Insurance News Archive
'Portugal good for property investors'
Portugal's property market offers a "more robust and stable landscape" than Spain and other emerging markets, a property investment expert has claimed.
According to Rhiannon Williamson, director of ShelterOffshore.com, by buying property in Portugal, investors can "experience prices on a par with those in Spain" due to a year-round tourism market created by the Algarve's out of season popularity with golf tourists.
She said: "In terms of examining Portugal from an investment perspective, it tends to offer a more robust and stable landscape compared to other emerging markets and it is also more robust when you compare it to another British property favourite like Spain."
Although Spain tends to be more expensive, properties are smaller and because large amounts of real estate stock have been built in the most popular locations, a saturation effect is now affecting the overall market, she added.
Ms Williamson also advised prospective-buyers to explore "emerging tourism hotspots" like the Silver Coast for a more affordable method of entering the foreign property market.
According to property inspection company Sunscape Properties, tourism in Portugal will increase by 300 per cent over the next seven years due to developments including a new international theme park, a Formula One track and golf courses - which were voted the best in the world in January 2006.
26 Feb 2008
