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Portugal Property Market Update

Portugal Property Market Update

The Portuguese property market records 12 months of growth, with outlook for 2015 equally positive. “If you’re looking to buy property in Portugal, now is the time.”

 

Bold words indeed from Chris White, Founding Director of boutique real estate agency Ideal Homes Portugal, but the figures certainly add weight to his claim.

 

Simon Rubinsohn, RICS Chief Economist says “ the recovery real estate in parts of the euro area is continuing to gain ground with Ireland, Spain and Portugal all seeing more favourable trends in both occupier and investment markets.”

 

The year began well for the Portuguese property market, with Statistics Portugal (INE) reporting a 1.22% (1.6% in real terms) increase in prices during the first quarter of 2014. Now, the latest RICS/Ci Portuguese Housing Market Survey has revealed that sales volumes have reached their highest level since 2010, when the survey was originally launched.

 

The figures are leading many to conclude, as Ideal Homes Portugal’s Chris White observes, that now is the time to buy, before prices begin to rise sharply. For buyers looking to pick up a second home, or even a main residence, Portugal is packed with bargains.

From this 1 bed bargain apartment, in the Sesmarias area of Carvoeiro, with fabulous rental potential for only €160,000 to

this beautiful 5 bed villa, on an exclusive development near Alvor, for only €640,000.

 

Chris White, Founding Director of Ideal Homes Portugal says  “Buyers looking to get maximum value for their money in Portugal need to act fast. There are still bargains available, particularly in the Algarve, but demand is on the up and logically it follows that prices will continue to rise during 2015.

 

The upturn in the Portuguese market during 2014 is certainly reflected in the success of Ideal Homes Portugal. The company has trebled its workforce during the year and opened a new office to accommodate the larger team, with former Dragon’s Den star Duncan Bannatyne officiating at the opening.  Figures just released for the last 2 years trading show that gross sales have increased from €15 million in 2013 to over €22 million in 2014 and early signs are that 2015 is going to be a bumper year.  White concludes,

From a professional perspective it’s really exciting to be involved in the Portuguese property market right now. There’s a sense of confidence and anticipation spreading across the sector. I can’t wait to see what’s in store in 2015.

 

To find out what could be in store for you through Ideal Homes Portugal in 2015, please contact our team by Freephone on 0800 133 7644, by email at info@idealhomesportugal.com or visit our websitewww.idealhomesportugal.com

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