Figures from Infinito Real, a Portugal based company, see enquiries double from January 2009 to January 2010
Infinito Real, a Portugal based company started and run by property investors, have had a busy start to 2010. Their volume of enquiries has increased on average 17% month on month from October 2009 to January 2010 and January enquiries hit a high of just over 500, compared to half of that in 2009.
The appeal of Portugal as a destination to invest or buy a holiday home has always been popular without becoming overcrowded like neighbouring Spain. With the end of the recession in sight, owing to the UK market showing steady increases for the last 7 months, the Portuguese property market has seen a shift in buyer attitude with investors wanting to make a purchase which they like and not just for profit purposes. Stephen Anderson, Managing Director of Infinito Real believes the recent “boom” in business to the Portuguese property market can be attributed to a number of factors.
Stephen comments “The start of 2010 has seen more positive press coverage for the property industry as a whole and with less focus on the global recession, confidence to invest has started to increase. We have seen that a number of buyers who postponed their plans in 2009 are now ready to move which has created a backlog of buyers wanting to move as soon as possible. The small increase in the exchange rate from £1 – €1 throughout most of 2009, up to £1 – €1.15 has provided a 15% “discount” from previous months and has had a profound effect.”
A further notable change for Infinito Real has been the vast reduction in the number of distressed sales, a forced sale with a discount of at least 20% from the original price. Even though distressed sales have always been available, the economic downturn saw a considerable increase of people in financial difficulty including both individual sellers and also larger developers.
Stephen continues “Ironically, 2009 was the best possible time to buy a property in Portugal and the worst time to sell. At the peak of the recession we had in the region of 150 “distressed sale” properties and with high appeal to the majority of investors they sold very quickly. We currently have less than 10 and with the restabilising of the market place I think it is unlikely we will see any further bouts of desperation from developers slashing prices.”
After working in the real estate industry for 25 years, Infinito Real has one of the largest portfolios of property for sale in Portugal. They offer services in financial advice including mortgage and taxation, interior design and legal and contractual advice, all learnt from their own experience of buying property.
Play the Game:-
The game of Investing in Property has changed and the trick is to change with it before the majority realises what the new rules of the game are.
Real estate markets in various parts of the world are picking up again as investment companies, private equity funds and lifestyle buyers/investors have returned to investing in property, a safe bet.
People will still want to move from rainy and cold countries in Northern Europe to the sunny south and are picking up deals where they can. Portugal hasn’t suffered nearly as badly as most, and much of the standing stock has been bought up by investment companies already, which have kept prices at a fairly high level and markets stable.
Overpriced properties have been corrected and with discount deals available for property investors, 2010 will be an interesting year. Avid investors will stay ahead of the game by going in before the majority of buyers realise prices are rising or beginning to rise.
Make sure you play the game, contact us to arrange Property Inspection Visits at:-
TELEPHONE: 0845 308 8511 from UK
+351 289 313 325 from Portugal
Your Algarve Holiday Home Airport welcomes you:-
Faro Airport is a modern facility that serves the entire coastal area of Continental Portugal’s southern-most province.
Positioned in a prime tourist area, this airport receives thousands of visitors per year, mostly holiday makers coming to enjoy the summer months, with property owners enjoying stays throughout the year.
An aesthetically pleasing building, the delightfully colourful airport terminal fits perfectly into the climate and ambiance of the Algarve region. It is equipped with all the services necessary for passenger comfort, making it one of the most important airports in the country.
The airport of the Algarve in Faro is an excellent example of how airports as an infrastructure have enhanced the value to the tourism sector in Portugal.
We are happy to help you book your journey, contact us now to find out more!
What we can predict with some certainly is that Portugal is a hot-spot for Property Investment
What an amazing year 2009 has been. Although the world of property and investment seemed to have been turned upside down recently; the final year in the noughties produced a plethora of exciting investment opportunities.
But where should we be looking to invest in 2010?
The art of predicting where or where not to invest has changed dramatically over the last few years. Whilst one could assume that the international recession would have limited investment opportunities the opposite has happened creating numerous potential deals to be had in Portugal. For example, some property prices have dropped dramatically and distressed sales have risen to such a degree that a few huge opportunities still exist.
Portugal with its temperate climate, limited land and strict planning rules, offers an excellent opportunity to invest in all sectors of the property market. A popular holiday destination with Europeans and the Portuguese themselves, amongst others, the South Coast Algarve bucked the trend by registering fantastic % occupancy for accommodation in 2008-2009.
