Real Estate & Property Investment News in Portugal from Propertyshowrooms.com

Investors 'finding alternative ways' to fund Portugal property purchases

Fri, 3 Feb 2012 00:00:00 GMT

Buying a property in Portugal has become more difficult recently, thanks to stricter lending conditions imposed by the country's banks.

However, managing director of Portuguese agent Infinito Real Stephen Anderson noted investors are increasingly finding other avenues to raise money for their purchases.

"Recently, we have seen a few savvy developers offering an alternative method of funding to avoid the stumbling block of acquiring finance from the bank, thus helping to get the property market moving," he stated.

Mr Anderson went on to explain such deals usually involve a 30 per cent deposit from the buyer, with the remainder of the property's value being paid off over a period of years agreed by both parties.

He added the buyer can then use the flat or house as they wish, either living there themselves or renting it out.

Last month, a report published by the Royal Institution of Chartered Surveyors (Rics) indicated there are opportunities for investors in the Portuguese lettings market.

According to the organisation, the restrictions on lending are forcing more people to move into rented accommodation, with Rics senior economist Josh Miller commenting the sector is exhibiting "robust demand and strong transaction expectations".

Opportunities for investors in Portuguese lettings market?

Wed, 25 Jan 2012 00:00:00 GMT

The lettings market in Portugal appears to be benefiting from restricted lending to potential buyers, as more people are turning to rentals rather than purchasing their own home.

This is the finding of the latest Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey for December 2011.

According to the research, the demand, supply and the price of homes in Portugal have all continued to fall, while the rental market has grown thanks to the difficulties faced by domestic buyers in raising finance to purchase a property.

However, this has created opportunities for investors, who are in a position to take advantage of the strength in the rental sector and pick up real estate assets at lower prices, the report added.

Senior economist at Rics Josh Miller commented: "The weak labour market and uncertain economic outlook in Portugal is forcing potential homeowners into the lettings market, which is showing robust demand and strong transaction expectations."

Earlier this month, Cushman & Wakefield predicted there will be little change in Portuguese real estate in 2012, although noted there is likely to be a higher transaction volume over the next 12 months due to forced sales and banks looking to offload some of their property stock.

Portugal property sales see fall in demand

Wed, 4 Jan 2012 00:00:00 GMT

Property for sale in Portugal has seen a fall in demand, prices and supply, the November Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey (PHMS) has revealed.

The survey showed that November experienced the fastest decline in sales activity since the report began in September 2010.

In particular, the survey notes that new property in Portugal is undergoing a change, with prices falling more rapidly than they were prior to September.

During November, prices for new homes dropped faster than those for existing domiciles.

Commenting on the findings, Rics senior economist Josh Miller states: "The lettings market is likely to continue experiencing high volumes of activity for the time being."

Indeed, he explains that as sales volumes are declining, lettings are increasing, with tenant demand growing as more people fail to qualify for mortgages.

This trend was previously seen in October's PHMS, which suggested that demand for lettings would increase due to consumers' lack of mortgage finance.

Investors planning to purchase Lisboa property or residential buildings elsewhere in Portugal may therefore have the opportunity to take advantage of these market developments.

Higher tourist numbers boost Algarve property market

Tue, 6 Dec 2011 00:00:00 GMT

There has been a marked increase in the number of people enquiring about buying a property in the Algarve region of Portugal, it has been noted.

Infinito Real revealed that it experienced a surge in interest among investors who are keen to pick up real estate here during October and November, with a high number of viewings also scheduled for December.

Managing director of the firm Stephen Anderson commented: "It would seem that, aside from the typical investor, other visiting tourists are starting to realise the rental potential over here and are considering buy-to-let over other forms of investment."

There are further benefits for investors who take out a mortgage to purchase a property in Portugal, he added.

Among them is access to high-interest savings accounts - with rates of up to five per cent in some cases - which are only offered to customers who have a home loan with the bank.

Meanwhile, the Royal Institution of Chartered Surveyors/Ci Portuguese Housing Market Survey for October recently found that the domestic rental market in the nation is growing, with a sharp rise in demand for properties to let reported in the country.

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.

Tourism in Portugal 'may increase appeal of its property market'

Mon, 14 Nov 2011 00:00:00 GMT

Strong tourism figures could help encourage investors to buy real estate in Portugal, with one expert noting that residential tourism in the country is set to grow.

Hugo Nascimento, sun and sea product manager at the Algarve Promotion Bureau, explained that the region has much to offer holidaymakers, including golf courses, warm weather and a new racing track.

Property investors may therefore be keen to seek out assets in close proximity to these amenities.

Mr Nascimento commented: "A lot of people from Britain and Ireland are buying property overseas, mainly in Portugal. So I think it's also a good deal to buy houses in Portugal right now."

The September Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey revealed that the Algarve is faring better than the rest of the country, but that confidence in the sector remains in negative territory.

However, Rics senior economist Josh Miller noted that, unlike in Spain, there is not a large oversupply of new properties weighing the market down, which should result in a quicker recovery once conditions in the real estate sector improve.

