Hi Australian Investor
The difference between spain and Portugal is obvious and the proof for that are many, one of them is that the Spanish are comming over to Portugal to invest. The Spanish market is known for: High density, low quality, Small units and low security (just to take a few example). I know that there are exeptions but this is generally how the market is in Spain and the main reason is the difference in the Building law (or how they practise it) in both countries. Portugal is known for low density, high quality and larger units (you get more m2 for your money). There are of course exepetions here as well but they are few.
Would I invest in Portugal today? No! I would wait till October - November, that will be the time when you have many units out for sale (that have been rented duirng the peak season) and also here the Vendors will realise that next years rental will be a disaster for many. The market will pick up late 2009 or early 2010, than you will be one of many that want to invest. This means that the vendors will have the indications by spring 2009 and wait to sell at that point (if my theory is correct???). So we can only speculate, but my oppinion is based on observing and talking to the network of investors that works cross Europe.
Good Luck
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