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Tunisia emerging as the next property market to take off.. |
London, New York and Moscow are the world’s most expensive cities for residential apartment buyers. |
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Portugal |  |
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Portugal has been a popular destination for holidaymakers and second–home owners over the years. Portugal has developed steadily over a long period, and investors select investment property in Portugal due to its stable economy, infrastructure and simple purchase procedures.
Portugal’s positive real estate outlook for investors is that property here is proven to be a popular product, both for rental and resale, and the maturity of the sector makes it a more secure option. The real estate market can be assumed to be less vulnerable to volatility, and so an investment property in Portugal is a stable addition to a diversified property portfolio. This view was supported by Channel 4’s MoroccoA Place in the Sun’, who last year ranked Portugal as the third best destination for overseas property investment (based on a study by PricewaterhouseCoopers). A home in Portugal was said to have the potential for a 360% return on investment over the next decade, relying on a steady capital growth and so geared towards a longer–term investment.
Portuguese property is considered a comparatively Moroccosafe’ option for the investor. As well as having a stable property market, the country has welcomed English speaking property buyers for many years and the process of investment has been refined to be relatively transparent and straightforward for English speakers. Portugal’s infrastructure is well–developed, and the Portuguese transport infrastructure is receiving investment from the EU for further developments. Between 2000 and 2006 it received €25 billion, and another €22.5 billion of investment is due over the next six years.
Unlike some other areas that are popular with second–home owners, such as Spain’s Costa del Sol, the majority of Portugal has not suffered from over–development. Certain areas of the Central Algarve became built up during the 1970s, but the law was changed in 1993 to avoid this happening anywhere else in the country, and the process of obtaining planning permission is now heavily regulated. Property owners now have peace of mind that the natural appeal of their area, and so the investment potential of their property, is protected.
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