Guimaraes to be Portugal's Capital of Culture city

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.

Like this? Then share with your friends and colleagues!