However like most good things in life these opportunities will be snapped up pretty quickly so if you are interested in hearing more please contact us at:-
TELEPHONE: 0843 308 8511 from UK
+351 289 313 325 from Portugal
Are you looking for what could easily be “the bargain of this year”? Whatever you do…do NOT miss out on these stunningly located linked villas overlooking the shimmering Atlantic Ocean. Check out the views from the individual roof terraces, it’s the ideal place to own your dream holiday home.
If you haven’t yet heard about Benagil situated in Central Algarve, you have now!
Two sandy beaches, located either side of this fabulous development that sits atop the hardy cliffs with savings of up to 100,000 Euros!! Yes you’ve read that correctly! We cannot fail to be impressed and you cannot afford to miss out on this amazing opportunity.
Toss in more than 300 days a year of sunshine, and you’ve got a future so bright you’ll need those shades.
If you are looking for a bargain property in Portugal or maybe you’d like more information or would like to tour these beautiful homes, get in touch with us quickly at :
TELEPHONE: 0843 308 8511 from UK
+351 289 313 325 from Portugal.
Well with less than a month to go until Christmas what will you be buying your loved ones?
Christmas Holiday Breaks
With many people fed up of the doom and gloom of 2009’s economic melt down, and the media induced depression throughout the UK and Ireland, many families are looking to get away from it all for a week or so over the festive period.
Portugal is always a popular choice during this time, and the population once again swells from around the 20th of December up to the New Year. With flights dropping drastically in price, you can find many budget airlines offering returns from just €6 per person (from most major UK & Eire airports).
Many property owners who aren’t using their property in Portugal over this time will find the few weeks rental a welcome boost to the Christmas coffers, with the high demand areas generating anything up to €1,000 per week for a 2 bed apartment.
Portugal Property for Christmas?
Although it’s unlike to be a stocking filler, or indeed a regular gift, there has been a huge demand on property viewing trips throughout December this year. The idea of spending a few days in the sun (yes it is still sunny here) avoiding the pandemonium of Christmas shopping back home, and finding a great holiday home or investment property appears to be quite appealing.
Although the market has picked up substantially from the 1st half of the year, there are still some beautiful properties up for grabs. These recently finished townhouses in the Silver Coast are a great buy at just €136,000.
East West or central?
With so many different areas to visit and explore sometimes it’s hard to know where to start, the Algarve is a relatively small area, just over 150KM from East to West, but each area has an amazing array of differences that aren’t always recognised on first impressions!!
The Eastern Algarve is generally considered to be the area, from Faro up to the Spanish border. With the main area of interest being Tavira. This is a typically working Portuguese town, which has developed over the years into a popular tourist area. Retaining almost all of its original structures, boasting over 20 churches, and many winding cobbled streets. There has been a fair few million €’s spent on the area recently, with the central avenue along the river front, being pedestrianised and allow the cafes to have a more open feel, with the tables and chairs lining the streets to sit and watch the world go by with a Galló (milky coffee) and a croissant.
This area has been hailed over recent years as a fantastic investment in property. Although this is mainly due to the property prices being at a less inflated price than the more touristic areas in the Algarve. Whether the huge growth predictions will come true remains to be seen! What is true, and remains so is your money will go a bit further here. With property starting at just €125,000 for a 2bedroom apartment with a swimming pool, it is noticeably cheaper than its “competitor” areas.
Other areas of interest along the East coast are, Olhaowhere there is a fabulous promenade along the sea front, with plans to built a new marina extending from the current one, with a large hotel chain building a 5* hotel and development in the area, this could well be a place to watch. Fuzeta is also a popular choice for both foreigners and locals alike, with a great market and a fantastic beach. Not so built up as some areas there is still a majestic local charm about watching the fishermen going to and from the sea with their spoils of the day, which you will likely end up eating at one of the many restaurants!
If your interested in purchasing a propertyin the Eastern Algarve then you will have a good choice, and for now anyway you can still pick up a front line property with stunning sea views without breaking the bank. Lux Tavira is a beautiful development featuring amazing sea views, and with 2 Bedrooms starting at just €210,000 the price is a great sight also!
The last month or so has seen a semi resurgence in the overseas property market. With online searches and attendees at recent overseas property shows voicing their desire to start investing again.
According to one major overseas agent, searches for international property had increased by 32% in September over the previous year.
The general consensus is people are looking at “safe” and secure locations, rather than the more far flung regions which enticed many during the last 5 or so years.
Portugal Property In the Top 5
Portugal property has continued to be a top choice for investors with www.themovechannel placing it at No.4 in their last months top of the charts survey. The same result was also found over at www.Primelocations.com.
