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Deciding wisely in Portugal |
Written by Jim Barnaby
Friday, 02 May 2008
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Portugal has been the subject of plenty of attention in recent months,
not least as an alternative Iberian destination to Spain. Providing
high quality accommodation rather than pile-them-high blocks of flats
on the Costas is one way the country can be truly alternative, while
the lack of a dominant market position may have left the country much
less vulnerable to a property slump. But for all the ifs and maybes, Portugal shares with Spain the possibility of a buy-to-let market based heavily on tourism, not least from Britons heading southwards for some sunshine. In this respect, the ever- popular Algarve can be considered a key area for buyers to consider. Online travel agency Holidays-Direct has reported that the region has been the most searched-for destination on the site, suggesting that buy-to-let holiday accommodation could be in high demand this summer, reports propertyshowrooms.com. Holidays-Direct spokesman John Pearce commented: "With some of Europe's most attractive and cleanest beaches, exceptional landscapes and year round sunshine, the Algarve is quite rightly a holiday hotspot for British tourists looking for some sun." So if the Algarve remains a tourist hotspot, it may seem a no-brainer to invest there. But before buyers part with their money, it may be a good idea to do some serious research, according to Barclays Buying Abroad, the overseas investment section of the bank. Speaking about property investment in Portugal, European business development manager Suzanne Clay said: "General research on market trends and information on short term to long-term lets should help to make an informed decision. It pays to be well informed." Ms Clay listed a number of factors which should be borne in mind, such as the presence of good local restaurants, the need for a car, plus the proximity of the airport and golf courses. Moreover, she added, there was the money factor: "Weigh up the likelihood of year-round rental potential and the opportunity to receive rental income in euros to offset against a local euro property mortgage in Portugal." Finally, she concluded: "Always regard your purchase as a long-term investment." All this may seem like sound advice and to those used to reading the words of experts, familiar stuff too. But there is more. While such as advice as that offered by Ms Clay could apply to any investment in the country, an additional element is that of growth prospects. While the Algarve is seen as the established area and a safe bet, the Silver Coast has a growing reputation as an emerging hotspot. Writing about this area north of Lisbon last week, the Daily Telegraph noted that prices could be up to 25 per cent lower than those for equivalent property in the Algarve. Many new developments are being established in the region, commonly based around golf, such as the Royal Obidos Spa Golf Resort, being established by Oceanico group and featuring a golf course designed by Seve Ballasteros. Sales and marketing director for the firm Nikki Loker told the paper; "There should be gains to be made by investing in the Silver Coast early." So with the right research and planning, investors in Portugal have plenty of opportunities, with those keen to play safe having the Algarve to aim at and others being able to speculate to accumulate on the Silver Coast. Good planning might just lead to a more than good investment. In today's world Property investment is an excellent investment option especially investment in UK Article Source: http://www.ArticleBlast.com |
About The Author:
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property
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