Portugal Property Market News

With Europe’s economies still in crisis, what’s the outlook for buying property abroad?

A recent report has been released by the Royal Institution of Chartered Surveyors, the following articles have summarised the findings:

From Property-Abroad.com:

The latest data from the Royal Institution of Chartered Surveyors shows some improvement in activity and sentiment in the Portuguese property market, but reports that continued weak demand is still putting downward pressure on prices.

a similar report on the International Business Times states that:

The housing market in Portugal is still in negative territory, despite registering an improvement in July over June, the latest figures from the Royal Institution of Chartered Surveyors (Rics) show.

On the other hand the report has produced some optimisim:
Stride, insurance specialists has released an article on why Portugal investment should be considered by property owners.

People interested in investing in European property should consider Portuguese property after research showed that property confidence in the country had improved.

and from PropertyWire:

‘Unlike in Spain and the US, oversupply is not an issue in Portugal. The official statistics show no evidence of over building prior to the economic downturn and new vendor instructions have been falling all year. Therefore, once the economy starts to recover, Portugal will not have to cope with the residential inventory issue that other countries face,’ …

In fact, in some websites there are suggestions that now really is the time to buy with fantastic opportunities available:
An article on HiFX states that Europe ‘offers great investment opportunities’:

Portugal, Spain and Ireland offer “some wonderful investment opportunities” for those keen to purchase a buy-to-let home.

So, maybe now is the time to buy abroad?

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