Prices in Portugal remain stable despite recession

 

Demand for property in Portugal is remaining strong despite the present economic climate, it has been suggested.

Writing for the Independent, Laura Latham stated that the country has not experienced the problems and falls in value that have been seen in other counties, despite sales in the Algarve levelling off in recent months.

This, she explained, is due to the Portuguese government's decision to regulate the construction of cheap properties in order to avoid the market becoming oversupplied, along with the fact that the country's target market is high-end tourism.

Speaking to the news source, property expert Connie Vitto explained that the eastern Algarve is an ideal location for buyers, as it has quieter beaches and lower prices than other areas, as well as being located closer to Faro than the west coast.

Source : The comments come after Nick Barnes of Knight Frank recently told the New York Times that property prices in Portugal have been rising steadily over the past six years.