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Portugal was recently tipped as number three in the '20 best places to make money' by Channel 4 TV programme A Place in The Sun, and was only beaten by the higher-risk markets of Poland and Romania.
It was estimated the potential growth in the Algarve region alone, over the next 10 years, would be up an impressive 360 percent. This figure is based on the value of houses, return on investment and potential for lettings.
The Algarve is very popular for UK investors as it has wonderful beaches, which are just a two-and-a-half hour flight away from London, and with the introduction of more low-cost flights it is becoming a very affordable option. The Algarve is also home to some of Europe's best golf courses and has over 300 days of sunshine every year. There are an enormous variety of properties available, from expensive developments, such as Quinta do Lago and Vale do Lobo, to more affordable developments where investors can buy apartments with shared pools from around £100,000 or opt for fractional ownership schemes, which often cost less then £30,000 and have excellent rates of return. The Algarve is a popular haunt of the rich and famous, with celebrities such as Alan Shearer, Michael Owen, and Ronan Keating, all owning properties there. It is also a favourite holiday destination for the likes of Cristiano Ronaldo and Chris Evans, among others. Rob Shaw, marketing and operations manager, for Spanish Algarve Properties Ltd, says: “Portugal has always been a favoured destination for those looking for a holiday home, but has long lived in the shadow of Spain. However, the last year has seen a dramatic rise in the number of Portuguese property sales, and the shrewd investor is starting to realise that Portugal in this current climate offers far more. Portugal hasn’t suffered the same overdevelopment that Spain has incurred over the years and with a €21bn grant to help further develop the country, Portugal is in a strong position, which is making it the canny investor’s, number one choice.” Spanish Algarve Properties is now marketing Colinas Da Boavista in Tavira, on the Eastern Algarve. Tavira is an area that has been over looked until now, but with favourable transport links from Faro Airport it is an area which will benefit from a new found wealth over the coming years as it matures. Colinas Da Boavista is a private complex built alongside the River Gilao, offering lovely city views and boasting traditional winding streets, beautiful churches and a peaceful atmosphere. There will be a selection of one, two and three-bedroom apartments available, set in landscaped grounds with a communal swimming pool and incorporating Italian designed kitchens, wood flooring, electric shutters, double glazing, fireplaces, fitted kitchens and Jacuzzis. Rob continues: “Colinas Da Boavista is also ideally placed to enjoy the many leisure facilities close at hand, with Benamor and Monte Da Ria golf courses, along with sandy beaches, all just five minutes away. With the continued growing investment in the area, it’s clear to see why Tavira is fast becoming one of the most sought after property locations in the Algarve.” source: homes worldwide |