Portugal has long been popular with the British; indeed, in the Algarve alone 50,000 properties are owned by the Brits and Irish. Among the country’s attractions are its 300 days of sunshine a year, a low crime rate, a low cost of living and a society and infrastructure welcoming to Brits and English speakers.
As the Algarve, the southernmost part of the country, is a well-established market, investors have tended to look for value elsewhere. “Property in the popular golf resorts of the Algarve is now priced high,” explains Chris White of Appreciating Portugal (www.appreciatingportugal.com). “Lower prices can be found further north towards Lisbon and the Silver Coast, where a new property market is emerging due to a new motorway linking the area easily to Lisbon and the rest of the country.
“A new trend is emerging for well-located rustic, rural properties, many in need of some restoration, and property further north along the Green Coast, beyond the beautiful city of Porto, can be purchased for as little as around €30,000. However, the weather here is not as warm as further south.”
One of the more intriguing new developments along the Silver Coast is Bom Sucesso, near the medieval town of Óbidos. Bom Sucesso calls itself a “design and golf resort”, and thirty-six of the most renowned Modernist architects have combined to design a series of townhouses and villas that will eventually total 601, around an enjoyable Donald Steel golf course. Those who do not play golf should at least go on the 17th tee, just for the view.
The Douro Valley also has its passionate advocates, amongst them Ian Cunningham of international agents Escapes2.com. “It is a spectacularly beautiful, unspoilt region,” he enthuses. “This UNESCO Heritage Site is as far away from the cosmopolitan glitz of Lisbon or the bustle of the Algarve as you could imagine. It has traditional culture and rugged terrain, verdant scenery and all development in the region has been built with extreme care, with the aim of quality prevailing over quantity. Porto, the country’s second city, is just over an hour away. Prices are increasing at a healthy rate and this region has been named by market analysts as one of the prime areas to watch.”
Read the full article in out August 2009 issue.
