steady 10-15 per cent per annum since 2000, and there is a broad choice of property across the price range and country. Depending on what investors are looking for, the Algarve has its established areas with mature resorts, including Lagos, Vilamoura and Albufeira, each appealing to a different type of person and budget.
Golf is pointed out by A Place in the Sun as probably what the Algarve is best known for. Golf's huge and growing popularity is a main factor in Portugal's continued strong capital appreciation that is well into double figures annually.
Recent Article in EURONEWS - EUROPES LARGEST NEWSPAPER- No.1129
