Portugal Property Prices On The Rise
Property prices in the Algarve are said to have risen by 11% in the first quarter of 2014. Along with the fact property is still undervalued by up to 10% it makes the region the best place in Europe to purchase property.
An article this week in the Telegraph, which has been confirmed by the OECD (Organisation for Economic Co-operation and Development)
A second report, published by credit ratings agency Fitch, also had good news for the Portuguese housing market. In their Global Housing and Mortgage Outlook report, published earlier this week they stated that " the mortgage and housing market outlook has improved most notably for Ireland, Portugal and the UK". So if you are selling a property at home to finance a purchase in Portugal, now really is the best time!
Chris White, Chairman of Ideal Homes Portugal said " The property market in the Algarve has definately improved over the last 12 months, as a company we have seen a 250% year on year increase in property sales with the vast majority of buyers arriving on Inspection Visits from the UK".
So to recap, with properties being sold at less than their actual market value and the housing and rentals market strengthening at a remarkable pace, there is no better time to invest in your dream home in the sunny Algarve!!
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Ideal Homes Portugal