Portugal has always been a popular area for British expats to buy and sell property – around 50,000 Brits now permanently reside there and may more have chosen to own second homes there.
The recent recovery of the Portuguese property market is thought to have been partly caused by foreign property demand. The OGC’s most recent quarterly index report has shown that Portugal has experienced a particular surge in popularity with overseas property buyers – a 60% increase over the previous quarter, and almost 70% over the same quarter year on year. There has been a surge of buyer confidence in the Portuguese housing market, as well as sales in the country, showing that once again Brits are looking to the southern European country for their overseas home. Prices are still falling slightly, but all reports indicate that this is a good point to start thinking about selling your Portuguese home!
Portugal will always be popular with British buyers thanks to the relaxed lifestyle, culinary delights and an enormous choice of landscapes; not just the Algarve, traditionally the most popular area of the country with British homebuyers and tourists – recent reports indicate the popularity of the shores of the Atlantic and the Silver Coast, in part of course due to their more realistic prices.