Investors 'should do research' when buying Portuguese property

Those looking to invest in Portugal's property market should make sure that they conduct thorough research when planning a purchase.

That is according to Suzanne Clay, European business development manager at Barclays Buying Abroad, who advised investors considering Portuguese property to do their "homework".

Aside from carrying out their own research, she also said that people should find a solicitor either in Portugal or the UK to help guide them, adding that it is "crucial" to take professional advice.

Ms Clay commented: "Taking professional advice is crucial. Find a local solicitor in Portugal or a specialist solicitor in the UK but do your homework.

"It may seem a good idea that the real estate agent or developer introduces you to their solicitor but obtain quotes and have meetings with a couple to compare costs."

She also advised that investors should educate themselves on the tax issues which their property purchase will entail.

Overseas Property News posted on 01/05/2008 12:45:09