Real Estate & Other News in Portugal from Propertyshowrooms.com

Portuguese lettings market 'outperforms sales'

Tue, 1 May 2012 00:00:00 GMT

The Portuguese property sales market remains weak, despite strong lettings activity, according to the Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey (PHMS).

Results from the March PHMS show the continued weakness of the sales market, across price, activity and expectations. While the national price balance and confidence index improved slightly, they still remain in negative territory.

Falling demand is one of the reasons cited behind the decline in property prices in Portugal.

By contrast, the lettings market has benefited from a lack of available finance, as households who cannot afford a mortgage are deciding to rent instead.

Josh Miller, senior economist at Rics, said rents were also declining, despite being more robust than the rest of the property market.

He stated: "[This] may be indicative of the current stresses on the household sector, reflected in a 15% unemployment rate."

The Financial Times recently reported that property prices are lower in central and northern Portugal, compared to those in the popular tourist areas further south and around Lisbon.

Portugal confirms opening of new 27-hole golf course

Mon, 13 Jun 2011 00:00:00 GMT

Golf tourism is an ever-expanding market, with demand for high-quality courses in desirable locations growing.

So news that the new Onyria Palmares Beach & Golf Resort, in Portugal’s Algarve, will be opened this week is sure to be welcomed by investors with property in the region.

The course, which was designed by American course architect Robert Trent Jones, is made up of 27 holes arranged around three loops of nine above the Bay of Lagos.

It could prompt a number of international investors to buy property in Portugal in order to cash in on the ever-expanding market.

Meanwhile, no less than 13 new golf courses are due to open in Morocco over the course of the next three years, the country's national tourism office has revealed.

Currently, there are a total of 27 courses located across the nation, with the expansion planned as part of its Vision 2010 and Vision 2020 schemes.

Britons seek employment overseas

Tue, 20 May 2008 00:00:00 GMT

The number of Britons who chose to emigrate abroad between 1997 and 2006 has been described as "probably the greatest period of emigration we've ever seen".

Jill Rutter, senior migration office at the Institute for Public Policy Research, told the Telegraph that this is partly due to the relatively new trend of retirees emigrating to countries.

However, she said it is also due to the "more internationalised labour market and workforce", which has made it easier for people to work abroad for a period.

A NatWest report on expatriates showed that of the 200,000 who left the country in 2006, two-thirds went to live abroad with four in ten of those professionals or managers.

The Conservative Party has claimed that the statistics reflect how many Britons are becoming disgruntled with high taxes and crime rates to the extent that many are leaving their home country.

The Office for National Statistics will release figures showing that 1.97 million Britons left the country in this period, a number thought to be comparable only with the exodus between 1911-14.

Prospective expats 'should go to Portugal'

Wed, 14 Nov 2007 00:00:00 GMT

Portugal's modern infrastructure makes it an ideal destination for Britons who are planning to move abroad, an expert has said.

Property author Sarah Wood stated that the country's advanced telecommunications network meant that people living there would be able to stay in touch with friends and relatives back home.

She added that expatriates would also be in easy reach of loved ones because there were lots of flights between Britain and Portugal.

Speaking to Homes Worldwide, Ms Wood said: "It is well connected to the UK via frequent flights and is a short jaunt – perfect for staying in touch with friends and family."

Portugal was also said to be a good destination for expats because it offered good weather for 12 months of the year, as well as a wide variety of leisure attractions.

This comes after Holiday-Rentals highlighted the popularity of the country among overseas property buyers from the UK.

Celebrities line up to promote Algarve

Mon, 15 Oct 2007 00:00:00 GMT

A number of Portuguese celebrities are in negotiations to participate in a new drive to boost the country's tourist trade.

According to the Portugal Resident, football manager Jose Mourinho is one of the people who is expected to be unveiled as one of the faces of the government campaign.

Since he is well known internationally after his successes with Chelsea and Porto, it is hoped that Mourinho can help encourage people to consider the country as a holiday destination.

Champion athlete Vanessa Fernandes was also named as a likely participant, as she is reported to be in negotiations with the country's tourist ministry.

The campaign will be centred around the popular Algarve resort and is expected to cost more than three million EUR.

If the scheme is successful in boosting visitor numbers, the property market is also likely to benefit from increased demand, thereby boosting investment prospects for foreign buyers.

A separate drive to enhance the country's holiday industry was recently announced by Portugal's tourist office, which said it would be working with their Spanish equivalent to draw people to both nations.

Expats in Portugal 'able to commute to Britain'

Thu, 11 Oct 2007 00:00:00 GMT

A British couple have spoken of their lifestyle decision to move to Portugal but remain employed in the UK.

Jo Wheeler and Richard Edwards said they felt life was becoming more stressful in the UK, prompting them to consider purchasing an overseas property and moving abroad.

The family decided to opt for their favourite holiday spot Portugal, as the country offered good weather, environment and a cheaper cost of living.

However, they also chose to stay in their original jobs back home, as they had both commuted between Cheshire and London anyway.

Ms Wheeler told the Telegraph that they both realised that flying out from Portugal to the UK took roughly the same amount of time as their UK commute, leading them to consider this as a viable move.

She said: "We are now international people and our children have far more physical freedom and fun in the environment than at home."

According to a study by Yorkshire Bank, 43 per cent of Britons are considering buying a place in the sun, mainly because of this year's wet summer in the UK.