Innovative property investments
Portugal Property Investment News
Redevelopment to open up new Portuguese market
A new wave of redevelopment in Portugal could open up new opportunities for overseas property investors, it has been revealed.
Local authorities in Portimao recently approved plans to construct new tourist attractions and amenities in a scheme which should regenerate the area.
As a result, foreign property buyers could potentially cash in on the influx of new visitors by investing in the market.
The work will be carried out in an abandoned area by the River Arade at a cost of 90 million euros.
Family-friendly attractions such as an aquarium and planetarium will form part of the redevelopment, as well as new public areas and playgrounds for children.
Many of the outdoor areas will include aesthetic features such as fountains and waterfalls, making it a good communal space for visitors and tourists alike.
Construction of the new facilities is set to commence some time during 2008.
Recently, Portugal was described by the Irish Independent as a country with a "strong" economy that offered "excellent" opportunities for overseas investors.
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