Real Estate & Rental & Lettings News in Portugal from Propertyshowrooms.com

Madeira 'a popular choice' for property buyers in Portugal

Wed, 11 Apr 2012 00:00:00 GMT

Now is a good time to consider purchasing a property on the Portuguese island of Madeira, with rising tourist numbers helping to boost the rental market.

Speaking to the Financial Times, Linda Beaney, from Beaney Pearce, a firm that markets one of the villa developments on the island, explained there is a robust real estate sector in Madeira at present.

"The sales market in Madeira has continued at a steady pace over the past three years," she stated. Ms Beaney added although the number of British buyers has fallen slightly, investors from Brazil, Germany, South Africa and Scandinavia have expressed a growing interest in Portuguese property on the island.

According to the most recent figures released by the Instituto Nacional de Estatistica, Madeira was one of the only regions in the country where the number of overnight stays by tourists increased in 2011, compared to 2010.

The island also recorded the highest occupancy rate in the nation for its holiday accommodation in the same period, which may be a good sign for those hoping to rent out property in Madeira.

Demand for rental properties in Portugal climbs

Fri, 2 Dec 2011 00:00:00 GMT

An increasing number of households in Portugal are turning to rented accommodation as they are unable to buy a home, it has been discovered.

The Royal Institution of Chartered Surveyors (Rics)/Ci Housing Market Survey for October revealed that transactions in the lettings sector are increasing.

It is the first time that the study has looked at the rental sector in the country, but the findings suggest that demand for such property is likely to climb.

Investors who have funds available to purchase real estate in Portugal may therefore have an opportunity to capitalise on these changes.

Josh Miller, Rics senior economist, explained that a lack of mortgage finance is pushing more people into rented houses and apartments.

"Given the deteriorating macroeconomic backdrop and tightening in credit conditions that is already underway, the lettings market is therefore likely to continue experiencing high volumes of activity in the near term," he stated.

There may also be opportunities for investors in the holiday rentals sector if sun and sea product manager at the Algarve Promotion Bureau Hugo Nascimento is to be believed.

He recently claimed that the strong appeal of the Algarve region and increasing tourist numbers make it a good place to buy property.

Short-term rental 'more profitable' in Portugal

Tue, 11 Jan 2011 00:00:00 GMT

Overseas investors looking to boost their property portfolios are increasingly finding that short-term rental is better than long-term for generating profits

At least this is according to experts at Infinito Real who believe that the recent economic troubles have forced many property owners to rent out holiday homes rather than keep them for themselves.

The emergence of a growing number of low cost flights from most major European cities is also helping to strengthen this trend.

Stephen Anderson, managing director of Infinito Real in Portugal believes the short-term rental market presents buyers with a fantastic opportunity to generate income to help with the running costs of an overseas investment.

"In an area like Portugal, especially the Algarve, rentals are instrumental in most people's decision making when purchasing a property. However, my advice to those looking to purchase an overseas buy-to-let or considering renting out their existing property, is to stick to short terms lets," he explained.

The news may lead to an increase in the number of buyers looking to purchase property in Portugal, with the rental market likely to boom in the coming years.

Meanwhile, the tourism board in the Algarve recently claimed that less well-known areas in the region are likely to grow in popularity this year, with travellers looking for back-to-basics holiday packages.

Portugal property market 'boosted by tourism'

Mon, 13 Dec 2010 00:00:00 GMT

New figures released by the Bank of Portugal have highlighted the strength of the tourism industry in the country.

Individuals with buy-to-let property in Portugal are sure to be pleased by news that during the first nine months of the year, the country's tourism market has generated almost €6 billion in revenue.

The figure is a significant hike on the same period of 2008 and 2009, the bank said.

Stephen Anderson, managing director of the Portuguese property investment group Infinito Real, said: "The past twelve months has not been as bad as the media suggests.

"Going into 2010, the market was filled with uncertainty which was evident from the numbers of would-be buyers who either postponed their viewing trips or who just came over to get a feel for what was happening without any firm decision to commit to a purchase."

The real estate expert explained that while the first half of the year proved unproductive in terms of real estate sales, the "latter half saw an upturn in clients".

Countryside property is growing in popularity in Portugal

Wed, 9 Jun 2010 00:00:00 GMT

An increasing number of real estate investors in Portugal are looking for homes in northern and central countryside regions, Overseas Property Professional has reported.

