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Overseas Property News
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Portuguese government agrees to new international airport
Country: Portugal
23rd January 2008
Initial plans for the new airport to be constructed thirty miles north of the capital in the town of Ota, have been scrapped in favour of Alcochete, situated approximately nine miles south of Lisbon, on the south bank of the River Tejo. Socrates said that a review of the initial plan found that the Alcochete site would cost less, had plenty of space for expansion and had better security, among other factors. The new airport, which is currently occupied by a military firing range, is expected to cost in the region of €5billion (£3.7million), and is earmarked for completion in 2017. Lisbon's current airport, located on the edge of the city, is expected to reach its maximum capacity of 16 million passengers by 2015. Editor's comment Expect a greater number of property investors to now speculatively buy property located close to the projected airport site in Alcochete, on the back of the government’s decision. This in turn is likely to force property prices upwards.
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Price: €35,000
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Type: Land
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