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Property in Portugal “is holding its head above water”
Country: Portugal
1 April 2009 Anna Davies With UK house prices in freefall, a growing number of Brits may want to think about buying property overseas. Having knocked Spain off pole position, Portugal is now the most searched for destination to buy a home abroad based on country page views, and property views, on homesoverseas.co.uk. Paul Stubbs of Perfect Portugal Property estimates that average Portugal property prices have fallen by 3-4% since the credit crunch kicked-in last year, but insists that demand for property in Portugal, particularly central Portugal, remains buoyant. Stubbs claims “more enquiries are being received for property in and around Tomar and the River Zezere, while the Silver Coast continues to become more popular.”
According to Stubbs, “Portugal’s property market is holding its head above water”, though the ‘reduced price property’ section of the Perfect Portugal Property website may suggest otherwise. “Vendors are more willing to consider offers than they were a year ago” he admits but maintains that the domestic market is unchanged and is almost certain to improve next year.
Veering from the traditional villas lining Portugal’s popular coast, there appears to be growing interest in Portuguese homes that lie in ruins and require restoring, due the cost-effective nature of renovating a home. Stubbs asserts that “in recent weeks people with higher budgets have appeared back on the radar” and with vacant villas and newly built apartment blocks in abundance, this could be a turning point for Portugal’s property market. Perhaps his estimation that the second half of this year will see an acceleration in property sales does, in fact, hold some weight.
See Also: Anna Davies, Portugal
Some properties in Portugal
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Price: €320,000
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Type: Apartment
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Bedrooms: 5
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NEW Rent2Buy Solution – Move now into the home of your dreams; buy it within five years – ask for details
This detached five bedroom villa plus a multipurpose room is situated in Minas - Serra, close to the town of Tomar in central Portugal.
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Price: €15,000
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Type: Land
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Plot with 1720 sq. metres located in a quiet area some 10 mins. from Matos. Approved project to build a villa with 185 sq. metres covered area. Details of the project can be seen on the photos.
· Gross area for construction: 210 sq.m.
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Price: €25,000
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Type: Cottage
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Bedrooms: 4
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Stone Cottage for rebuilt and plot with 600 sq. meters located in Mourolinho near Ferreira do Zêzere. Approved project to build a villa with 240 sq. meters covered area. Large plot for garden and planting with good views near a small river.220
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Price: €35,000
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Type: Land
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Plot with 1240 sq. metres located in a quiet area near the town of Tomar. Approved project to build a villa with 279 sq. metres covered area. Excellent views above the town Tomar. The property has a well with water.
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Price: €67,500
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Type: Studio
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Bedrooms: 1
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Excellent apartment, broad areas, excellent condition, near to the beach, with new kitchen and equipped. guaranteed profitability. AMAZING PRICE<
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Price: €67,500
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Type: Studio
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Studio situated in a private condominnium with garden, swimming pool and BBQ. In good conditions. Furnished and equipped.
Quiet area near the Falésia beach and Vilamoura Marina
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Price: €85,000
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Type: Apartment
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Bedrooms: 1
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EXCELLENT ONE BEDROOM APARTMENT REFURBISHED, WITH SEA VIEW. 50 mts FROM THE BEACH. QUARTEIRA LOCATED IN CENTER OF QUARTEIRA NEAR OF ALL SERVICES. NEW AND EQUIPPED KITCHENETTE, DOUBLE GLASS WINDOWS, NEW PLUMBING AND ELECTRICITY, FURNISHED.
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Price: €91,100 EUR
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Type: Apartment
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Bedrooms: 2
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Apartment with communal swimming pool
Ref. MA-APT-SC-0014
Region: Silver Coast/ Costa de Prata
Localization: Cadaval
2 minutes walking to the post office, cafés, restaurants.
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Price: £195,200 Bedrooms: 3 Baths: 3 - 2 ensuite 200sqm open plan living. Polished stone floors. Private balcony, terrace & garage. Sea & garden views. Communal pool.
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Prices from: £147,200 Bedrooms: 2 & 3 Off-plan in Fuseta, Olhao. 30 two-bed, two-bath apartments & 20 three-bed, three-bath semi-detached villas.
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