According to Jose Luis Borges das Neves, of the Beiraneves property agency, more buyers are looking to move away from the tourist centres of the country and are being drawn to quieter destinations.

"Most people choose to buy existing houses with character … in areas where there are no large new developments," he told the news provider.

Mr Borges das Neves explained that buyers were looking for "destinations where they can live better in a temperate climate and live cheaper than the Algarve and Silver coasts".

The news could lead to an increase in the number of people looking for property for sale in Leiria, with the region boasting some more rural destinations.

KBS Property Investments recently claimed that Portugal's popularity could be attributed to its excellent travel links and great local amenities.

In addition, low prices and an abundance of golf courses are contributing to the country's appeal as an investment destination.

Algarve is a 'good investment'

Thu, 25 Mar 2010 00:00:00 GMT

The Algarve still represents a good investment prospect for many Brits looking to buy European property, it has been suggested.

An article in British daily newspaper the Daily Mail has highlighted the positive aspects of investment in the country, with good weather, attractive beaches and "the best golf courses in Europe" contributing towards its appeal.

Despite the current economic climate, high-end resorts have seen "little downward movement", property company Knight Frank told the paper.

"The key to the area's success is its track record. It's survived a downturn before and has the right ingredients to tempt buyers - beaches that don't get overcrowded, a 20-minute transfer from Faro airport and first-class resorts," the news provider reported.

Furthermore, earlier this year investment consultancy Property Frontiers claimed that the Portuguese property market was a safer option than neighbouring Spain.

It stated that currently buyers tended to be adverse from taking risks and as such were moving from the Spanish market to take advantage of rising prices and the growing economy.

Algarve 'offering best European golf prospects'

Tue, 10 Nov 2009 00:00:00 GMT

The Algarve offers the best golf property prospects in Europe, it has been suggested.

In a feature on the buying of homes on courses, the Daily Mail noted that government figures show that the UK demographic most likely to buy overseas property is affluent and in its 50s - which matches the profile of those who play golf the most.

According to the paper, the Algarve is the "undisputed" prime area in Europe for golfing properties.

David Cox from investment firm Property Frontiers noted that half of Portugal's courses are in the region and told the publication that this factor had led to "a price appreciation of ten per cent (per annum) in recent years".

Portugal's overall property market prospects are likely to improve in the coming months, it has been suggested.

Overseas investment magazine BuyAssociation noted recently that professionals working in the sector are optimistic due to the fact that the country is now out of recession.

Portugal prices reported falling

Tue, 18 Aug 2009 00:00:00 GMT

Property in Portugal has fallen substantially in the recession, particularly outside resort areas, an expert has said.

Director of overseas property company Oceanico Martin Date told the Irish Independent that the cost of buying homes in the country has fallen due to Irish and other investors being less prominent during the downturn.

He stated that resort areas have seen a five per cent drop, while in other parts of the country the decline has been 25 to 30 per cent.

Such price falls may interest those looking to invest now, particularly as new figures have shown that Portugal is no longer in recession.

Last week, the country revealed that gross domestic product increased by 0.3 per cent in the second quarter of 2009, bringing its economic contraction to an end.

News of the fall came in the same week that France and Germany revealed the same level of increase in their economic outputs.

Algarve tipped as ideal for golfers

Thu, 16 Jul 2009 00:00:00 GMT

Portugal is the best place to own property for buyers who like golf, it has been stated.

Estate agent Unique Living has said that the Algarve in particular is a favoured destination, with managing director of the firm Serge Cowan remarking: "Easy accessibility from the UK with a short flight time of around two hours and a wide choice of carriers makes the Algarve a natural home for golfers."

He added that prices are as competitive as they have ever been, meaning that there are good prospects for investors to see their values rise over the next few years.

The company noted that Portugal has staged a number of major tournaments down the years, with 59 European Tour events due to have been held there by the end of the season, while the country is one of six bidding to host the 2018 Ryder Cup.

Earlier this month head of the Carlyle Real Estate acquisitions team for Spain and Portugal Rachel Lupiani told Property Week News the country's market had coped well with the credit crunch.

Angelina Jolie linked with Portuguese property

Mon, 1 Jun 2009 00:00:00 GMT

Actress Angelina Jolie has been linked with the purchase of a new home in Portugal.

