Real Estate & Editors' Choice News in Portugal from Propertyshowrooms.com

Tips offered to investors buying property in Portugal

Wed, 2 Nov 2011 00:00:00 GMT

One real estate expert has offered some advice to prospective buyers considering purchasing a real estate in Portugal.

Managing director of Infinito Real Stephen Anderson highlighted some of the pitfalls that new investors can encounter when searching for a property abroad.

He stressed the importance of location, particularly if the home in question will be rented out to tourists, noting that it needs to be within easy reach of basic facilities.

However, Mr Anderson added that "in the main tourist spots in Portugal, you are never more than an hour from an airport" - something which may add to the appeal of buying a property in the country.

Another thing to bear in mind is re-selling, he stated. Potential buyers should consider nearby homes and decide whether the asset they are interested in will still be attractive in years to come.

Now may prove to be a good time to buy real estate in Portugal, as the latest Royal Institution of Chartered Surveyors (Rics)/Confidencial Imobiliario housing market survey revealed that a lack of demand is pushing prices lower.

Meanwhile, Rics senior economist Josh Miller explained that an oversupply of new homes is not an issue in Portugal, like it is in countries such as Spain, which should help boost the market once it begins to recover.

Portuguese property market 'still struggling'

Wed, 26 Oct 2011 00:00:00 GMT

Activity in the real estate sector in Portugal was not as negative in September as it was in August, new research has found.

The monthly Portuguese Housing Market Survey carried out by the Royal Institution of Chartered Surveyors (Rics) and Confidencial Imobiliario (Ci) found that despite a slight rise in activity across property markets, confidence declined.

Meanwhile, the indicator for the national price balance slipped from -59 to -65 over the course of the month.

Rics senior economist Josh Miller commented: "It is the demand side of the equation that is weighing down on prices in Portugal, with the double-digit unemployment rate feeding through to weaknesses in new buyer enquiries."

Ricardo Guimaraes, Ci spokesman, explained that an increase in the number of auctions of repossessed homes by banks is also forcing Portuguese property values lower.

Earlier this month, Knight Frank spokesperson Christian De Meillac told the Telegraph that areas such as the western Algarve are showing signs of recovery due to their "strong international appeal".

He noted that real estate prices here are still falling, but at a much slower rate than they were in 2009-10.

Algarve a cheaper Portuguese option for those wanting property abroad

Wed, 23 Jun 2010 00:00:00 GMT

Those considering investing in property abroad may want to consider the Algarve if searching for a more affordable option in Portugal.

Writing for the Daily Telegraph, Saundra Satterlee remarks that "Portugal's Algarve region boasts over 125 miles of sandy beaches, isolated coves, dramatic cliffs and one of the most unpolluted and healthy climates of continental Europe".

Meanwhile, keen golfers may also find a lot to enjoy about the location because of the vast number of courses on offer, while the chance to relax can extend further to an abundance of bars and fish restaurants.

Ms Satterlee was also quick to point out that the Algarve is already home to a number of UK individuals advancing their number of property investments, whether it be first-time buyers or those looking for somewhere to relax now that they have retired.

Alternatively, those with a little more cash readily available may want to search around the central coastline as "the further inland from the coast, the more reasonably priced the property," the writer notes is a general rule of thumb.

Manuel Puig, managing director of Jones Lang LaSalle Portugal, suggested earlier this year that the country's property market was well on the way to recovering from a disastrous 2009.

Accessibility contributing to Portugal's popularity

Fri, 30 Apr 2010 00:00:00 GMT

The accessibility of property in Portugal is contributing to its popularity as a real estate investment destination, it has been suggested.

Low prices, great accessibility and amenities such as an abundance of golf courses are contributing to the country's appeal as an investment destination, KBS Property Investments has claimed.

Harjinder Singh, marketing manager at the firm, explained that the drop in real estate value had made the weakness of the GBP "almost redundant", adding that investors are now beginning to return to the market.

"The main question that any person coming to us is asking themselves is, 'Am I getting as much property for my pound as I was getting three years ago?' And the answer is simply yes," Mr Singh explained.

"It is the accessibility of the country and the fact that lots of people go there on holiday that makes the market so popular."

Faro property searches could increase as a result of the news, with the destination well served with an international airport and a number of top-quality golf courses.

According to a report by Knight Frank, house prices in Portugal remained stable during 2009 with 0.2 per cent growth.

Portugal rebounds from property slump

Tue, 1 Sep 2009 00:00:00 GMT

Portugal has registered property price increases for the second quarter of 2009, according to new research.

The latest figures from the Global Property Guide show that the country exhibited both regional and national rises in the average house value over the last three months.