Tips offered to investors buying property in Portugal

Wed, 2 Nov 2011 00:00:00 GMT

One real estate expert has offered some advice to prospective buyers considering purchasing a real estate in Portugal.

Managing director of Infinito Real Stephen Anderson highlighted some of the pitfalls that new investors can encounter when searching for a property abroad.

He stressed the importance of location, particularly if the home in question will be rented out to tourists, noting that it needs to be within easy reach of basic facilities.

However, Mr Anderson added that "in the main tourist spots in Portugal, you are never more than an hour from an airport" - something which may add to the appeal of buying a property in the country.

Another thing to bear in mind is re-selling, he stated. Potential buyers should consider nearby homes and decide whether the asset they are interested in will still be attractive in years to come.

Now may prove to be a good time to buy real estate in Portugal, as the latest Royal Institution of Chartered Surveyors (Rics)/Confidencial Imobiliario housing market survey revealed that a lack of demand is pushing prices lower.

Meanwhile, Rics senior economist Josh Miller explained that an oversupply of new homes is not an issue in Portugal, like it is in countries such as Spain, which should help boost the market once it begins to recover.

Portuguese property market 'still struggling'

Wed, 26 Oct 2011 00:00:00 GMT

Activity in the real estate sector in Portugal was not as negative in September as it was in August, new research has found.

The monthly Portuguese Housing Market Survey carried out by the Royal Institution of Chartered Surveyors (Rics) and Confidencial Imobiliario (Ci) found that despite a slight rise in activity across property markets, confidence declined.

Meanwhile, the indicator for the national price balance slipped from -59 to -65 over the course of the month.

Rics senior economist Josh Miller commented: "It is the demand side of the equation that is weighing down on prices in Portugal, with the double-digit unemployment rate feeding through to weaknesses in new buyer enquiries."

Ricardo Guimaraes, Ci spokesman, explained that an increase in the number of auctions of repossessed homes by banks is also forcing Portuguese property values lower.

Earlier this month, Knight Frank spokesperson Christian De Meillac told the Telegraph that areas such as the western Algarve are showing signs of recovery due to their "strong international appeal".

He noted that real estate prices here are still falling, but at a much slower rate than they were in 2009-10.

Falling demand hits Portugal property

Wed, 28 Sep 2011 00:00:00 GMT

Demand for houses in Portugal fell in August, newly-released figures have shown.

The latest Royal Institution of Chartered Surveyors (Rics)/Ci Portuguese Housing Market Survey found that conditions have deteriorated when compared to July.

Both the National Activity and National Confidence indices dropped in the month, by eight and two points respectively to minus 33 and minus 51.

Developers are not being treated as harshly in terms of price falls as residential agents.

Rics senior economist Josh Miller said: "In Portugal, it is the demand side of the equation that is weighing down on prices."

He continued by saying that oversupply is not an issue, unlike in other countries such as Ireland and Spain.

Mr Miller added that once the economy begins to recover Portugal will not have to worry about the "residential inventory issue".

Managing director at Infinito Real Stephen Anderson recently stated that the Portugal residential market is beginning to bounce back, particularly in the Algarve.

Portuguese property market 'on the road to recovery'

Fri, 23 Sep 2011 00:00:00 GMT

The Portuguese property market is beginning its recovery, with one expert in the sector noting that the Algarve in particular has seen a rise in buyer activity.

Managing director at Infinito Real Stephen Anderson explained that a busy summer has helped boost sales, although he cautioned that, while there is room for negotiation over house prices, investors need to be aware that these assets are often already heavily discounted.

He added that one of the key issues is the availability of finance, which means cash buyers are more likely to be able to capitalise on the low market.

"Significantly, once the banks do start to lend again, the Algarve will be best positioned for a quick recovery, which provides a window for investors to make the most of property prices at the lowest they are likely to be," Mr Anderson commented.

At the end of last month, Global Property Guide reported on statistics from the Instituto Nacional de Estatistica, which revealed that the Algarve was the only region in Portugal to see its residential real estate values rise in the second quarter of the year, compared to the first three months.

However, the research also showed that values in the area remain 5.45 per cent below their peak levels.

Portuguese housing market 'still struggling'

Tue, 30 Aug 2011 00:00:00 GMT

The housing market in Portugal is still in negative territory, despite registering an improvement in July over June, the latest figures from the Royal Institution of Chartered Surveyors (Rics) show.

Indices ranking activity and confidence in the Portuguese residential property sector both saw improvements last month, although prices fell during the same period.

Rics senior economist Josh Miller commented: "It is the demand side of the equation that is weighing down on prices."

He went on to note that this is actually a positive situation for the country, as it will not have to deal with issues of oversupply once its economy recovers and unemployment levels fall - unlike other European nations such as Spain.

According to the Rics Global Distressed Property Monitor published earlier this month, Portugal is among the locations to see investor demand for such assets rise during the second quarter of 2011.

However, the organisation noted that the supply of distressed real estate in the country is expected to increase during the three month period from July to September.

'Good opportunities' exist for investment in Portugal's real estate

Mon, 1 Aug 2011 00:00:00 GMT

Investors keen to buy a property in Portugal may find that there are some good options open to them if they do their research.

