Number of investors rising as confidence returns to Portuguese property market

The number of overseas property investors in the Portuguese real estate market is beginning to rise in line with the country's economic recovery, it has been claimed.

Overseas Property Professional (OPP) has reported that foreign buyers are returning to the market and replacing the influx of distressed bargain hunters that emerged last year.

Both developers and agents are reporting the rise, with the move being cited as an example of the returning confidence to the European destination.

David Patricio, director of developer Leisure Launch, said that typically the amount of money that investors were putting down as a deposit has gone up.

"This is money that was sitting in buyers' bank accounts but now they have a better sense of where the market is going they are ready to spend it," he told OPP.

"People are a lot more quality-conscious and the developers that have built high-spec are the ones that are selling."

Individuals looking to rent out property in the popular tourist destination may be interested in news that during 2009 Portugal hosted 11 million tourists and has a growth forecast of three per cent per year until 2017, themovechannel.com reported.

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