Why invest in Portuguese property?

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01/04/08 | Second home buyers pointed towards Portugal: Second home buyers have been advised to look at a largely overlooked part of central Portugal.The Alentejo region was flagged up as a good location for...Read more
17/03/08 | Irish enter Portuguese property market: Lifestyle buyers from Ireland are increasingly choosing to purchase holiday homes in Portugal, a newspaper has revealed.According to the Irish Independent,...Read more
28/02/08 | Portugal 'a popular destination for second home seekers': Portugal is a popular destination among those seeking a second home abroad, one expert has said.Rhiannon Williamson, the director of ShelterOffshore.com,...Read more
14/02/08 | Portugal 'could attract more Canadian visitors': People who have invested in Portuguese rental accommodation could soon see more demand from across the Atlantic, a news website has suggested.Canada.com...Read more

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Why invest in Portuguese property?

With its warm, pleasant climate, a lively Mediterranean culture and strong travel links with the UK, Portugal retains a strong attraction for British buyers looking for a second property abroad.

The government in Portugal introduced strict building regulation laws in the early part of the 90s - meaning that construction of new properties has slowed considerably during the last decade. Because of this, the Portuguese property market has risen steeply in recent years.

Currently, Portugal is fourth on the list of popularity for UK overseas property buyers - with the Office of National Statistics estimating that Brits bought 5,100 homes there in 2004/5. The Portuguese government is committed to raising this number as it sees future growth as being of economic importance.

Mortgages are typically fairly easy to source in Portugal - and providers in the country pride themselves on their flexibility and the speed of service they are able to give.

Moreover the country remains one of the quieter holiday home investment destinations - and so attractive property in appealing regions can be found at cheap prices, even today.

Few restrictions exist when buying for personal use - although buyers using their purchase for the purpose of an investment will have to gain approval from the Portuguese Institute of Foreign Trade. The government is planning an overhaul of all property taxes - and this could have far reaching implications on future growth in the country.

At a time when increasing numbers of Europeans are looking to migrate to different parts of the continent, Portugal remains a very attractive destination, because it is a very pleasant place to live. Because of this, many analysts rate it as an extremely solid location for anyone looking to invest their money in property.