Portugal named top value destination for travel and property in 2015
- Portugal in top 10 value destinations for 2015 (Lonely Planet)
- Portuguese property prices on their way to stabilising (PMHS)
- Four bedroom townhouse with pool from €249,500 (Ideal Homes Portugal)
Portugal has been hailed as one of the world’s best value places to visit, according to the just released Lonely Planet top 10 value destinations for 2015. The report emphasises the fact that Portugal as a tourist destination is here to stay, remarking upon the Algarve region’s position as trumping prices at other European resort areas.
The Portugal News also recently described the Portuguese property market as “back on track with a strong and positive outlook for the future.” The confidence is representative of the shift that has taken place in the Portuguese market this year, with the RICS/Ci Portuguese Housing Market Survey (PHMS) reporting both new buyer enquiries and transactions as increasing. The report states,
“PHMS results show sales activity continues to pick up, while prices appear to be a step closer to stabilisation. On the back of this, confidence in the outlook continues to strengthen.
“Meanwhile, sales expectations are now more buoyant than at any other time in the survey’s history.”
Chris White, Founding Director of boutique real estate agency Ideal Homes Portugal, and Portuguese property market expert, summarises the current positivity gripping the Iberian country,
“Portugal’s economic journey certainly hasn’t been smooth over the past decade, but there’s definitely a feeling – within the property sector especially – that things are on the up. We’re seeing more enquiries and more sales, both from buyers within Portugal and from overseas purchasers.
“Those looking to own holiday homes tend to be savvy about their investment choice when it comes to property in Portugal. They want top floor apartments with stunning views, along with communal pools and generously appointed balconies, so that the property is an appealing prospect for renting out during the summer months.”
With confidence returning to the market, many see now as the perfect time to buy either a permanent residence or a holiday home in Portugal. Prices have begun to rise – by 1.22% in the year to Q1 2014, according to Statistics Portugal (INE) – but there are still plenty of fantastic bargains to be had.
Areas such as the Algarve, a perennially popular tourist destination, also offer the flexibility of using a second home as a rental property, with many owners making enough income during the peak summer months to cover their mortgage payments year round.
Portugal’s value for money, beaches and golf courses entice many travellers to visit time and again and those willing to look beyond the most obvious destinations can find some impressive bargains. At the luxury end of the market, villas in the eastern Algarve, such as a four bedroom/four bathroom villa with infinity pool and 25,000 sqm estate bursting with olive and carob trees, in the picturesque Santa Catarina area, can be picked up for €1,625,000.
Bargains in glaringly obvious areas are still to be had too. In the popular town of Albufeira, a beautiful four bedroom townhouse with communal pool can be picked up for just €249,500. The price includes modern touches like electric shutters and a central vacuuming system, as well as a fully fitted kitchen and outside BBQ and dining area.
Many have chosen to use the Overseas Property Show as their means of assessing what Portugal has to offer. The show has received over 2,400 visitors already, with five UK cities under its belt. The two remaining events – Newmarket on 25-27 October and Aberdeen from 31 October to 3 November – are tipped to be just as popular. Free tickets are available from www.theoverseaspropertyshow.com for those looking to turn their second home dream into a reality.
For further details of properties currently available in Portugal, call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.