Morning All,
There is a good deal of comparisons going on here between Portugal and Spain but there is one thing you should know. The Spanish developers are moving here in droves.
One area what was a predominantly Portuguese development area, Cabanas, is now nearly all Spanish Developer owned. And why do the come here?
Large tracts of land with planning permissions are less costly than Spain. With the Spanish brining in their own men and own material from over the border (nearby) they can make a killing.
Many Portuguese from 'up north' own second homes in this area and throughout the Algarve and more sales are made locally than to foreigners. Also, property here, once built, stays built, we don’t move the goalposts a few years down the line and pull peoples villas down or build illegally, resulting in the same outcome.
You will find things in Portugal, stress free and a good investment. Spain is on its way out and Portugal is already in.
Also, it has been stated the Spanish are not as easy to get along with as the Portuguese.
There are pro’s and con’s for both places but Portugal has a very long standing relationship with the UK and that bodes well with local mentalities. Remember the Armada !! if we`d lost that battle, the UK would be full of Spanish Type Villas now and I would be eating Spanish Pie-Ella for Sunday lunch and not roast beef and spuds.!
If anyone requires info on Portugal, I live here and have first hand knowledge on where to invest to get a good ROI with attractive rentals.
The area around Silves has just undergone a major transformation with 100 million Grant from the EU, there is also a major world top class golf course just being finished now. All property practically sold out....500 of them and yes they may appear expensive at 4000 a metre but so is a Rolls Royce at 50,000+ a metre. Depends what you can afford, second class or quality.
At the present time its a buyers market in Portugal and there’s plenty about to buy if you know where to go…..and I do.
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