Portugal gives investors the chance to buy beyond their limit

tony nguyen

With property prices falling in certain areas across Portugal, property investors are able to buy properties that would have been unobtainable in the past.

The number of enquiries that property in Portugal has received in the past few months has seen a significant increase, according to leading overseas mortgage specialists.

The growth in interest is said to be a result of bargain properties in the country.

Overseas mortgage expert Conti has said that Portugal is the third most popular destination for overseas property buyers seeking a foreign home loan.

While some investors will want a property in Portugal for personal use, the strong tourism in areas such as the
Algarve, provides opportunities for rental income.

Claire Nessling, overseas mortgage expert, said: “Portugal may still be in a recession and stuck with the label of one of Europe’s so-called PIGS (Portugal, Ireland, Greece and Spain), but it has managed to escape the type of property crash experienced by Spain.

“This is due to its tighter lending conditions and stricter planning laws which have helped to prevent

UK buyers can benefit from the pound’s strength against the Euro which makes property prices even cheaper.

Nick Marr, director of overseas property specialist Homes Go Fast, said: “As sterling strengthens against the
Euro, investors in Eurozone countries are able to get more for their money.”

Transferring money to Portugal

If you are looking to invest in Portugal, think carefully about how you will send money from UK. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency

So if you are sending money to Portgual– which you will inevitably have to do if you are looking to make a property investment, be
sure to compare the foreign exchange rates before you buy your overseas currency.

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