Current Investment in Portugal
Portugal has often been overlooked as an investment location and it has historically been Spain that has received most attention. Recently, some of the emerging markets have also hit the headlines but when there are so many opportunities why do the British and Irish still continue their love affair with Portugal? Yes, the lifestyle is important but there are some crucial reasons why we think Portugal offers great potential and at the same time is one of the safest places to invest in the world. We like to think it’s where the common-sense investors choose to be.
When you are out with us we go to great lengths to show and explain what new investment is happening in Portugal but for now here is a quick snap shot of why we expect property values to continue to rise for the foreseeable future. Remember by becoming a Berkshire Hathaway HomeServices Portugal Property member we will keep you up to date with all the latest investor news.
It’s not just the Eastern markets who benefit from a great boost from the EU. Did you know Portugal receives 8.8 million Euros a day injected into its economy and infrastructure! With typical market sectors under pressure such as agriculture and fishing it’s the tourist market that generates most revenue for the Government and that’s why the majority of this money is directed towards improving the standards of tourism.
It is difficult to spend some time here and not see the vast improvements underway. From new motorways to new promenades, new golf courses, and new beach front cafes, new underground parking facilities. In fact, everywhere is receiving a new fresh impetus to bring it up to high standards. The Environmental Minister has even gone on record to say Portugal will have the best beaches in Europe by 2013. A brave claim but you will see why when you visit.
New Airport and High Speed Train Link (TGV)
Lisbon’s new international airport will triple the current capacity from 11 million passengers a year to an impressive 33 million. With a total investment in the region of 25 billion Euros the new airport will boast leading edge technology and handle flights from all over the world. It is expected to increase the number of low-cost operators providing many other UK airports with the opportunity to fly directly into Lisbon. Completion is expected in 2017 and until then several million Euros will be spent on the existing airport to achieve a smooth transition.
New TGV – High Speed Train Link: The estimated cost is 5 billion Euros – 80% will come from European Union (EU) funding. It will reduce the journey time from Madrid to three hours making Portugal the fastest beach destination for the greater population of Madrid (six million approx).
Some Other Key Facts
- In the top 3 European countries most likely to make you the most money over the next 10 years, as reported by PricewaterhouseCoopers and featured in A Place In The Sun.
- Despite the current economic difficulties, the Governor of the Bank of Portugal has claimed Portugal will withstand the current issues albeit suffering a few scratches and bruises.
- Loan-to-value mortgages allow you to maximize your investment by borrowing up to 85% of the valuation of the property. With the Euribor reduced interest only mortgages can now be secured as low as 4.7% (correct at time of press).
- Strict planning permission that secure the natural beauty and limit the supply of new properties – keeping demand high.
- One of the safest places in the world. We have no international issues with war, no threat of terrorism and no Mafia to interfere with our stability. Lisbon was recently voted the safest city in the EU.
- And finally, let’s not forget it’s one of the nicest places in the world so irrespective of investment considerations you can still obtain a quick resale, secure rental income and enjoy visiting your second home at anytime of the year. To us, it all stacks up wonderfully!
For more information please write to us on email@example.com or feel free to call us on +44 (0) 800 014 8201 and a member of the Portugal Property team who will be happy to answer any of your questions.
We look forward to helping you find your dream Portugal property!