So says Stephen Anderson, managing director of Infinito Real, who highlighted the Algarve resort of Vilamoura as a prime example.

He noted that around €1.3 million (£1.2 million) has been invested in the destination to renovate its pedestrian areas, marina and cycle paths.

"As property prices have dropped, Vilamoura has become more accessible to those looking to make a purchase and these improvements and increased interest as a holiday hotspot are great news for investors," he stated.

However, the latest data released in the Royal Institution of Chartered Surveyors/Confidencial Imobilario Portuguese Housing Market Survey shows that there could be room for further falls in value.

According to the June report, real estate price declines in the Algarve region accelerated over the course of the month, with expectations remaining negative in the short term.

RICS: Portuguese property prices decline

Wed, 27 Jul 2011 00:00:00 GMT

Falling demand on the Portuguese property market has had a negative impact on prices in the sector, according to the latest data published by the Royal Institution of Chartered Surveyors (RICS).

The RICS/Ci Portuguese Housing Market Survey for June revealed that there is some regional variation, with price declines slowing in the Lisbon and Porto districts, while it accelerated in the Algarve.

Senior economist with RICS Josh Miller commented: "With the Portuguese unemployment rate at 12.4 per cent, it is unsurprising that house prices and activity is falling, while confidence remains very depressed."

The outlook is for both sales and prices of real estate in the country to remain in negative territory over the coming months.

But although residential property is not performing well in Portugal, a recent report by CB Richard Ellis indicated that the commercial sector is doing better.

According to the firm, Lisbon saw yields for office space rise by 50 basis points during the second quarter of this year, compared to the first three months.

CBRE real estate report points to growth in Portugal

Fri, 15 Jul 2011 00:00:00 GMT

Returns on investment in commercial property in parts of Portugal have outperformed the sector in other countries in Europe, a new report has shown.

Compiled by CB Richard Ellis (CBRE), the study revealed that yields on property in Lisbon were up by 50 basis points to 7.5 per cent in the second quarter of the year, while revenue from Oporto buildings rose by 25 basis points to nine per cent.

These upward movements for property in Portugal were the largest increases seen in prime rents across Europe over the period and contribute to a continuation of the stability of the market, although gains remain somewhat slowed, the organisation said.

However, Richard Holberton, director of EMEA research at CBRE, added: "In overall terms, the second quarter of 2011 represented a further milestone in the process of gradual value recovery in the European commercial property markets."

According to the Jones Lang LaSalle Office Property Clock, increased rental growth was seen by European real estate investors in the first quarter of 2011, with the index rising by 1.5 per cent.

Prices fall in Portuguese property market

Fri, 24 Jun 2011 00:00:00 GMT

The Portuguese property market saw a drop in house prices during May, according to new figures.

Statistics from the Portuguese Housing Market Survey by the Royal Institution of Chartered Surveyors (RICS) and Confidencial Imobiliario show that prices started to fall at a faster rate in May compared with previous months, mainly thanks to a drop in demand.

The decreases were particularly large in areas such as Porto and Lisbon, although the Algarve region saw a slowing in the rate at which property values fell along with a stable number of new instructions.

"Although the national picture looks quite bleak, the survey results highlight some promising regional developments during May, with both new enquiries and agreed sales in Porto and the Algarve falling at a slower pace than in April," explained Josh Miller, senior economist at the RICS.

Overall, the composite National Activity index saw a drop to -39, while the National Confidence indicator also fell to -60.

Mr Miller noted in April's report that a decrease in activity, prices and confidence helped characterise the Portuguese property market during that month, along with high levels of unemployment and increasing inflation.

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.

Property prices to fall in Portugal

Fri, 10 Jun 2011 00:00:00 GMT

Foreign exchange specialist Caxton FX has claimed that property in Portugal is soon to become an "investment goldmine".

The firm noted that as the Social Democrats prepare to lead a new coalition government, the country will become more appealing to potential investors, especially Brits looking to make an overseas property purchase.

Caxton FX explained that the party will act swiftly to enact an austerity and reform programme demanded in return for its £70 billion international bailout.

Once the new government is in place the initiative is likely to go through, potentially bringing down residential property prices across Portugal, A Place in the Sun reports.

Rupert Lee-Browne, chief executive officer of Caxton FX, commented: "If the Socialist Party manage to push through the austerity measures discussed, then property prices will come down across Portugal.

"It will become a far more tempting place for overseas investors. I expect to see a rash of Portuguese property purchases from Brits over the coming year or so."

Portuguese property market remains depressed

Mon, 30 May 2011 00:00:00 GMT

Real estate prices, activity and confidence have all taken a hit as a result of the economic situation in Portugal, the latest report has found.

The April housing market survey from the Royal Institution of Chartered Surveyors (Rics) and Confidencial Imobiliario (CI) shows that the country's beleaguered property market continues to suffer.

Real estate agents are experiencing much sharper price declines than developers but overall the market is very depressed, it also shows.

The national activity index fell a further six points in April to –32, while the national confidence index declined by two points to –53.

