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Saturday, October 11th, 2008
You are here: Shelter Offshore » Property Abroad » Property in Portugal
Saturday, October 11th, 2008
With markets melting and credit being crunched into the carpet is there anywhere in the world to buy a potentially profitable property anymore? Or should we all just accept the fact that property can no longer be considered an investment, and instead see it as just a luxury item or a necessary roof over our heads?
Well, having searched the length and breadth of the property world we have discovered a couple of pockets of potential profitability in Portugal in the form of golf and marina property. If some sun, sea, sand and sagacious spending appeals to you, how about the following ideas for securing profitable property in Portugal to beat the price crash?
Of course, we cannot guarantee that any investments made will actually return you any cash, but there would appear to be something of an insatiable appetite for golf property on the Algarve and marina property in Portugal’s favourite resorts.
At a time like this when the true terrible state of the US economy has been revealed with the state takeover of Freddie Mac and Fannie Mae, who’s still profiting from property? And I don’t just mean in America, because banks around the world have lent money and done deals with the 2 US mega-mortgage companies and undermined their own national property markets as a result.
Whilst the whole world has a focus on America, Britain and the likes of Spain where the word recession is probably falsely being bandied about instead of the word depression, (who wants to face that prospect!), what about countries like Portugal where little national news is being reported about the state of the housing market. Who, if anyone, is profiting from property in Portugal?
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Unlike Barcelona or perhaps Paris, Lisbon doesn’t have a reputation as a stunningly vibrant European city of history, culture, fine cuisine and…expensive property prices.
And yet, whilst Lisbon is indeed highly-expensive-property-price free, it has history, culture, fine cuisine and so much more in bucket loads so that anyone seeking charming property in Portugal should really give Lisbon a look.
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The south central region of Portugal called Alentejo actually borders the Algarve to the south but it has so much more going for it than packed out summertime beaches and golf courses! For a start it has far more affordable property prices than the Algarve, and for another thing, Alentejo has such dramatic and diverse countryside that there is a town, village or rural location to suit everyone’s tastes in this part of the nation.
So, forget the Algarve with its high property prices, and buy property in Alentejo in Portugal instead, especially if you want to live in ‘real Portugal. Away from the maddening crowds and the sometimes excessive summertime heat which is exacerbated by the high levels of tourism on the Algarve, Alentejo has so much charm and appeal, it really is worth closer inspection.
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Let’s be honest about it, the thought of Portugal doesn’t exactly conjure up images of exotic beaches and it doesn’t make for a particularly exciting property destination for investors either because there are no reports of overnight gains to be made in this European nation’s real estate market.
So why is Portugal still popular with property purchasers then? There are other, more glamorous, better potentially returning real estate environments out there - and yet Portugal is an evergreen, timeless and unshakeable market particularly with British buyers. Let’s take a closer look at the conundrum…
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