Despite reports that Portugal could follow in Greece’s financial footsteps, Stephen Anderson, managing director of Infinito Real, a Portugal-based group of property investors, believes this couldn’t be further from the truth.
“Portugal is stepping up its game in demonstrating its ability to withstand the worst recession in over a century by promoting itself as an attractive prospect for property investors,” he said.
He believes that the easy access to the country from abroad, natural beauty and impressive facilities for residents and tourists combined with high building quality, competitive sales process and a strong buy to let market, has kept Portugal an attractive investment destination for foreign investors.
“Portugal has for a long time been developing itself to keep up with top holiday destinations such as Spain and the Balearic Islands, but only now are we seeing Portugal promote itself in ways that other countries have been doing for years,” said Stephen Anderson.
“The appeal for anyone looking to invest in property would surely be drawn to an area of such popularity that is only now just starting to realise its full potential as a major holiday destination. Lesser countries have managed to attract buyers but are now in trouble due to excessive publicity which generated a high response. The safety with Portugal is that the publicity is factual and not gimmick oriented.”
The increase in affordable flights to the region from many new airports in Europe, thanks to budget airlines including Ryanair and easyJet, has also led to increased interest in the region as a destination for property investment.
“The Algarve is now even more accessible than it already was and is a welcomed prospect for future investors. At Infinito Real we have noticed a huge increase in the number of inquiries for property in this area. Previously, it was rare for us to have an enquiry from a non-resident who was here looking to view immediately but in the last month we have had numerous internet and phone inquiries from people either in Portugal or coming in the next few days wishing to view properties.”