The Changeling star, who is currently raising six children with partner Brad Pitt in the US, is reportedly seeking a beachfront property on the Algarve.

An un-named contact of the couple told reporters: "She loves Portugal and wants to raise her kids there. She's looking in a quaint village called Lagos. She wants to move there ASAP."

Such a move could benefit the property market in Portugal by raising its profile, particularly its facilities for children if the couple are raising their family in the country.

Portugal is one of several eurozone seeing increased interest from Britons thanks to lower prices and a strengthening pound, it has been stated.

Operations director for overseas mortgage firm Conti Clare Nessling said this has led to a 20 per cent rise in enquiries for mortgages in the eurozone in recent weeks.

Guimaraes to be Portugal's Capital of Culture city

Mon, 18 May 2009 00:00:00 GMT

Guimaraes in northern Portugal is to hold the title of European Capital of Culture in 2012, it has been announced.

The European Union has decided the city will share the title for that year, alongside Maribor in Slovenia.

Such a development may prompt those thinking of investing in property in Portugal to consider the city, the profile of which will be raised by the event and may attract extra investment and tourism as a result.

As well as those who buy there having the prospect of being able to rent out homes to visitors over the course of 2012, the evidence of Liverpool's experience as Capital of Culture suggests prices may perform better than elsewhere.

Research by Halifax found that in the five years after Liverpool was awarded the status, prices in the city rose by 76 per cent, more than any of the five unsuccessful British candidate cities.

The highest increase over the same period by any of these was 64 per cent in Newcastle-Gateshead.

Porto 'offers good rental opportunities'

Mon, 22 Sep 2008 00:00:00 GMT

Those looking to invest in property in Portugal for rental purposes may be able to find some good prospects in the city of Porto, it has been suggested.

Writing for Nubricks.com, John Moore of the Move Channel said the city is a prominent location both as centre of business and industry and also as a tourist destination, with the main attraction being Port wine.

He said: "In addition to its tourism trade, Porto attracts many foreigners for business and educational reasons, making it a good location for rentals on a long term basis."

Mr Moore also said that prices have recently been falling in Porto, which may offer more bargains for British buyers.

A study by real estate newsletter Confidencial Imobiliario has also found this to be the case in the Algarve, although the prices there remain the highest in the country, reports The Portugal Resident.

Portugal 'seeing tourist growth surge'

Tue, 2 Sep 2008 00:00:00 GMT

Portugal has seen a major surge in tourist numbers in recent years, it has been stated.

In a development that may interest those looking at investing in Portugal's property market for buy-to-let purposes, figures from the World Trade Organisation have indicated a ten per cent rise in visitor numbers in the country in 2007, with a further increase expected this year, Homes Worldwide reports.

The managing director of property firm Owner Invest Mark Bingham told the portal: "Portugal has proved to be an extremely popular tourist destination in recent years. The increase in visitors has been pivotal in the growing demands on the Portuguese property market."

With its extensive coastline, Portugal may particularly offer good opportunities for those investing in waterfront properties.

Last month, Gulf Times suggested that the best locations included seaside villages such as Carvoeiro in the Algarve, which has grown from a small fishing village into a popular resort in recent decades.

Two new luxury golf developments to be built on Madeira

Thu, 7 Aug 2008 00:00:00 GMT

Plans for two new golf courses and luxury property developments on Madeira are reportedly close to being finalised, offering a "good property investment opportunity". A similar scheme is also being planned on the neighbouring island of Porto Santo.

Property investors will be able to choose from two new luxury golf developments on Madeira, according to Homesoverseas.co.uk. Work is due to commence on the schemes, the Calheta Golf Course in the Ponta do Pargo region and another in the Sao Vicente area further north, next year. The developments should be completed by 2011

"Golf is a great catalyst for attracting high net worth individuals and boosting local infrastructure facilities. Expect properties located in and around these prospective courses to appreciate over the next few years - a potentially good property investment opportunity," writes Homesoverseas.co.uk.

Details of the luxury property developments have not yet been made public, but it is claimed that local authorities are buying up the land adjacent to the Calheta Golf Course with the aim of building a major residential development.

