Portugal tipped for 'discerning' property buyers

Portugal has a "quietly successful" property market, according to one specialist.

The Mediterranean country might not be as "big and brash as Spain", but it has a steady overseas property investment market, said Nick Marr of Homesgofast.com.

He added that the market displayed consistent "steady capital growth" and that it was popular among "discerning buyers".

"I would say it's more of a sophisticated crowd that is going to Portugal. It's a market that is expanding as well - the Silver Coast is an example," said Mr Marr.

"Despite the strong competition between France and Spain and all the emerging markets, such as Bulgaria and Croatia, Portugal is always going to be attractive to people.

Mr Marr added that people were now trying to get away from the resorts in Spain as and that Portugal was less "fish and chip-sy" than its neighbour.

According to the Instituto Nacional De Estatistica, more than 11,000 building permits were licensed and more than 6,600 buildings were completed in the third quarter of 2007.

Overseas Property News posted on 21/04/2008 15:54:47