Time to buy: a Portuguese real estate market hit bottom, now only upstairs

July 3, 2015

Time to buy: a Portuguese real estate market hit bottom, now only upstairs

Specialists call the current situation in the Portuguese real estate market is ideal for experienced investors: price, particularly in the Algarve, decreased by 40% compared to pre-crisis levels.

 

"The market won't fall down lower, and now will continue to grow, so that it is now now it the right time to buy a property in Portugal" - say realtors.


Time to buy: a Portuguese real estate market hit bottom, now only upstairs | Photo 1 | ee24Since 2006 Portuguese government invests a lot in the tourism sector, according to the ambitious national strategic plan to attract tourists to the country. It is paid off: €10,4 billion in Portugese economy in 2014 and plan to increase by 3.1% to € 10,7 billion 2015. Tourism market is on the rise, the unemployment rate decreases and as a result - there are all prerequisites for the stabilization and growth of the real estate market.

The last two years the Portuguese property market was unstable, especially in the premium segment, which corresponds to European trends. Recovery took quite a long time: more than modest growth in prices in the first quarter of 2015 - 1.53%, though it is higher than last year. Nevertheless, Portugal, has all chances to increase growth rates of real estate market, with further development of the tourism sector.

 

According to the materials of propertyshowrooms.com

Photocredit Shutterstock.com

 

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