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In a post dictatorship glow the
construction industry flourished within
Portugal
and a wealth of new
build properties were constructed country-wide. However this initial development boom in
the construction industry faltered in the 1980s, when supply exceeded
demand and there was a 'mini' crash within the property market.
In the
intervening 20 years since this crash, the country and it's economy have
recovered sufficiently to report a steady year on year growth inline with inflation. The Portuguese property market is stable
one and to the medium to long term investor
Portugal offers safe and steady returns.
The property market in
Portugal
has
definitely evolved over the past 30 years. Traditionally the
Algarve was
the soul area of Portugal attracting foreign buyers looking to purchase
holiday homes, retirement retreats or to relocate on a permanent basis.
However more savvy property investors have turned their attentions
northward to both the Silver Coast and
Central Portugal regions.
Property within these two regions are
noticeably cheaper and there is a great deal of choice to suit
everyone's tastes and budgets. Ruins for restoration can still be
snapped up for as little as 15,000€ and three bedroom new build houses
starting from around 125,000€.
Improvements to both road
and rail infrastructures by the Portuguese government
have opened up these regions to the overseas buyers,
looking for holiday, retirement and investment homes.
Confirmation of new airports to be constructed in
several more remote areas of the country have also
boosted the country's appeal for foreign buyers looking
for an investment opportunity. |
