Portugal Property

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Portugal Property Investment - Algarve most popular with its beautiful beaches and wonderful weather

Date: 30/1/2008

Portugal has been popular for foreign property investors for a number of years. The Algarve is the most popular place thanks to it’s miles of beautiful beaches and hot weather. It is still an excellent place to invest as the property prices are still strong, however taking more of a risk in a less developed area may produce better returns.

Portugal is popular because it has excellent transport links to the rest of Europe - return flights are from as little as £150. The transport infrastructure in the country itself is good, and is still being improved, with motorways joining the larger cities making travel cheap and easy. Portugal has a similar sort of climate to Spain however it is seen as the more exotic location. There is also less overdevelopment which has been seen in Spain and developers and planners have taken more care to ensure that the beauty of the country is not spoilt by all the properties which are springing up.

Portugal gets more sunshine than Florida - in the region of 3,000 hours a year. It also has low crime levels and no terrorism threat, again a bonus over Spain. The pollution levels are lower than most of Europe and the leisure facilities equal any other European investment hotspot.

The buy-to-let market is still strong and is still providing good incomes for those who buy houses in Portugal. It is important to research before you buy to ensure if you plan to rent your house, you buy in an area with a strong rental or tourist market.

Mortgages are also very easy to get in Portugal with international banks such as Barclays Bank well represented throughout the country. Most banks will have english speaking advisors to guide you through the buying process. Most also have specific products and loans aimed at foreign investors at good rates of interest. However, be aware that if you are planning a rural retreat, many banks will not give you a mortgage as they much prefer to lend in properties in the larger cities and towns, and in the areas with plenty of tourism.

One of the latest parts of Portugal on the brink of a property bubble is Minho, the most northern province. The climate is more temperate than the south, but ti sitll provides warm summers abd balmy winters. Prices have remained static for the past few years meaning charming rustic properties can be found for around £40,000. The scenery is pretty much unspoilt by tourism and offers acres of countryside. Recently, there have been a number of road and telecommunications improvements in the area meaning that home working and telecommunting have become a possibility for the locals. The easier road access also means that tourists are beginning to visit the area making it an excellent prospect for good investment returns in the next few years. Source: Foreign Property Buyer

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