Interest returning to Portuguese property market with enquiries up and distressed sales down

[Nicholas Wallwork]

Interest in the property market in Portugal is increasing with the number of enquiries rising on*average 17% month on month in the last four months, it is claimed.

According to Infinito Real, a Portugal based company started and run by property investors, the*recovery is underway in the country which has not had the kind of property crisis that afflicted*neighboring Spain.

Click Here to Read The Full Story and Add your Own Comments to Interest returning to Portuguese property market with enquiries up and distressed sales down

 

[Albatross Villas]

I would say that Silver Coast property is amongst the most sought after in Europe and this could be reflective of the Portugal economic strength in the recession compared to its neighbours Spain. Silver Coast properties are becoming progressively more and more popular, and would be an ideal investment property for those who are looking to make more on their second home.

 

[Portugal Stephen]

In fact nowadays the price comparison between the Silver Coast and the Algarve isnt all that great.

I would disagree completely that the SC is becoming more and more popular, and working in both areas the increase in enquiries is mainly for the Algarve.

The SC was popular a few years ago when the prices in the Algarve where hugely inflated.

 

[AshleyIngle]

This comment may sound odd for some people: -

In the eurozone, portugal or spain maybe next in line for the markets to point their figure and bring 'worry and fear' into the minds of people regarding the country's debt and banking system. I have felt this from a handful of clients already - by trade I am a currency broker.

In my opinion if portugal is next in line to get a 'grilling' - then what a good time to buy property as there will (sadly) be panic sellers, wheather land, 'ruin', villa.... If potential buyers are in at the right time/ place and a property suits them, then I am confident it would be a great buy.

this is similar to Warren Buffetts quote - be greedy when others are fearful....

Concerning Currency - dont be too optimistic, especially when the likes of Lloyds tsb are forecasting 1.19 GBP-EUR for most of 2011.

 

[barricades]

This thread was started back in may. I'd be interested to know what the original poster thinks now. Sounds like Portugal is having more problems than Spain.

 

[topcasas]

Property Market in Portugal

Hi there,

I think that we cannot compare the Portuguese Property market with the Spanish.
The dimension of the country and the offer of properties is much smaller in Portugal.

Each area in Spain has hundreds of NEW BUILT units waiting to be sold the "machine" didin't stop producing homes when the world wide finantial crisis arrived to all our countries...
So Banks have repossed a large number of developments, and now they are the ones selling the properties with a massive discount... just looking to get there money back.

Fortunaly the same hasn't hapened in Portugal. Planning restrictions didin't allow massive build areas, banks haven't repossed large number of properties and so prices haven't gone down massively.

Yes the Economy is bad, but it isn't affecting the real estate industry in the moment. We would always face more problems than Spain... we always had.

Talking about the Silver Coast - Portugal:
Fortunally the Real Estate Industry is not being so afected as the offer of property is just slightly above the demand.
Golf resorts are continuing construction and new ones are starting in 2011.

The interest AND SALES have been increasing every month. 2010 has been a good year (better than 2009) and the signs are that 2011 will be better.

Cheers,

Richard
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