Distressed Properties Create Investment Opportunities in the Algarve
Britons looking for an affordable second home or income-generating rental property might find what
they’re looking for in the beach paradise of the Algarve in Portugal.
The Royal Institution of Chartered Surveyors (Rics) reports an expected increase in distressed
properties in Portugal in the first quarter of 2012 which presents opportunity to British investors
who are looking for a good deal.
Rics senior economist Josh Miller suggests that this is the ideal opportunity for Britons looking
for a second-home or rental property to branch out and grab a bargain which offers fantastic views
and an enviable location in an area that boasts high letting demands.
Escape from the average UK home price of £228,385 and soak up 300 days of sun as you enjoy an
inviting collection of sandy beaches, and an excellent rental market that will provide you with an
additional source of income when you’re not using the property. For Britons used to the high prices
of the British property market, even more so compared to London property prices, prices in the
Algarve will be refreshingly low.
In addition, with Portugal’s strong economy and low cost of living, houses for sale in the Algarve
present an excellent opportunity for acquiring holiday homes. This will allow Britons to extend their
property portfolio to this sunny location to boost the local economy and provide an excellent escape
from the bustling streets of London and the wider UK area.
Portugal boasts a minimum temperature of around 14°C and is accessible by a 2.5 hour flight from
the UK making it the ideal location for a weekend in the sun. That, coupled with the friendly nature
of the Portuguese people and the fantastic food, culture and natural surroundings makes Portugal
an excellent holiday destination.
Written by Lisa Elliot