CI spokesman Ricardo Guimaraes said that the housing market can be characterised by falling prices, falling activity and depressed confidence.

"This is set against a wider economic backdrop of accelerating inflation, elevated unemployment and a shrinking economy that was -0.7 per cent in the first quarter of the year," added Rics senior economist, Josh Miller.

Portugal price falls 'gather momentum'

Thu, 28 Apr 2011 00:00:00 GMT

Price falls gathered in momentum within the Portuguese property market during March, it has been revealed.

According to the Royal Institution of Chartered Surveyors' (Rics) Housing Market Survey for the country, the declines are being driven by falling demand.

The combination of a fall in prices and demand has contributed to a decline in investor confidence in the country, with both value and transaction expectations remaining negative.

Indeed, the national activity index fell two points, to -26, while the national confidence index declined 22 points further to -51, Rics said.

Josh Miller senior economist at Rics, said: "The Portuguese housing market can be characterised by falling prices, falling activity levels and deteriorating confidence.

"This is set against a backdrop of rising inflation, elevated unemployment and a shrinking economy."

Mr Miller added that there is no real regional differences in the declines, with Lisbon, Porto and the Algarve all experiencing the falls.

Portugal property 'won't be impacted' by bailout

Tue, 19 Apr 2011 00:00:00 GMT

European Finance ministers' decision to offer Portugal financial aid will come as good news for the property market, it has been suggested.

Stephen Anderson, managing director of Portugal-based property firm Infinito Real, said that he does not expect the bailout to have a significant knock-on effect on the real estate sector.

"Portugal is a recession hit country, but this does not mean that we loose our tourism appeal, a fact verified by a record number of visitors last year and this year looks set to be no different," Mr Anderson added.

"If anything, there is now more rental potential for property owners as the Portuguese, who may have been looking to buy, are waiting and are therefore looking to rent, thus increasing owners' turnover."

Individuals looking to buy property in Portugal are likely to be buoyed by Mr Anderson's assertion that while prices in the country have dropped, the level of decreases is not a true reflection of market conditions.

Portugal's housing market remains 'robust'

Tue, 12 Apr 2011 00:00:00 GMT

Despite requesting an economic bailout from the European Union (EU), Portugal's housing market will be unaffected, it has been claimed.

This is according to Jorge Moniz, of Banco Espirito Santo, who believes that the financial aid will have no knock-on effect on the country's real estate sector.

Speaking to Overseas Property Professional, Mr Moniz said that his firm had seen an increase in the number of mortgage applications from UK residents looking to buy property in Portugal.

"It is important to note that Portugal hasn't suffered from a property bubble. On the contrary, over the past ten years up to now, our property prices have been quite stable," he added.

Mr Moniz explained that the Portuguese market has not suffered in the same way as other European counterparts. Oversupply is not an issue, while the country's banking sector is also relatively solid and stable, he said.

"Portugal is a mature destination for discerning buyers, and particularly renowned for the top end of the market," the expert told the news provider.

His comments follow news that the country has called for help from the EU to deal with its massive budget deficit, thought to be in the region of €80 billion.

Portugal to request EU bailout

Fri, 8 Apr 2011 00:00:00 GMT

EU finance ministers are expected to meet later today (April 7th) to discuss Portugal's bail out request, it has been revealed.

The country's caretaker prime minister Jose Socrates said on Wednesday that he had made an appeal to the EU for financial assistance.

As a result of low economic growth and high wages, the country has struggled to raise enough money through taxation to pay for government spending and reduce the ever-increasing national deficit.

If granted, Portugal will follow Greece and the Irish Republic in seeking a bail-out from other EU member states.

"I always said asking for foreign aid would be the final way to go but we have reached the moment," Mr Socrates said. "Above all, it's in the national interest."

The news could interest those looking to buy property in Portugal, with the economic situation likely to impact on home prices.

Indeed, foreign exchange bureau Caxton FX recently noted that the troubles in the country could lead to property values falling a further 20 per cent by the end of 2012.

Portugal property prices set for a 20% fall

Fri, 1 Apr 2011 00:00:00 GMT

Economic turmoil in Portugal could lead to property prices in the country falling a further 20 per cent by the end of 2012.

This is according to foreign exchange bureau Caxton FX, which noted that after the country failed to pass a strict austerity package, an EU and IMF bailout looks all but certain.

As a direct result of this, the firm suggested that property in Portugal was likely to fall in value.

Caxton FX explained that there has been a steady increase in the number of Brits buying property in the European country in the past year, adding that recent economic events mean that buyers will be able to negotiate more on asking prices.

Rupert Lee-Browne, the firm's chief executive officer, said: "Eurozone interest rates are likely to rise, increasing the expense of homeowner loans. As loan defaults increase, and the number of repossessions rises, I expect the price of Portuguese property to fall significantly."

House prices falling in Portugal

Fri, 25 Mar 2011 00:00:00 GMT

Weak demand and falling confidence in the Portuguese property market is causing residential home prices to fall in the country.

This is according to the latest survey from the Royal Institution of Chartered Surveyors, which noted that property values in February have continued to decline at roughly the same pace as the previous two months.

