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Posted On: 01/07/2009
Portugal Property Robust in Current Climate, ResearchAzure Overseas have announced the findings of recent research into the Portuguese property market. The Portuguese property market is remaining robust in the face of the global slowdown according to the overseas property specialists, who mentioned the Silver Coast as a particularly promising location for holiday home investment.Frank Crowley director of the firm said:
"Portugal has a semi-mature property market, but its growth to such was not as accelerated as say the likes of Dubai. The Silver Coast is particularly strong during global adversity because prices and new development grew in terms of rising demand, and over-supply has never become an issue, nor has there ever been such fever pitch demand that forced an unnecessary inflation of property prices.
"For those reasons, you could say the credit-crunch has come and gone where the Silver Coast is concerned. Prices remain at the same level as they grew to up till Q3 2008, demand is steady and property is still selling without the forced price drops we are seeing almost everywhere."
Azure Overseas have some excellent properties in Portugal, including 1 bedroom apartments on the Silver Coast priced from £109,000, which are excellent holiday home investment properties. The Silver Coast is an area where tourism is big, but still has the potential to grow massively. According to the Telegraph the Silver Coast offers buyers the traditional Portuguese way of life, "where people still use donkeys" as well as beautiful beaches, traditional townscapes and authentic food.
Silver Coast apartments should really be bought as a holiday home investment, so owners can use the property without affecting the rental yield, which should be around 4% regardless. With the 4% as spending money it becomes free holidays in one of the world's most picturesque coastal areas. The steady growth in value of between 5% and 10% per year is where the investment comes in. However, after the global slowdown Silver Coast properties could see some impressive growth as was seen in 2007.
Azure Overseas also have Algarve property; the Silver Coasts big brother. Big brother because the Algarve came onto the scene well before the Silver Coast and is now a semi-mature, if not mature market and people hoped the Silver Coast would mirror its rapid growth, which it did to begin with.
Azure Overseas' Algarve property is in Fuseta. The Fuseta Ria Resort offers 2 bedroom 2 bathroom apartments and 3 bedroom semi-detached villas priced from £264,000.Azure Overseas have many other excellent properties in Portugal, find out more by visiting the site.
About Azure OverseasAzure Overseas is a member of the National Association of Estate Agents (Overseas) and adheres to the highest standards of customer care and stringent market research/due-diligence.
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