Well, its now the middle of September here in Portugal, and the beaches and roads are finally free from the hordes of tourists!
This is a great time of year for the locals, and for those looking to enjoy beautiful weather, its still 30C, without the thousands of tourists around.
2010’s summer was incredibly busy, and also ones of the hottest summers for around 40 years! A great time was had by many at the various summer night clubs and beach clubs that pop up through the summer, and the area laid host to thousands more than predicted which was a welcome relief to many restaurateurs and local businesses.
With the summer now gone, and people getting back to work, Portugal will become a popular area for the golfers, with around 50 top courses throughout the country, and wonderful golfing weather they will come in groves. The Algarve will host the yearly Golf Cup at Victoria golf course in Vilamoura which is always a popular event.
Many visitors are now looking to make their stays more permenant with a great many enquiries in property over the summer, and now the time is perfect to look around and see whats on offer.
If property in Portugal is something on your to do list then please let us know if we can help in anyway.
For those that have not yet had a chance to look through our Portugal Property Buyers guide for 2010, then please make sure to request or download you copy here when you next can.
Not only does it cover the intricacies of buying a property here in Portugal it also gives you a information on all kinds of interesting things, all of which we feel are useful for your future purchases.
I’m not sure where to buy?
If this is your situation, then it’s an essential read, it will cover many different areas of Portugal, from the Algarve, to the Silver Coast and all in between, giving you various ideas on what you can do, and what you can get for your money.
If your serious about buying here, then be as informed as possible, that’s why we made the guide, and if there’s anything you think is missing and might be helpful to others, please let us know and we can perhaps include it in our next update.
There were accolades in abundance for Portugal this week with the front page of the Portugal News reporting. Full story here.
The Algarve lay claim to 2 of the top beaches in the world! The Sao Rafael beach in Albufeira, and Alvor flying the flag for Portugal.
On top of this, the region was deemed to be the most economic to visit, while Lisbon was the second best city break destination.
This all sounds good for those looking to invest in Property in Portugal, which has typically been hailed as a more expensive destination than many of its European counterparts.
With the rise in sterling the affordability for holidays has increased and for those looking to make the most of their hard earned cash, Portugal was once again up there with the best when comparing costs such as average family meal (£27.03 on average for 2 adults and 2 kids inc drinks) An hours pedalo hire just £5.36, half that of Majorca, Brittany or Cyprus.
The article goes on with a number of other interesting statistics on average traveller spending
This is all good news, and although its rare to say it, looks like Portugal is reacting to previous criticisms regarding pricing, and working to attract more holiday makers.
Lets hope that these trends continue and more and more people find their way to Portugal, and discover a paradise just 3 hours from home.
The basic report looks at how much the Algarve economy is based on the tourism market, and with 3 million visitors expected each year from the UK, how the financial crisis has taken its toll.
There is good news in the story, reporting the optimism in the continued construction of new hotels all along the Algarve, eager to open their doors to new visitors.
Good news for potential holiday makers though, the prices are being lowered to attract more visitors, and as one tourist comments “they had chosen Portugal because it was affordable” for a destination deemed as more expensive than many others this is good news.
Lower prices means more competitive holidays, and allows us to attract more tourists.
One thing the economic situation has taught us, is if we can survive through this then at the other end, we’ll be much stronger, smarter and prepared!
Algarve rental agents are reporting the busiest weekend of the year this coming weekend, and August set to be a good month for the tourism industry as a hole.
This is welcome news for Portugal’s economy and for the Portugal property owners who rely on renting their properties out for the summer to pay their mortgages.
Enquiries for properties has seen an increase over the last 6 months, and although bookings are not what they were a few years ago, they are better than expected.
The Algarve has always been a “safe bet” when buying property overseas , and rental income has been one of the constants. Although this has suffered over the last 18 months, we hope that this signals something of a revival and look forward to more visitors towards the end of the year!
This weekend is full of great festivals parties and fast moving vehicles!
Starting today, Friday, until Sunday Faro hosts the annual bikers weekend. Each year this event takes over Faro with bikers and their machines driving down to Portugal from all over Europe.
There are bands, shows, best custom bike competition, and even a wet t-shirt contest!!
If your in the area and wondering where all these fantastic bikes have come from then this is why, the main road in Faro in closed on Sunday with the bikes given a free reign to cruise in the sunshine.
With attractions like this happening throughout the year Faro is a great place to own a property in Portugal with great access to the airport and the main motorway. To see more property for sale in Faro check here.
Le Mans 24hour race – Portimao Autodromo
If you prefer 4 wheels on your vehicles then Portimao hosts the world famous Le Mans 24hour race this weekend at the newly built Autodromo.
A gruelling test of endurance and skill as these drivers navigate this stunning race track for a whole day.
With the weather hitting 40degrees, there’s sure to be some surprises in store for those enjoying the racing from the stand.
Right now you also have the opportunity to purchase a property in the race track development itself. A unique opportunity that allows the owner priveldged access to the race days and the race track.
If taking a spin in a race car is something that you think you’d enjoy, and who wouldn’t? this might be the perfect time to look into your own race track property in Portugal.
The best player in the world is on holiday in Vilamoura just now with his family enjoying some of the Algarves wonderful weather.
Staying in the most prestigious area of Vilamoura if you look for the entourage of paparazzi and body guards you may be able to catch a glimpse of the footballing super star.
With the recent launch of his new shop in the marina, CR7, its clear that he still enjoys his home land.
If you fancy mixing it with the superstars yourself then we have some fantastic deals available just down the road which you can buy just now with discounts of up to €150,000!!! One of the best deals we’ve managed to negotiate in Portugal Property for some time.
Although Portugal is tightening up its mortgage regulations, the UK has now released new rules regarding self cert mortgages, pretty much making them now extinct.
The follow story from Yahoo UK News explains why.
“The Financial Services Authority unveiled new draft rules obliging banks to ensure all mortgage customers can afford their repayments, effectively outlawing self-certification loans and curbing reckless borrowing.
Under the rules, banks must obtain proof of all borrowers income before the loan is approved, the financial regulator said on Tuesday.Changes to mortgage regulation are a key plank of reforms which the FSA hope will avoid a repeat of the unbridled boom in household debt in the run-up to the credit crisis.”We need to build a strong new framework to protect mortgage customers and to ensure that the problems we have seen in the past do not happen again, particularly as the mortgage market recovers,” said Lesley Titcomb, the FSA director responsible for the mortgage market.The draft rules follows initial proposals which were published in October.The new regime would effectively ban self-certification mortgages, where no proof of income is required.Self-cert mortgages, dubbed “liar loans” after they were widely abused, accounted for almost half of all new mortgages between 2007 and the first quarter of 2010, the FSA said.But since the credit crisis, providers have either chosen or been forced to pull out of the specialist mortgage market and currently no such loans are on offer.Mortgage lending by British banks last year fell to the lowest net level since 2000 of 36.3 billion pound compared with almost 80 billion in 2006, according to the British Bankers Association.Punitive interest rates are being applied to those without hefty deposits, while low mortgage availability continues to impair a recovery in the housing market.