Portuguese property market 'weathering economic downturn'

The Portuguese property market has performed better than many others in Europe during the global financial downturn, it has been claimed.

Rachel Lupiani, head of the Carlyle Real Estate acquisitions team for Spain and Portugal, told Property Week News that the real estate sector in Portugal is "very localised in character" and has weathered the credit crisis.

"The market repricing across all property sectors will offer some compelling opportunities," she added, although the Iberian country has not been as severely affected by recent economic events as certain areas of Europe.

Carlyle Group has formed a new partnership with Crimson Investment Management to expand its operations in the Portuguese market and work with its third European real estate fund.

Mike Sales, head of property investments at Henderson Global Investors, recently told Reuters that Portugal would be his number one choice to purchase a "vacation residence or city bolthole" and he was looking at land in the country.

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