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Overseas Buyers Boost Portugal Property Market

Overseas Buyers Boost Portugal Property Market

According to an article published today in the OPP magazine, confidence in the Portuguese housing market is at a four year high, and this is due to the rise in demand from overseas buyers.

The article states : “Confidence in Portugal’s home market has risen to a new high – and foreign demand has been critical in helping boost the market, say experts.


Sales volumes continue to pick up and prices are closer to stabilising, according to August’s RICS/Ci Portuguese Housing Market Survey.


The national confidence index increased by 10 points and now stands at +23, the highest reading on record by some margin and sales expectations are now more buoyant than at any other time since the survey’s was launched in 2010.


Growth in new buyer enquiries accelerated noticeably over the month and market demand has risen every month for the last year. Agreed sales also rose modestly in August, says the survey of around 100 industry professionals covering Lisbon, Porto and the Algarve.


Ci Spokesman, Ricardo Guimaraes says, “Agents clearly associate the market recovery with foreign demand, linked to the Golden Visa and non-habitual resident programs. These legal and fiscal measures have been critical in changing the trend in the market. The general economic stabilisation is also contributing to the improving outlook.”

Chris White, CEO and Founder of The Overseas Property Show says ” The turn out we have had so far at our shows in Birmingham, Surrey and Leeds absolutely back up this new report. We have had more people through the doors of these shows than past events, the UK market can definitely see that this is the best time to buy a second home in the Algarve, and we expect that this trend will continue with our upcoming shows in Glasgow, Manchester, Newmarket and Aberdeen.”


So if you have been considering a second home in the sun, or an investment property, it would seem that with the exchange rate being favourable, the UK sales market on an upward trend, and now the confidence in the Portuguese market so high, there is no better time to buy your Ideal Home.


For advice and information on property in the Algarve, come and see us at the Overseas Property Show. Full details of dates and venues as well as your complimentary tickets, visit www.theoverseaspropertyshow.co. or call our freephone on 0800 133 7644.