Insurance News Archive

Portugal 'a good Spanish property alternative'

Portugal is a good alternative for property investors as its market is unlikely to become overbuilt and overdeveloped like its Spanish neighbour, an expert has claimed.

Simon Walker, sales director at Off Plan International, said this is due to the smaller size of the country, which also has the advantage of having a climate similar in the north as it is in the south.

Coastal areas, especially Albufeira and Lagos, remain popular he said, but better bargains and investment opportunities can be found inland.

Mr Walker warned mistakes can be made with overseas property if investors "jump on the bandwagon" and urged potential buyers to do their research.

He added: "The only issue is the euro, which obviously makes costs some 15 or 20 per cent higher just because of the exchange rate.

"But no, Portugal is definitely an option and has been for sometime, and the cost of living there is low, very much in comparison to Spain."

Meanwhile, Investors Provident has recommended that buyers who want to rent long-term in the country should furnish their properties to achieve the highest yields.

30 May 2008