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Portugal Property Investment News
House prices go up in Portugal
Overseas property investors may be able to benefit from growth in the Portuguese market, new figures have suggested.
According to a study by Knight Frank, house prices in the country went up by 3.8 per cent between January and March 2008.
This comes after growth in the market slowed down slightly towards the end of 2006 and early 2007.
However, the data for the first quarter of this year coincides with a slowdown in the global property market.
Figures from Knight Frank show that during this period, the overall rate of house price inflation across the world slowed from 9.2 per cent to 6.1 per cent.
This suggests that amid the ongoing turmoil in the global housing market, buying an investment property in Portugal could be potentially lucrative.
Liam Bailey, head of residential research at Knight Frank, commented: "While house price growth in Europe and America continues to slow or even fall, pockets of strong growth remain."
According to Country Life magazine, 38,000 Britons now live in Portugal on a permanent basis, while a further 11,000 own holiday homes.
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