Overseas property news - Confidence in portuguese property on the up

Confidence in portuguese property on the up

Photo credit: Melenama

The latest RICS/Ci Portuguese Housing Market Survey reveals that property professionals believe Portugal's property market is set for a positive 2014, with the Golden Visa scheme and low prices helping to attract buyers from abroad.

Indeed, sales volumes are expected to increase in the coming months, while expectations of property prices are the least negative they have ever been in the report's three year history.

Spokesman Ricardo Guimaraes comments: “The market expects that banks might begin to relax credit conditions, while at the same time there is strong demand from families and foreign investors, with the latter encouraged by the new tax regime for non-residents and the Golden Visa policy.”

“Following on from a very positive upturn in 2013, market conditions in 2014 in Portugal, Italy, Spain and Florida, combined with the strength of Sterling, remain highly favourable to British buyers” agrees Chris White, MD of leading Algarve property agency Ideal Homes Portugal.

Indeed, with confidence returning to the overseas housing market, and British buyers once again looking to the continent for sun, sea and sand, the team from Ideal Homes are returning to the UK for a special event in Birmingham, offering homehunters the chance to meet property specialists for advice and guidance about how to acquire that dream home abroad.

The Overseas Property Show takes place from 16th – 19th May at The National Motorcycle Museum, Birmingham.

Visitors to the show will be able to receive one-to-one specialist advice on every aspect of buying an overseas property, including mortgages, law and currency transfers, as well as browse villas, apartments and townhouses for sale at heavily reduced prices.

“Our new show is small but intimate, designed to make it easy for people to tap into the great value homes available today," explains White, "so that 2014 becomes the year they realise their dream of buying or moving abroad."

Shauna and Gary Miller, who currently live in Stevenage with their children, 5-year-old Ryan and 2-year-old Jenny, found their future home on the Algarve last June, during a three-day inspection trip hosted by Ideal Homes Portugal. Their four-bedroom villa, in the pretty village of Pera near Albufeira, was on the market for €550,000 but the vendor accepted their offer of €412,000.

“We arrived on the Friday with the intention of buying a two-bedroom apartment, which we’d planned to use as a stopgap home while we searched for a larger villa,” said Shauna, a teacher. “Having seen about seven apartments, we asked Ideal Homes to show us a villa – they did, and we fell in love with it and returned to the UK on the Sunday having put a deposit down on it!”

The Millers’ property is in a cosy cul-de-sac within walking distance of Pera’s amenities, has 180-degree sea views from the back and boasts a private swimming pool. Split over three levels, one of the four bedrooms is in the basement section, where two further rooms remain unused. The property is available for holiday lets until the end of August, after which the family intend to make the permanent move there.

The Ideal Homes Portugal and wider international team will be on hand at The Overseas Property Show 16-19th May to assist other British people wanting to purchase property in, or relocate to, Portugal, Spain, Italy or Florida.

Visitors will also be able to sign up for one of Ideal Homes’s inspection trips, which for many people, including the Millers, are the ideal way to find an overseas home.

TheMoveChannel.com has free tickets available here.

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