Indeed, many real estate agents are recording large price falls and the outlook for prices remains negative, the data shows.

The news may lead a number of individuals to consider making a property purchase in Portugal, with current low prices meaning that there is an opportunity to pick up a bargain home.

According to a spokesman from the firm, the main concerns of Portuguese real estate agents and developers relate to the financial constraints felt in the market.

"These concerns are being amplified by higher unemployment and political uncertainty," he said. "On the other hand, some expect a boost from tourism due to the political changes taking place in competitor countries in the Maghreb."

Amanda Lamb, presenter of A Place in the Sun, recently named Portugal as one of the most popular destinations to buy property.

New flights to boost Portuguese tourism

Thu, 17 Mar 2011 00:00:00 GMT

Property investors in Portugal are sure to be please by news that low-fare airline Jet2 will be adding two new flights to the country from the UK.

The news could lead to an increase in the number of buy-to-let investors active in the country who are looking to capitalise on its growing tourism market.

It means that the carrier will be increasing its total capacity to more than 300,000 seats, something which Stephen Anderson, of Infinito Real, believes demonstrates a growing confidence in the area.

"Budget airlines have been the making of many resort areas throughout Europe over recent years," he said.

"As well as increasing accessibility, this is a positive step for tourism and investors, as more competition will drive prices down and ultimately more people to the area."

It follows recent news that, despite the economic downturn, the Algarve has continued to be a popular destination for holidaymakers. Mr Anderson added that 2010 was recently named as the best year on record for the tourism industry in Portugal.

Madeira property 'well positioned' to bounce back

Fri, 28 Jan 2011 00:00:00 GMT

The property market in Madeira is well positioned to become a popular destination for investment this year.

Although the sector is currently very slow, a restricted supply of holiday homes in Portugal could lead to an increase in the number of potential buyers looking at what they can get for their money on the Portuguese island.

This is the belief of the Jorge Botelho Moniz of Banco Espirito Santo, a Portuguese bank offering mortgages in Portugal, who said that Madeira is currently a "well-kept secret".

However, Mr Moniz added that the situation will change rapidly with existing developments "achieving maturity in sales and new ones coming into the market".

"Madeira is still relatively unknown as a holiday home destination," Mr Moniz said. "There are just a few developments targeting the foreign market, but the existing ones offer high quality units in exclusive breathtaking locations and a variety of services included."

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.

Algarve to become more popular in 2011

Mon, 10 Jan 2011 00:00:00 GMT

Less well-known areas in the Algarve are likely to grow in popularity this year, the Portuguese region's tourist board has claimed.

Indeed, as individuals continue to look for back-to-basics holiday packages and travel options, people will increasingly head to the more natural "beautiful" areas that are located within the region.

The news may be of interest to those looking to buy property in Portugal, with a jump in tourist numbers helping to boost the country's buy-to-let market.

Nuno Aires, president of the Algarve Tourism Board, confirmed the rising trend of holidaymakers hoping to get closer to nature.

"People are more and more focused on nature and the beautiful natural parts will grow [in popularity]," he added.

The comments come in the wake of a recent report from TravelSupermarket.com which named the Algarve as one of the top ten destinations for holidays this year.

And many Brits opting to travel to the region will find that they are able to capitalise on the euro's current weakness against the sterling.

Algarve homes increasingly popular with Brits

Mon, 3 Jan 2011 00:00:00 GMT

An increasing number of buyers are looking to buy property in Portugal's Algarve region.

That is according to Santander Totta, a leading provider of mortgages for people buying real estate in Portugal.

It says that, after the economic crisis saw a sharp fall in the cost of homes, many people are looking to take advantage of the cheaper prices.

Speaking to aplaceinthesun.com, Simon Perks, the bank's general manager, said: "In the last three to four months we have seen more interest from those looking to buy at the top end of the market as the Algarve continues to attract mainly lifestyle buyers."

Nigel Salmon of Portuguese property agency Girasol Homes, supported his comments, saying that Brits in particular are looking to buy retirement or second homes in the area.

"Most people buy for the right reasons and the opportunity of lots of properties to choose from and buying for genuine retirement or a quality second home is the main catalyst. There may be more needy sellers and builders which may offer some additional opportunity, but on the whole, the [Algarve property] market looks reasonable for 2011," he said.

A recent survey by the National Statistics Institute found that property prices in the Algarve climbed by an average of 0.8 per cent during October.

Popular Portuguese cities 'buck the downward trend'

Fri, 17 Dec 2010 00:00:00 GMT

Property prices in some regions of Portugal are bucking the downward trend and increasing in value, it has been reported.

According to a survey by the National Statistics Institute (INE), homes in Madeira and the Algarve climbed by an average of 0.4 per cent and 0.8 per cent respectively during October.

This is despite the INE reporting that nearly all other regions in Portugal recorded price falls over the course of the month.

Both the Algarve and Madeira are considered appealing destinations for British-based buyers, A Place in the Sun reports, with both boasting great transport links and large ex-pat communities.

The news provider added that overall real estate values in the country fell on average by 0.6 per cent in October, compared to the previous month September and by 1.3 per cent compared 2009.

