14th December 2007: Algarve Property News
The property market in Portugal has remained stable and profitable throughout 2007, with strong rental yields for investors. It should receive a healthy 12% growth by the end of the year, according to 'The Move Channel'.
With the double tax arrangements between the UK and Portugal, buying property has never been so simple for investors from overseas.
Portugal is a well-established and flourishing marketplace with a stable economy. At the moment capital growth and rental yields for investors are showing higher returns than elsewhere in Europe. The rising number of low-cost flights and easy access to most regions could be one of the reasons for this growth.
For those looking for buy-to-let properties, Portugal is a very good option, as in most areas, particularly the Algarve, owners can let out their homes for 12 months a year. This is partly due to the warm climate and the fact that many people visit Portugal for its award-winning golf courses, and prefer to go out of season when the resorts are less busy.
With more new resorts due to come on stream across Portugal in 2008, and huge investments in tourism and infrastructure announced by the Government, it looks like the Portuguese property market will build on its success next year.
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