Portugal Housing Market

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The Portuguese housing market has survived better than many of its European neighbours, particularly Spain; house prices are stable, although they have increased around the capital, Lisbon. There has been much new development in the last thirty years, but unlike new buildings in some of the Mediterranean resorts, in the Algarve the developers have been reasonably sympathetic to the traditional architecture of the region, and the holiday complexes are usually attractive, well maintained and aesthetically pleasing. Many of the new holiday homes incorporate traditional features such as the distinctive, highly-ornate chimney pots, and flat roof terraces which are so typical of the Algarve region.

Purchasing a property in Portugal is a straight- forward affair providing you buy from a reputable agent. Here at PortugalProperty.com Europe’s leading and most experienced Portugal Real estate agency we can help people interested in buying and selling property in Portugal. There are two major traps that the unsuspecting buyer can fall into, one of which is multiple ownership. Old properties are often owned by several members of one family, so the buyer needs to make absolutely sure all the vendors are named on the deed of purchase. The other pitfall is the fact that the land on which the property stands is nearly always purchased separately, so that needs to be remembered when sale documents are being drawn up. At present strength of the euro against the Sterling has weakened, and property in Portugal seems as cheap as ever. 

As with buying a house anywhere, you must do your homework on currency. Bear in mind that with large scale renovations it’s very likely to cost much more than your initial estimate, something which often comes as a shock. Unlike recent horror stories that have been heard regarding building regulations for properties in Spain, providing you employ a reputable lawyer, Portugal Property purchases are safe, and usually trouble-free.

Property in Portugal is different from town to town. Prices can vary drastically; from the Luxurious golden triangle in the Algarve were you find the quite stunning towns of Quinta do Lago and Vale do Lobo and villa prices start at around €1,000,000 and go up and beyond €10,000,000. Maybe with a slightly lower budget you might decide to look to the East Coast of the Algarve, possibly Tavira property or then again maybe the up and coming Silver Coast region, just north of Lisbon. Here you might find a villa of similar size for around €250,000.
 


For further information Portugal's current and past Property markets contact the team via email on: info@portugalproperty.com or call free on 0800 014 8201

Published in: Portugal Property