Portugal to start hotting up

Portugal is poised on the crest of an investment wave according to experts in the area who are predicting property in some regions rising by up to 360% in the next decade.

A new airport, new air routes and even talks of a large film studio that would be complemented by other multimedia attractions, are adding to the optimism.

Portimão Cãmara is currently negotiating the construction of the largest film studio in Portugal, in an estimated €10m deal. The most likely location is a four hectare site in Portimo, to the Exhibition and Fairs Park and the Arade Pavilion. Talks are being led by the internationally acclaimed actor António de Almeida, who lives in Hollywood.

Contact with investors, who are both Portuguese and foreign, are now underway, and more detailed information about the project is expected soon. José Manuel Lopes, of the Algarve Film Commission, said the investment was a 'priority' to trigger the cinema industry in the region.

The fact that the country has opportunities for those investors wishing to buy in popular tourist areas as well as good quality houses away from the main holiday hotspots, allowing them to enjoy the good weather and natural environment in relative peace and quiet is in its favour.

Martin Bowen, UK Sales Director for Profile Europe (UK) Ltd, says: 'Portugal is on the crest of an investment wave, with estimates of increased interest for up to 10 years. The prognosis therefore for investors is exceptional, particularly in view of predictions of property in some regions of Portugal rising by up to 360% in the next decade.'

Lisbon is popular with young people and its conference centres attract not just global political meetings but artistic exhibitions and music. The country is also famous for its wine and port.

Yet equally accessible are areas like Alentejo which has a stunning coastline and is free from the tourist crowds. Portugal also offers diverse landscapes, including lush plains, arid areas and national parks.

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