News
Portugal offers bargain house prices but 'quality' is important
Wednesday 25 June 2008
With prices falling in some overseas property investment destinations such as Portugal, there are bargains to be had, but investors need to be careful about their choices.
That is the advice given by property advice service, BuyAssociation, which has said that for those that have the cash, now is a great time to buy, but quality is key.
Paul Collins, property editor at BuyAssociation, advised those that had already invested in countries such as Portugal - where prices are decreasing - to "hang on" as "things will come around".
"Property markets are cyclical," he insisted. "So things could turn upwards in the future".
Mr Collins continued: "Quality property in any market will always sell well because it is the most desirable - it's what people want. If you can find a good deal on a top class development that's in a really good position then you will do well in most markets."
The latest Global Property Guide survey has shown house price falls of minus 4.3 per cent in Portugal so bargains are there to be had.
Located in south-western Europe, Portugal is the westernmost country of mainland Europe. The Atlantic archipelagos of the Azores and Madeira are also part of Portugal.
That is the advice given by property advice service, BuyAssociation, which has said that for those that have the cash, now is a great time to buy, but quality is key.
Paul Collins, property editor at BuyAssociation, advised those that had already invested in countries such as Portugal - where prices are decreasing - to "hang on" as "things will come around".
"Property markets are cyclical," he insisted. "So things could turn upwards in the future".
Mr Collins continued: "Quality property in any market will always sell well because it is the most desirable - it's what people want. If you can find a good deal on a top class development that's in a really good position then you will do well in most markets."
The latest Global Property Guide survey has shown house price falls of minus 4.3 per cent in Portugal so bargains are there to be had.
Located in south-western Europe, Portugal is the westernmost country of mainland Europe. The Atlantic archipelagos of the Azores and Madeira are also part of Portugal.
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