In the Algarve a two per cent increase was apparent, leading to the cost of one square metre going up to EUR 1,429 (GBP 1,259).

Across the country house prices grew by 1.01 per cent during Q2 of 2009, which is down 0.43 per cent on the last 12 months up to the second quarter of this year.

This is compared to a decline of 7.24 seen in the same period up to the second quarter of 2008.

Construction orders have leapt 12.3 per cent in the second three-month period of 2009.

These figures conflict with comments made by overseas property company director Martin Date, who told the Irish Independent that the cost of purchasing a house in Portugal has dropped significantly during the recession, particularly outside resort areas.

Portugal property 'is still in demand'

Thu, 6 Aug 2009 00:00:00 GMT

Demand for property in Portugal is remaining strong despite the present economic climate, it has been suggested.

Writing for the Independent, Laura Latham stated that the country has not experienced the problems and falls in value that have been seen in other counties, despite sales in the Algarve levelling off in recent months.

This, she explained, is due to the Portuguese government's decision to regulate the construction of cheap properties in order to avoid the market becoming oversupplied, along with the fact that the country's target market is high-end tourism.

Speaking to the news source, property expert Connie Vitto explained that the eastern Algarve is an ideal location for buyers, as it has quieter beaches and lower prices than other areas, as well as being located closer to Faro than the west coast.

The comments come after Nick Barnes of Knight Frank recently told the New York Times that property prices in Portugal have been rising steadily over the past six years.

Portugal property quality praised

Fri, 12 Jun 2009 00:00:00 GMT

Portugal's quality of property has been praised in a feature on the Algarve market.

The American Chronicle noted that the country has a high build quality, a factor it said "shouldn't be underestimated" by investors.

In addition to this, the news provider stated, the area provides consistent sunny weather and is easy to get to via Faro airport.

Another factor cited as favourable is the greater price stability enjoyed by Portugal in comparison with Spain.

"Its market has always been considered far more sane and stable than its rather volatile Iberian sibling," said the paper, which noted that the prices are higher by the sea and cheaper inland.

Overseas mortgage firm Conti recently listed Portugal among the countries where there has been an interest in buying from UK property investors recently, partly due to lower prices.

Another reason given was that the pound has been gaining in value against the euro, increasing the purchasing power of Britons.

New guide released for Portugal golf courses

Wed, 25 Feb 2009 00:00:00 GMT

A new online guide detailing Portugal's golf course offerings has been launched.

The Golf Portugal website features advice on the location of the country's best course offerings, including maps and contact details, as well as flight information and the opportunity to purchase tickets to Portuguese tournaments.

Golf enthusiasts who have been considering incorporating the sport into a visit to the country may now be more likely to visit following the launch of the new guide, a fact that could benefit property investors who have purchased homes in the country to let out to tourists.

A number of golfing events take place in Portugal throughout the year, including the grand final of the Bader Cup, which is organised by the Douglas Bader Foundation.

Last year's event, which took place in November at the Alamos Golf Club in Portimao, saw £20,000 raised for the charity, which provides support to those who require prosthetic limbs.

Roman history a feature of new Portugal resort

Thu, 11 Sep 2008 00:00:00 GMT

Troiaresort, a new housing development near Lisbon, has an added historical feature which could set it apart from other potential investment properties.

Sonae Turismo is the company behind the resort and it has hired an archaeological team to investigate and preserve Roman ruins that are common in the area, Property Wire reports.

Charles Roberts from IRG Portugal - the firm selling the development - stated that this slice of ancient Rome adds to many attractive features the area boasts.

"From historical sites to vineyards, and golden beaches to golf courses, the area has much to offer second home buyers," he told the news source.

He added that the Blue Coast area has seen an increase in popularity recently.

Another region of Portugal that may be attractive to property investors is the Algarve for its sporting connections, particularly as it hosts the PGA Portugal Masters Golf Tournament this October.

Property buyers advised to look at Portugal

Thu, 21 Aug 2008 00:00:00 GMT

Overseas property buyers have been encouraged to consider snapping up a residence in Portugal.

Gulf Weekly stated that the European country offers a very affordable and reliable market.

As a result, it has become the favoured destination for a significant number of foreign buyers, in particular those who want a holiday home abroad.

Portugal was also said to be an attractive destination for older people who wish to spend their retirement in another country.

Gulf Weekly commented: "Large numbers of retired Britons are choosing to make the most of Portugal's excellent climate and strong standard of living by relocating to the country."

The publication added that a wide variety of properties are available in Portugal, including off-plan residences, old farmhouses and luxury villas.

Portugal's popularity with second home buyers was recently highlighted by the Irish Independent, which said its lack of "unsightly overdevelopment" makes it preferable to many other established markets in Europe.