Property bargains in Portugal
Portugal has always been a popular destination for Brits moving abroad; due to its proximity to the UK, its climate, and its cheap property prices.
Although house prices have risen consistently in many other European countries, property in Portugal is an exception and there are still loads of bargains to be had.
New figures have revealed that the property prices in Portugal have continued to fall, and the figures from the Royal Institution of Chartered Surveyors has shown that poor demand in the country is driving down prices as vendors are desperate to sell.
Figures from the month of May have shown that Portuguese developers reported a strong decline in prices, figures which matched those of estate agents.
Indices for The National Confidence and National Activity fell by seven points to -60 and -39 respectively. With prices falling nationwide in Portugal, there can also be conflicting regional patterns seen. For example in Lisbon, the prices are falling, whereas in Porto there are many new constructions being authorised. The Algarve saw a drop in prices, new buyer enquiries and also agreed sales.
To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’