It could encourage a number of individuals looking to buy property in Portugal to take the plunge, with bargain prices available and demand in some areas starting to rise.

Portuguese property market set for slow growth

Tue, 14 Dec 2010 00:00:00 GMT

Individuals looking to buy property in Portugal may be interested to learn that the real estate market in the country is expected to slow in 2011.

According to a new report, rising supply and falling demand in the Portuguese market is a sign of increasing pessimism in the property sector.

The October RicsS/Ci Portuguese Housing Market Survey shows an increasing number of estate agents and developers reporting falling rather than rising prices.

Indeed, respondents to the survey have become increasingly pessimistic concerning the short-term outlook for prices and sales.

The price expectations net balance fell further into negative territory from –33 to –53, while the sales expectations net balance fell from +7 to –24.

"Portuguese real estate agents and developers remain downbeat. Survey respondents note that the recent approval of the Budget was not enough to calm financial market fears, which in turn is weighing on confidence in the real estate sector," said CI Spokesman, Ricardo Guimaraes.

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".

Portugal tops Doing Business 2011 report

Thu, 18 Nov 2010 00:00:00 GMT

Those looking to buy property in Portugal will be encouraged to hear that the country recently topped The Doing Business 2011 report, which compares real estate business practices and procedures around the world.

Portugal came out as the quickest and easiest country for potential buyers to register a property out of nearly 200 separate destinations, The Portugal News reports.

Overall, the country beat off competition from other popular European destinations such as Spain, which ranked 49th, Italy, which is in 80th place and Greece, which is now ranked 109th.

Portugal's success can be put down to the establishment of a 'one-stop-shop' for property registration.

A spokesperson from Vernon Real Estate told the news provider: "The actual buying process in Portugal has improved in recent decades, with the process having become very straightforward, fast and transparent for buyers.

"If the funds are available and the property has no legal issues, then a sale can be completed from start to finish in as little as a week."

The Doing Business 2011 report is an annual publication from the World Bank, which provides measures of business regulations and their enforcement around the globe.

Portugal could face euro exit, minister warns

Tue, 16 Nov 2010 00:00:00 GMT

Individuals interested in looking for property in Portugal may be interested in the latest comments from one government minister from the country.

Speaking in an interview with the Portuguese weekly Expresso, foreign affairs minister Luis Amado said Portugal faces "a scenario of exit from the euro zone" if it fails to tackle its economic challenges.

He explained that there needs to be a political-wide coalition to confront the economic challenges and win the support of the market.

"There has to be an effort by all political groups, by the institutions, to understand the gravity of the situation we're facing," Mr Amado said.

The country has seen a sharp fall in investor confidence over the past few weeks as concerns over fellow eurozone struggler Ireland intensified - pushing Portugal's risk premiums to their highest levels since it adopted the euro.

Mr Amado added: "The country needs a grand coalition that allows it to get through the situation. I believe the (political) parties understand that the alternative to the situation we confront is eventually leaving the euro."

October set to be busy for Portugal property enquiries

Sat, 2 Oct 2010 00:00:00 GMT

For the past decade October has proven to be the busiest month of the year for property enquiries in Portugal, one agent has claimed.

Infinito Real has revealed that the month usually brings with it a sharp rise in the number of client appointments and viewing trips, with 2010 proving to be no exception.

The company explained that, with homeowners keen to offload property during the winter months, there is more chance of securing a discount, which is sure to be good news for those looking at property for sale in Leiria or Faro property.

Managing director of Infinito Real, Stephen Anderson, said that Portugal is always a popular destination for travellers during the summer months

"October is the perfect time for a potential purchaser to look around to see what is available. The same principles apply whether buying a holiday home for private use or an investor looking for a good return on their outlay," he explained.

"Portugal is always among the top 20 most visited destinations in the world and is particularly popular with Brits."

OECD confident about Portugal's economy

Wed, 29 Sep 2010 00:00:00 GMT

The OECD has said that it is confident that Portugal will weather the current financial crisis.

According to the body, the European country has made major progress in terms of modernising its economic circumstances over the past few years, but had been hit hard by the crisis

OECD claims that the immediate challenge is to gain investor confidence by reinforcing Portugal's public finances - adding that the government's consolidation plan is the best way to achieve this.

"I am confident Portugal will weather this crisis. The ambitious fiscal consolidation strategy must be backed by a strong political consensus which the country has in the past been able to achieve," OECD secretary-general Angel Gurria said.

However, Mr Gurria said other challenges are more deep-rooted and further steps needed to be taken to make Portugal more resilient to future crisis.

The news may interest individuals looking at Lisboa property or property for sale in Leiria, with the country's strengthening economy sure to boost the real estate market.

Property investors should consider community-focussed properties

Fri, 20 Aug 2010 00:00:00 GMT

Property investors should consider investing in property that has a community spirit.

According to leading overseas property expert Giles Gale, people are less taken by properties in isolated complexes and those investing in property in Spain or Italy should consider houses and flats that are more integrated into the local way of life.

