In Portugal, the property market is seeing improvements – at least in demand. While investors move from Spain's troubled markets and head to the opportunities through Eastern Europe, many are also taking note of the opportunity that this country has to offer.
Portugal saw growth in 2007, even while other countries did not. They are predicted to see a rise of up to 12 per cent in 2008, much more than countries surrounding them will, especially with the housing market downturn in many areas.
UK investors also find that the tax arrangements that have been put in place between the countries have made Portugal more attractive. With its close location, it offers an ideal foreign investment.
Additionally, reports from TheMoveChannel.com show that property in Portugal is being considered heavily by investors. More people than ever are looking to invest here and that is evident from the number of people searching for Portugal property on their website.
Housing markets in most of the European Union have seen declines due to the credit crunch affecting the global as well as the subprime fall in the US. With looming economic troubles too, investors are being more cautious than ever when looking for investment opportunities. Additionally, lenders are reigning in who they are providing loans to, making it more difficult for the new investors to get started.
With these considerations comes an opportunity for those looking for a property market on the upswing. That is what the Portugal housing market is likely to provide through 2008 and well beyond. Spanish property investors have already turned their eyes to this property and many believe UK investors will also consider it heavily in the coming months and years.
