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Portugal Poised to Overtake Spain in Property Investment - 30 September 2009

Now is the best time to invest in Portuguese property, say several real estate experts.

The reason behind it - is that property prices in Portugal are currently at a low, one that is much lower than in its competing neighbor and longtime overseas investment favourite, Spain. But with Portugal coming out of a recession—the country’s gross domestic product grew by 0.03 per cent during the second quarter of this year— property prices will only increase in 2010, making now the time to buy and the next five years the time to reap the rewards.

Portugal’s Silver Coast (Costa de Prata) is one of the greatest regions in demand, with property values estimated to rise by 50 to 75 percent by 2015, according to forecasters. Here, miles of deserted beaches, olive groves and vineyards stretch out along the central coastline, and quaint villages and medieval towns like Obidos boast original city walls and picturesque castles, making the area a favourite attraction in Europe and much less-developed alternative to many Spanish coastal towns or costas.

Like Spain in prior years, golf resorts and properties are also drawing holidaymakers and investors to Portugal. Properties and resorts around the infamous Algarve Golf Course in the country’s southernmost region have popped up in recent years, while on the Silver Coast, courses like Praia d'el Rey and Rio Maior have spurred a throng of interest by developers.

Although surveys indicate that Spain still remains popular with UK investors (and will likely still be one of the top choices), the country continues to experience a credit crunch, giving Portugal an advantage in the investment game for the first time in a while.

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