Innovative property investments
Portugal Property Investment News
Portugal set to establish new hub
Plans to build a new international airport in Lisbon, Portugal, have been announced by the country's prime minister Jose Socrates, it has emerged.
Costing up to €4.9 billion (£3.7 billion), the airport is described by Reuters as one of the country's biggest infrastructure projects in recent years. The increased accessibility to the country may also benefit those with investment property in Portugal.
With passenger numbers reportedly expected to rise to around 21 million by 2020, and the country being a popular European destination among foreign property investors in the UK, the new airport is needed to take Portugal forward, said Mr Socrates.
An improved transport infrastructure to add to Lisbon's current international airport Portela could provide easier access for tourists and new opportunities for property investors in emerging areas of the country.
"The works will have a positive impact on the economy, with more employment and economic growth," Santander chief economist Rui Constantino told the news provider.
Faro airport, Lisbon airport and Sa Carnerio are Portugal's busiest airports respectively in terms of passenger numbers, according to Aeroportos de Portugal traffic statistics.
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