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Portugal Property: Should You Invest in Portuguese Property on the Silver Coast?

Date: 29/9/2008

Well, there are no two ways about it – Portugal has an incredibly successful property market largely based on international buyers snapping up stunning homes on the Algarve.  However, property prices in this particular part of the nation have become overpriced due to supply restrictions versus demand intensity, and so the natural outward rippling of demand interest has spread and it has now reached the Silver Coast which means that yes, this could just be the next part of Portugal to boom.

If you’re particularly interested in Portuguese property and have therefore been keeping an eye on the offline press and online media over the past couple of months you may have noticed a sudden increase in the amount of attention being given to the Silver Coast. 

On the one hand this is great – it means you can learn far more about the climate (temperate in the winter and stunning in the summer), the sea and the beaches (cold sea, great surf, sandy beaches great for sunbathing and safe for children), the locals (friendly and welcoming but still very Portuguese, i.e., they haven’t given up their language in favour of English so that they can do business with the tourists), the language (a nightmare to learn), the cuisine (gorgeous but no compromises for other nationalities’ tastes) and the property available for sale.

There are major developers and agents on the Silver Coast now – I mean, MRI are there for goodness sakes and Barclays are offering international mortgages to buy property in Portugal on the Silver Coast!  And there is a steady abundance of real estate coming to the market for sale with the golf courses, swimming pools, tennis courts and usual high class leisure amenities and facilities that one actually seems to associate with property developments in Portugal.

But none of this really answers the question posed – i.e., - should you invest in Portuguese property on the Silver Coast? 

Well, as stated on the one hand the increase in media interest in this part of Portugal is a good thing if you’re trying to find out what it’s like before you visit or buy, but on the other hand maybe it isn’t so great!  If you’re looking for a traditional property in Portugal - where once you could find such a thing for a very attractive price in the ancient towns and villages dotted along this particular part of Portugal, now you may be priced out of the market due to the increase in overall awareness and interest in this region of the nation.

So – if you want a property of the type that you’ll find on the Algarve but for a far lower price - i.e., villas and apartments with great access to tonnes of fantastic facilities in purpose designed and built complexes ideal for holidaying in or renting out to the tourism market then the Silver Coast should be where you’re looking right now.  But if on the other hand you thought the Silver Coast was an untouched and incredibly affordable part of the nation you may be in for a rude awakening if you visit.

Finally, you can still buy traditional homes, you do still need to speak Portuguese if you want to communicate with local people and you will still only be served traditional dishes from Portugal if you visit the vast majority of the cafes and restaurants in this neck of the woods - but things are certainly ‘a changing’ and it makes a lot of sense to visit the Silver Coast, travel around it, go off the beaten track as well as viewing some of the brand new developments well and truly ON the beaten track and decide for yourself whether it the Silver Coast is what you want and expect from Portugal before you make a purchase commitment. Source: Shelteroffshore

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