Mr Gale told the Daily Telegraph that the more people than ever before who live or holiday abroad have a grasp of the local language and expect properties that are not housed in "English ghettos".

He cites the example of a major, integrated golf-resort housing tract in Portugal, which has performed well during the recent economic turmoil.

"Prices on the resort have barely fallen as a consequence, with villas costing from £750,000, unlike the secondary golf resorts in the Algarve. Prices have fallen there by 30 per cent," he told the news provider.

According to Shelter Offshore, demand for holiday homes in France is consistently strong, but investors have to hunt for bargains.

Algarve a cheaper Portuguese option for those wanting property abroad

Wed, 23 Jun 2010 00:00:00 GMT

Those considering investing in property abroad may want to consider the Algarve if searching for a more affordable option in Portugal.

Writing for the Daily Telegraph, Saundra Satterlee remarks that "Portugal's Algarve region boasts over 125 miles of sandy beaches, isolated coves, dramatic cliffs and one of the most unpolluted and healthy climates of continental Europe".

Meanwhile, keen golfers may also find a lot to enjoy about the location because of the vast number of courses on offer, while the chance to relax can extend further to an abundance of bars and fish restaurants.

Ms Satterlee was also quick to point out that the Algarve is already home to a number of UK individuals advancing their number of property investments, whether it be first-time buyers or those looking for somewhere to relax now that they have retired.

Alternatively, those with a little more cash readily available may want to search around the central coastline as "the further inland from the coast, the more reasonably priced the property," the writer notes is a general rule of thumb.

Manuel Puig, managing director of Jones Lang LaSalle Portugal, suggested earlier this year that the country's property market was well on the way to recovering from a disastrous 2009.

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.

Number of investors rising as confidence returns to Portuguese property market

Fri, 21 May 2010 00:00:00 GMT

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.

Madeira is a 'great destination for families'

Tue, 11 May 2010 00:00:00 GMT

Individuals with a property interest in the Portuguese island of Madeira will be encouraged to hear that the destination is a great place for families to visit.

According to the Association of Independent Tour Operators (AITO), holidaymakers can take advantage of the wide range of activities available and inexpensive travel costs.

The news is sure to be of interest to property investors in the region, who may wish to rent out their real estate to travellers.

AITO spokeswoman Sue Ockwell explained that Madeira was looking to attract tourists back following the recent flash floods which caused widespread devastation to the island.

She continued: "It's popular and inexpensive, especially after the floods there are plenty of good deals around.

"It's a pretty inexpensive option for families by the time you put a low-cost flight together."

Recently, Jet2.com announced that it was introducing a new low-cost route to the region.

The once-a-week service will be flying from Manchester and offering tourists the opportunity to take advantage of additional travel options.

Portugal to capitalise on Brits holidaying overseas

Tue, 11 May 2010 00:00:00 GMT

Property investors in Portugal may be set to capitalise on the increasing amount of Brits looking to holiday overseas this year.

According to research conducted by rental firm HomeAway, searches for holiday homes in the UK for July and August have failed to reach the same high levels as last year, while other European destinations are increasing in popularity.

"Places you can drive to in Europe that are mid-way between a UK holiday and long-haul destination are doing well," Courtney Wylie, the portal's general manager, told Overseas Property Professional.

"Portugal is having a great year."

Investors in the country looking to rent their property may be interested to hear that a survey by the company earlier this year found that 57 per cent of Brits were looking to holiday abroad this year, with a fifth planning to rent homes.

During 2009 Portugal was visited by 11 million tourists, TheMoveChannel.com reported.

Accessibility contributing to Portugal's popularity

Fri, 30 Apr 2010 00:00:00 GMT

The accessibility of property in Portugal is contributing to its popularity as a real estate investment destination, it has been suggested.

Low prices, great accessibility and amenities such as an abundance of golf courses are contributing to the country's appeal as an investment destination, KBS Property Investments has claimed.

Harjinder Singh, marketing manager at the firm, explained that the drop in real estate value had made the weakness of the GBP "almost redundant", adding that investors are now beginning to return to the market.

"The main question that any person coming to us is asking themselves is, 'Am I getting as much property for my pound as I was getting three years ago?' And the answer is simply yes," Mr Singh explained.

"It is the accessibility of the country and the fact that lots of people go there on holiday that makes the market so popular."

Faro property searches could increase as a result of the news, with the destination well served with an international airport and a number of top-quality golf courses.

According to a report by Knight Frank, house prices in Portugal remained stable during 2009 with 0.2 per cent growth.

Madeira aiming to boost tourism numbers

Wed, 21 Apr 2010 00:00:00 GMT

Madeira is set to bounce back from recent flooding to establish itself as a top tourist destination, it has been claimed.

The Portuguese archipelago was recently devastated by floods, which managed to discourage a number of tourists and potential investors from heading to the destination in the short term.

However, writing for Prime Location, property expert Alexander Garrett has claimed that the appeal of the destination to potential real estate owners has not been diminished by the natural disaster.

Mr Garrett drew attention to the planned improvements which are likely to be made to the island in an attempt to increase tourism numbers.

