Portugal's housing market remains 'robust'

Despite requesting an economic bailout from the European Union (EU), Portugal's housing market will be unaffected, it has been claimed.

This is according to Jorge Moniz, of Banco Espirito Santo, who believes that the financial aid will have no knock-on effect on the country's real estate sector.

Speaking to Overseas Property Professional, Mr Moniz said that his firm had seen an increase in the number of mortgage applications from UK residents looking to buy property in Portugal.

"It is important to note that Portugal hasn't suffered from a property bubble. On the contrary, over the past ten years up to now, our property prices have been quite stable," he added.

Source: Property Showrooms