Nick Faldo will be behind the Calheta Golf Course and it is thought that Severiano Ballesteros will put his name to the course in the Sao Vicente area as well as another on neighbouring Porto Santo, which is due to be completed in the same time frame.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Investing abroad could be lucrative

Thu, 15 May 2008 00:00:00 GMT

British investors have been told that the current downturn in the property market could make a foreign investment a better option.

The Telegraph stated that house prices in the UK are currently falling and are not likely to increase significantly in the foreseeable future.

By contrast, it stated that many foreign countries are seeing considerable growth in their housing markets, which means that properties are appreciating in value.

As some of these places also offer much cheaper housing than the UK, investors could be able to snap up a cheap property and sell it on at a profit.

This means that many of those who have been priced out of the domestic housing market could find themselves able to afford a deposit for a British property.

The Telegraph commented: "UK property prices show no signs of lifting in the near future - quicker gains may be found by investing overseas."

Meanwhile, the Sunday Mirror has reported that more and more British first-time buyers are choosing to enter foreign property markets.

According to the newspaper, many have been supplementing their wealth by letting their residence out to tenants.

Algarve attracts British tourists

Tue, 29 Apr 2008 00:00:00 GMT

Owners of rental accommodation in the Algarve could be set to see strong demand this summer, experts have suggested.

According to Holidays-Direct, the Portuguese tourist hotspot has attracted considerable interest from British holidaymakers in the last few months.

The online travel agency said that during the year to date, it has been the subject of the most searches on its website.

This has prompted it to predict that lots of British holidaymakers will flock to the region for their summer holidays this year.

As a result, owners of buy-to-let property in the Algarve should benefit from higher occupancy rates and rental returns.

Jon Pearce, spokesperson for Holidays-Direct, commented: "With some of Europe's most attractive and cleanest beaches, exceptional landscapes and year round sunshine, the Algarve is quite rightly a holiday hotspot for British tourists looking for some sun."

He added that the region is proving to be popular because it offers lots of leisure attractions at a "relatively cheap" price.

According to ShelterOffshore.com, Portugal offers both year-round sunshine and a strong tourist trade.

Rental demand set to grow in Algarve

Wed, 23 Apr 2008 00:00:00 GMT

Thousands of people are set to take advantage of new flights between Britain and the Algarve, an airline has stated.

Earlier this week, budget carrier easyJet began operating its new service from Glasgow to the region's capital Faro.

The airline has predicted that during the next 12 months, it will transport about 16,000 leisure travellers on this route.

This means that rental accommodation across the Algarve is likely to be in much higher demand this year, a development which could prove highly lucrative for those who own property in the area.

David Osborne, UK general manager at easyJet, commented: "This direct route to Faro has already proven a popular choice and will offer all Scots the opportunity to experience the glorious Algarve from their local airport."

This comes after official figures revealed that the European country attracted 23 million holidaymakers during 2007 - an increase of five per cent on the previous year.

Portugal offers alternative year-round returns

Tue, 26 Feb 2008 00:00:00 GMT

Buying property in Portugal can offer an investor returns over the entire year, according to the director of shelteroffshore.com.

Rhiannon Williams, director of the overseas property website, states that in addition to tourism rental revenue streams, Portugal also offers out of season opportunities.

Ms Williams explains the country has a "year round tourism market because of the Algarve's out of season popularity with golf tourists".

She also adds that "this can mean you get a better rental yield in Portugal even if you target the highest priced property locations".

The director's comments follow research from NatWest International Personal Banking which revealed that 87 per cent of expatriates are happier living abroad than they initially expected to be.

The Quality of Life Report, which was carried out by the Centre for Future Studies thinktank and questioned 1,114 British expatriates, also revealed that 81 per cent of ex-pats have a "greater sense of well-being".

Silver and Blue Coasts 'Cheaper Than the Rest of Portugal'

Tue, 29 Jan 2008 00:00:00 GMT

Portugal's Silver and Blue Coasts could be good spots for potential purchasers of investment property who are priced out of other parts of the country, according to experts.

The Foreign Property Buyer website said that house prices in the region were set to grow significantly as a result of increased demand for rental accommodation.

This was attributed to the creation of a new airport in Alcochete, which is scheduled to open in 2012.

Foreign Property Buyer stated that the improved accessibility and its effect on tourism could make the area "perfect" for overseas investors.

