Portugal predicted to be international property success
News Article Date: Wednesday 21st of October 2009
Portugal will perform well in the international property market in the next year, it has been predicted.
A number of agents working in the country believe it is set to see prices rise in the coming year now that the Portuguese economy has come out of recession, Buy Association reports.
It noted that the Silver Coast is particularly anticipated to do well, with a rise of between 50 per cent and 75 per cent in its prices between now and 2015.
Another area expected to be a strong performer is the Algrave, due to the presence of many golf courses.
The country has also been forecasted to overtake Spain as a buyer destination next year because the Portuguese economy is now growing while its neighbour remains mired in the credit crunch.
Portugal’s average property prices rose by 1.7 per cent in the second quarter of 2009, Knight Frank’s Global House Price Index revealed earlier this month.
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