Portugal has leapt nine places from 12th to 3rd position as the UK’s favourite place to buy property around the world according to the annual top 20 survey conducted by A Place In The Sun magazine. And more tourists and Fly to Let investors are expected to flock to Portugal’s Western Algarve following the recent opening of the Autódromo Internacional do Algarve, a brand new state-of-the-art motor racing track near Portimão.
The Algarve is already renowned for its golf courses, beaches, water sports, culture and good food and wine. With the new venue, the region is expected to welcome a further one million tourists a year.
In November it hosted the Portuguese round of the Superbike World Championships and Formula 1 testing took place in December. Other major international events are scheduled and there is talk of it trying to lure an F1 race in the future.
As well as the circuit, the complex includes a karting track, technology park, 5-star hotel and sports facilities. At around €195m it is the biggest single investment ever in the Algarve and as well as the creation of over 1,000 new jobs, tourist levels are expected to substantially increase as visitors flock to see the sporting contests, all of which should have a positive impact on the local and national economy
The apartments are something special which even with today’s economical recession will sell, perhaps not as quick but the interest has been great. We will soon have the properties for sale at the Portimao race circuit. To register your interest please contact us at info@eavillas.com
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