Portugal - The pleasures of Portugal

Article Date: 2007-10-15

Property investors in Portugal can smile at the introduction of a 'straight' five-year term, interest-only loan for buyers in Portugal targeted at high net worth individuals. Purchasers will be able to repay their loan at maturity from their assets. This ensures monthly payments are kept to a minimum and purchasers are allowed to use their cash in more efficient ways. Apparently this type of cash flow is in high demand for purchasers in Portugal and most of these type of loans are only available for purchase in the United Kingdom. This emergence indicates that Portugal attracts high-end investors, as some luxury resorts offer luxury properties costing over £1m. In addition, the Government's recent investment into the Algarve will include the building of 10 new five and six-star hotels and luxury resorts over the next few years. The best news is that mortgage can be arranged in Sterling, Euros, Swiss Francs and US Dollars.

The Algarve is a popular destination, incorporating sunny climate, beaches, culture and lifestyle. The addition of golf courses in the region has appealed to numerous ex-pats or holidaymakers who enjoy a sedentary lifestyle. The hosting of the Portugues Open at the Central Algarve has rocketed property prices. Alentejo, lies just above the central Algarve and comprises beautiful coastline. Prices are much lower. Alentejo spans east-west from the Atlantic to the Spanish border. Its the "bread basket" of Portugal, producing various foods and wines and is the ideal location for pensioners or people scurrying away from the busy city life in order to seek rest and relaxation. It will boast at least 25 golf courses within the next 8-9 years - making it profitable to seek investment in this property now before the golf courses are built as this will most definitely cause an escalation in property prices. It is said that with the development of a new theme park, a Formula One racing track and additional golf course would help to increase tourism in Portugal by 300% over the next seven years. People from all of Northern Europe are also tired of taxes and rules and are selling their businesses in search of a more relaxed lifestyle, a lifestyle which allows one to indulge in the pleasures of Portugal.

Written by Janine B © Asset-Property.com

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