portugal property to see strong sales in 2010
News Posted On: 21 January 2010
Portugal is to be one of the top property markets in 2010 in terms of foreign demand, it has been claimed. Investment consultancy Property Frontiers say that buyers are shunning Spain, and finding that Portugal is the closest alternative.
Portugal is to be one of the top property markets in 2010 in terms of foreign demand, it has been claimed. Investment consultancy Property Frontiers say that buyers are shunning Spain, and finding that Portugal is the closest alternative.
Portugal is by far the least risky of the two markets, and if there is one thing the current buyer is that is risk averse. We are seeing the wealthy lifestyle buyers and casual investors returning to place in the sun-seeking. Those who would normally choose Spain are now looking at Portugal as the closest but far less risky alternative,” said the firm's director David Cox in a recent news article.
The firm say that Portugal is also benefiting from the type of people currently buying, which are predominantly risk-averse lifestyle buyers.
Portugal property is not currently the bargain-filled dreamscape that buyers can find in America or Spain, due to their distressed sale and repossessed properties, but the wealthy lifestyle buyer is apparently prepared to pay more for the security of buying in a stable market.
And Portugal certainly is stable. It joined France and Italy to be first in Europe out of recession in the second quarter, and has seen solid quarterly growth ever since. The property market was also one of the first out of the Doldrums, seeing quarterly growth since the second quarter, and prices down just 0.3% year on year in the third quarter. So it is easy to see the attraction.
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