According to some reports, Portugal is likely to see sustained growth in the coming months, even as other European countries take a hit from the economy and the housing slump. There are several key indications of growth available here, including the fact that Portugal is a smaller market than Spain.
Additionally, the country did not push aggressively in marketing to draw in the number of investors that Spain saw in the last few years. More so, Portuguese property developers should not be hindered by the overwhelming risks that the Spanish markets face.
As reported in the Portugal Resident, Simon Perks, who is Deputy General Manager of Santander Totta in London said, "The Spanish marketing should not be a concern for Portuguese developers." He said this in reference to the country's mass tourism destination.
He continued, "Portugal is synonymous with quality and British and Irish non residents view the country as a good and solid investment." Many of those in the UK are buying second homes in Portugal more readily than in the past.
More so, Portugal property prices are likely to continue to grow. Some are expressing growth as high as 12% for 2008's goal. The country has an established, strong and stable economy.
Additionally, investors are seeing growth particularly strong in golf communities and second home seekers.