Portugal is a well established region, with stability and a comfort factor that people are looking for now. Where a property can still support itself during times of economic turmoil. And still produce lucrative capital gains.
Effect on property for sale in Portugal?
There has been a significant upturn in the number of enquiries from potential purchasers both in the Algarve and Silver Coast region of Portugal. The buyers that have been holding off for the last 6 months are now starting to re gain confidence again.
The reality is, it will take a few more months, before there is any kind of similarity to years gone by, however it is moving towards it again with rapidly increasing momentum.
Many of the bargain properties over the last year have been snapped up by shrewd buyers who were unconcerned with the recession, and one would suggest offering 20% under the sales price in a few months will not be accepted as it may be today.
For most of us this is a good thing as it allows our clients to again see their investments flourish once more, or at least start to spurt a little!
If your looking at buying property in Portugal and fancy a bargain, my advice is to be quick about it !
It’s well known that buying a property at auction can save you a fortune, this goes for property in Portugal too. But with more and more “savvy” buyers looking for a bargain property, or a distressed sale, the competition is fierce.
Record Property Price results
According to to some in the know prices are regularly exceeding, by some margin, the guide prices due to bidding wars from those looking for cheap property.
Graham Barton who features on BBC One’s Homes under the Hammer, said “In a recession these results are amazing. They are the biggest margins over guide I can remember in30 years in the industry”
In an article from www.themovechannel.com, they quote some staggering examples of this.
- A 2 bedroom cottage in Truro in Cornwall for 109% above its guide price of £60,000 in September
- A Grade II listed freehold terrace in Kensington, London for £2.52 million, an amazing 129% over its lower limit of £1.1million to £1.25million guide price.
- Another flat in Kensington went for £615,000, 146% over the £250,000 lower limit.
Perhaps one of the most poignant messages in all this is a quote from Countrywide, Britain’s largest estate agent “The sales most exceeding expectations are in locations “renowned for holding their value or in towns and cities undergoing redevelopment”.
Property in Portugal
Although Portugal property is not the same as the UK, there are many similarities, and its no secret that the UK has been the source of a incredibly high % of sales throughout the country over recent years.
Cheap property in Portugal is becoming slightly harder to find for precisely the same reason as in the UK. Strong areas, such as Albufeira, Vilamoura, Quinta, Vale do Lobo hold their prices well.
A lot of the “bargains” have been bought up by professional investors who have predicted a change in the market woulnt take too long and snapped them up, with the ideal of selling them on in a year or two’s time.
We have sold around 80 properties over the last 6 months, all priced under the valuations by up to 40%, but now it is becoming harder to find. As developers are now starting to increase their prices again as there is more interest.
The Time to Buy is …….
You guessed it, NOW. With the market making an, albeit, small resurgence, confidences are coming back interest rates are low, and thousands of people have been holding off until they see a sign its back. When this happens, there will be huge competition for bargains, and as in the UK the bargains become bidding wars forcing the price up.
So, if you are looking to buy, have a look now. Don’t expect a bargain, but look for one, don’t be sucked into hugely discounted property being advertised everywhere, some of it isnt that much of a bargain!
And of course remember the saying “It’s only a bargain if you really wanted it”
For any information on buying in Portugal, feel free to drop us a line anytime.
Property in Portugal’s Algarve for Sale
These newly built 2 bedroom properties in the picturesque Carvoeiro are truly a bargain! Priced at just €170,000! Click on any of the pictures for more information!
We’ve always been found of this particular area of the Algarve, as it’s become more popular with tourists, the buzz around the town is a mix of the locals sitting watching the world go by at one of the local cafes and the tourists going to and from the magnificent beaches. The beauty is really the combination, not too touristic, not too “foreign”.
Carvoeiro Property Portugal
Without question property in this location is highly sought after. Property in Portugal is generally a safe bet for investors, and here you can combine a lucrative growth with great rental potential.
There are a number of villas for sale in Carvoeiro, as the build density is quite low here these are very popular for rentals, with rents during the summer time in excess of €1,000 per week, and anywhere up to €3,000 if its the ultimate luxury!
Investment of course is all about returns, so generally apartments are preferred with lower entry prices, and higher rental yields, less potential outgoings should there be lean year of rentals.
Property in Carvoeiro
These properties at €170,000 represent fantastic value for money, and will rent for around €1,000 per week in the peak season, generally most properties will be able to cover the running costs of the property for the year, including a mortgage, especially with today’s rates!
There are a number of bargains like these on sale now in Portugal, if you want to take advantage before prices start rising drop us a line now!