Property in Portugal is 2 times cheaper than in Montenegro

Property in Portugal is 2 times cheaper than in Montenegro

Portugal is one of European countries with inexpensive coastal real estate. House on the coast in Portugal can be bought 1.5-2 times cheaper than a similar property in Montenegro, according to ee24.com citing propertyshowrooms.com and statistical services of Portugal and Montenegro.

The most popular region to buy summer homes in Portugal is Algarve. Average price of houses and apartments in Algarve increased by only €2 for the past year to December 2013, from €1,291 to €1,293 to per sq.m. Experts are not sure about the prospects for growth in 2014. However, there are favorable predictions for 2015, and therefore buying of villa on the coast in Portugal in the coming months could be a good investment.

Anita van Huson, co-founder of the portal Meravista, said that before the crisis property prices in the Algarve had been overestimated, so the fall had been particularly strong. Now, she said, the region's economy started to recover.

Average property prices in Montenegro in Q3 2013 showed growth of 15% and reached €1,259 per sq.m. nationwide. On the Adriatic Sea resorts square meter costs over €2,000, including in Budva - €2,418.

It should be noticed that Portugal is a warmer country with more developed infrastructure. In contrast to Montenegro, Portugal is a member of the EU and grants a residence permit for property buyers.