Portugal property tipped to remain strong

Wednesday, 21st January, 2009 by admin
The Portugal property market is in a solid state and is set to remain so, it has been suggested.

Property portal Homes Worldwide has said the market in the country is showing signs of holding up well, citing the Quintas de Obidos resort on the Silver Coast as an example of a development that is still growing.

It quoted managing director of the project Miguel Abreu, who said the country’s prices are remaining steady

He added: "In fact our prices have increased 16 per cent since we began work on the site in 2007, and they are set to increase again in the next few months."

Mr Abreu said one key feature of the Portugal property scene is that planning regulations prevent over-development.

Last week the Times said that northern Portugal is one particularly favourable area for overseas investment.

It pinpointed the Silver Coast and Lisbon as the places to find the best homes.

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