Two new golf courses are due to be opened in 2011 and a possible new terminal for super-yachts is in the pipeline, meaning there is plenty of scope for recovery.

He continued: "With huge investment having been ploughed into roads and an extension to the airport and other infrastructure, moves are now afoot to broaden Madeira's appeal.

"With Madeira's outstanding warm climate throughout the year, the floods are unlikely to prove more than a temporary setback."

Former Manchester United winger Cristiano Ronaldo was born in Madeira.

Portugal property market is showing signs of gradual recovery

Mon, 29 Mar 2010 00:00:00 GMT

Despite the current economic climate, and the fact that the Portuguese property market posted its worst year on record during 2009, optimists have argued that the European destination is displaying signs of recovery.

The country has long been considered a favourite among British investors who look to take advantage of the popular tourist destination for its warm climate and enviable golf courses.

Manuel Puig, managing director of Jones Lang LaSalle Portugal, has claimed that as buyer confidence returns and activity begins to pick up the housing market will gradually start heading back in the right direction.

He continued: "By the end of 2009 the extremely pessimistic forecasts did not materialise and the market adapted itself to the new circumstances, which in turn is leading to a return of confidence."

The claims were made in a recent report which outlines the market's recovery.

It stated that increased demand, return of foreign investors and better access to finance deals will all help drive it forward.

Potential investors to the country may be interested in news that themovechannel.com reported that during 2009 Portugal hosted 11 million tourists and has a growth forecast of three per cent per year until 2017.

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.

High-wealth property investors look to Portugal

Wed, 24 Mar 2010 00:00:00 GMT

An increasing number of more "savvy" high wealth investment clients have entered the Portuguese property market looking to take advantage of bargain properties and low interest rates, it has been claimed.

Financial industry news source MyIntroducer.com, has revealed that agents in the popular European tourist destination have seen a decrease in the number of lifestyle buyers in favour of new high-income clients.

Stephen Anderson, managing director of property portal Infinito Real, told the website that property that commands high rental yields was increasingly popular.

He continued: "When coupled with a large discount [properties] can bring in rental returns in excess of ten per cent per annum.

"Certain areas will yield a better return if you need to make an income from the property, so look for a bargain that will put you in a strong position to sell at a good price in the future."

Potential investors to the country may be interested in news that themovechannel.com reported during 2009 Portugal hosted 11 million tourists and has a growth forecast of three per cent per year until 2017.

Portugal property is attracting a growing amount of interest

Tue, 9 Mar 2010 00:00:00 GMT

Portugal's property market is attracting an increasing amount of interest from potential investors, it has been claimed.

Overseas housing news website Property Community has reported that property portal Infinito Real has seen a 17 per cent month-on-month rise in the number of enquires about the country within the last quarter.

The website reports that this growth can be attributed to the fact the country is not overcrowded like some of its close competitors and also to its recent positive press coverage surrounding its economy.

Stephen Anderson, managing director of Infinito Real, told the news provider that a number of factors had contributed towards Portugal's growing popularity.

He continued: "We have seen that a number of buyers who postponed their plans in 2009 are now ready to move which has created a backlog of buyers wanting to move as soon as possible.

"The small increase in the exchange rate from almost £1 to €1 throughout most of 2009 … has had a profound effect."

Earlier this year, the European Commission predicted that Portugal's economy would fare better in 2010 than previously expected, potentially growing by 0.3 per cent.

Tourism industry supportive of flood clean up in Madeira

Sat, 27 Feb 2010 00:00:00 GMT

Individuals with a property interest in the Portuguese archipelago of Madeira may be interested in news that work has begun to repair damage sustained by the island after flash floods caused widespread devastation.

According to a report by Overseas Property Professional (OPP), the tourism districts of Estrada Monumental and Lido are back operating at their usual capacity, with the airport and harbour both still open.

John Ward, of developer Morgan Forbes, said that the island's reputation would be further cemented if the clear up was swift.

He explained to OPP: "Tourism is affected by how quickly you can respond to this kind of event.

"If things can be turned around in four or five weeks it will put the scale of the problem into perspective. This definitely isn't going to set the island back more than that."

Madeira is a popular year-round resort, famed for its wine, flowers and embroidery artists.

Portugal offers a "unique experience"

Tue, 23 Feb 2010 00:00:00 GMT

Individuals with property in Portugal will be boosted by claims that the country offers travellers a "unique experience", while remaining good value.

The comments come after the country was named as one of the top five destinations that will see a growth in popularity this year by online travel agent sunshine.co.uk.

An increase in the number of tourists shunning Spain and booking holidays to the Mediterranean destination was also seen by the website.

A spokesperson for cheapflights.co.uk highlighted the potential of Portugal, saying: "Portugal does offer a unique experience. From the cultural highlights of Lisbon to the mountainous coastline of the Algarve, Portugal's bustling cities, gorgeous scenery and lively culture make for an excellent holiday."

Furthermore, they pointed out that travel to the country is becoming more affordable thanks to a strengthening GBP.

Meanwhile, overseas property investors will be pleased by the results of the Wanderlust and AITO travel survey, which shows that overall, people are more positive in their travel plans for the coming year.