Furthermore, it said the region was much more affordable than other parts of Portugal, such as the Algarve.

Commenting on its investment potential, the website remarked: "The Blue and Silver Coasts offer an attractive alternative for overseas property investors with plenty of good opportunities to be found."

Earlier this month, the area was recommended to foreign property buyers by SaveBorrowSpend, which said it offered beautiful scenery and bargain house prices.

Poor weather drives Irish overseas

Thu, 24 Jan 2008 00:00:00 GMT

The tourist trade in countries such as Spain and Portugal is benefiting from concerns over the Irish weather.

Last summer, both Ireland and the UK were lashed by torrential rain which led to massive demand for last-minute trips abroad.

However, the level of demand exceeded supply, resulting in many people being forced to stay at home and endure the wet conditions.

According to the Meath Chronicle, consumers in Ireland are taking no chances this year and are not waiting to book cheap deals at the last minute, in case history repeats itself.

The newspaper spoke to travel firms across the county of Meath and learned that summer holidays in places such as Portugal and Spain were being booked up early.

Other countries were also found to be popular choices among Irish holidaymakers, including Dubai, Bulgaria and South Africa.

Commenting on this trend, the Meath Chronicle said: "Last summer's dismal weather and an equally miserable January has led to a rush of early holiday bookings."

Dubai was recently described by Cheapflights.co.uk as a location that offered a cure for the "January blues".

Irish plan to escape rain next summer

Mon, 31 Dec 2007 00:00:00 GMT

The torrential rain that hit Ireland during the summer has prompted many to plan their summer holidays earlier than usual.

According to Budget Travel, 2007's downpours caused such demand for last-minute breaks that there was not enough room to cater for everybody.

Therefore, many Irish consumers are now apparently trying to beat the rush in order to avoid missing out on seeing the sun this summer.

Head of marketing at Budget Travel Clem Walshe said that Portugal was proving to be an especially popular destination, particularly the Algarve region.

Speaking to the Irish Independent, he commented: "People definitely got caught out last summer.

"We have already seen clear evidence of people saying 'I'm not going to get caught out again'."

This comes after Irish holiday firm Limerick Travel reported an increase in the number of people heading abroad for Christmas.

Company director Tony Brazil told the Limerick Post that many of these were second home owners with properties in destinations that offered sunshine during the winter months.

Overseas property buyers 'should get expert advice'

Thu, 6 Sep 2007 00:00:00 GMT

Overseas property buyers are more likely to get a good deal if they seek independent advice first, according to an expert.

Clive Statham, managing director of Anglo Portuguese Mortgage, said independent advisers were familiar with the various mortgage products available in different markets and could guide investors through the best options.

He stated that it was essential for people who chose to take out a mortgage to see an external adviser not directly linked to the estate agent and bank, as they could look around and find the most suitable deal.

Speaking to Homes Worldwide, Mr Statham added that if people spoke to specialists in particular countries, they could benefit from their local expertise.

He commented: "An independent advisor will be aware of the clients' needs and will be able to discuss these with a variety of banks to find the most suitable product."

Recently, Jackson International urged investors to be diligent when buying abroad and to act the same they would when buying a house in the UK.

Portugal has 'investment property potential'

Tue, 17 Jul 2007 00:00:00 GMT

The Portuguese property market has strong investment potential for foreign buyers according to experts at Holidaylettings.co.uk, suggesting that investors looking for lucrative opportunities could do well to focus on the country in the foreseeable future.

Traditional favourites such as France and Spain are being challenged by a number of emerging hotspots, of which Portugal is believed to be a forerunner.

Figures from Holidaylettings.co.uk reveal that Portugal is among the top five countries adding the largest number of new holiday homes to the market over the past year, indicative of continued strong demand.

Buy-to-let investors can subsequently expect strong rental demand and appreciating property values ahead, as demand for holiday homes continues to grow.

It has been found that Portugal has had the strongest holiday home growth in western Europe during the past year. Ross Elder of Holidaylettings.co.uk highlights demand as key to future developments.

"It is vital for investors that there is a sufficient tourism draw and affordable flights are available in order for holidaymakers to be drawn to these areas," he stated.

Nonetheless, HiFX highlights Spain as the top destination for UK buyers abroad, as it continues to attract a high level of investment activity.