September 18, 2006
Portugal: Destination Hot Spots
Some ninety percent of all Portuguese property sales to foreign buyers is accounted to Algarve, primarily due to its perfect year-long climate of over 3,000 hours of sunshine and a long stretch of golden, sandy beaches. The average Summer temperature is at 30°C and Winter temperature is at 12°C. The Algarve is also known for its opportunities in sports with about thirty golf courses around the coast. Its very different to the area east of Faro where the development is more slow.
The coastline is mostly lined by tidal marshlands, close to the Spanish border. The area is part of the Rio Formosa National Park and the marshlands are guarded by ilhas or long sand flats. The small resorts along the coast have maintained much of their character. The houses in the main have modest designs but larger properties are surfacing. Two of Algarve’s most exclusive, luxurious and spacious developments are Vale do Lobo and Quinta do Lago. Townhouses with two bedrooms are sold at 675,000 euros and detached villas for three times that amount.
The Western Atlantic coast is cooler and has a less developed property market. This coast is divided into three regions where investment opportunities and/or the ‘real’ Portugal may be found. Popular to holidaymakers and second home owners is the Costa da Prata. Specific favourites are Coimbra, the ancient capital of Portugal, and the medieval town of Obidos with white-washed houses. One of the country’s most unspoilt and beautiful regions is the Costa Verde which runs from Porto to the Spanish border. Amongst the most strikingly attractive medieval town in the reqion is Barcelos and perfect for off-the-beaten-track properties is the countryside to the north.
Known as the floating pearl of the Atlantic, the beautiful Madeira Island is also popular. It is approximately one and a half hours flight from Lisbon. With its astonishing scenery, ideal outdoor living and warm climate, Brits are attracted to this island. For a one bedroom apartment, prices are from £65,000 to £100,000 and two bedrooms are sold at £85,000 to £200,000. Priced from £200,000 to £1 million are detached villas.
Posted on: Portugal
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