Property continues to fall
- Written by Paul Rees
Investors keen to but a property in Portugal may find that there are some good options open to them if they do their research.
So says Stephen Anderson, managing director of Infinito Real, who highlighted the Algarve resort of Vilamoura as a prime example.
He noted that around €1.3 million (£1.2 million) has been invested in the destination to renovate its pedestrian areas, marina and cycle paths.
"As property prices have dropped, Vilamoura has become more accessible to those looking to make a purchase and these improvements and increased interest as a holiday hotspot are great news for investors," he stated.
However, the latest data released in the Royal Institution of Chartered Surveyors/Confidencial Imobilario Portuguese Housing Market Survey shows that there could be room for further falls in value.
According to the June report, real estate price declines in the Algarve region accelerated over the course of the month, with expectations remaining negative in the short term.
