Property in Portugal remains popular

The Silver Coast

Property experts have been advising clients to look beyond the Algarve - with its pockets of overcrowding - and invest instead in homes 45 minutes’ drive from Lisbon on Portugal’s Silver Coast. Barbara Maddison, UK sales director of Praia D’el Rey Golf & Beach Resort, says, “The Algarve used to be the most popular area. However, it is now rather overrun with Brits and over commercialised. In other words it is too popular now, with many of those looking to purchase in Portugal now looking elsewhere.”

According to Maddison, the Silver Coast is now the up-and-coming area in Portugal. “Many Brits are selling up in the Algarve and moving up to the Oeste Region, which is located just north of Lisbon. This area is still very Portuguese, with farming the main source of income for the locals. It does not die in the winter because most of the locals are Portuguese. The cost of properties is so much cheaper than on the Algarve – so there is still room to make money in this area”, Maddison explains. She adds, “There is no average price for Portugal because you have three areas that need to be considered: Firstly, the Algarve which equals expensive, secondly the Silver Coast which equals mid-range, and lastly the countryside and Inland where prices are cheap.” Maddsion estimates that if a buyer is looking at purchasing a two-bedroom townhouse he/she could expect to pay 390,000 euros in the Algarve, approximately £220,000 on the Silver Coast and £100,000 inland.

But what of the place itself? The Silver Coast stretches from Porto down to Portugal’s capital Lisbon and hugs the North Atlantic coastline. It is home to beautiful beaches, amazing cliffs, quaint fishing villages, lush rolling countryside and some of the most fascinating historic sites in Portugal. Here one can discover pretty villages and a real Portuguese way of life. The Silver Coast is a particularly good bet for those with holiday lets in mind, thanks to the new A8 motorway which has cut journey times from Lisbon to the Silver Coast. It considerably opened the atmospheric towns of Caldas da Rainha and Turcifal, not to mention pretty villages such as Peniche to tourists and investors.

There is a wide range of property available on the Silver Coast. One can find traditional farmhouses in need of renovation. However, there has also been a fair amount of developments popping up and luxury villas with pools and apartments in complexes are easy to find. For example, Praia D’el Rey Golf & Beach Resort is less than one hour from Lisbon and close to the medieval village of Óbidos. The village is considered to be one of the jewels of Portugal, with narrow winding streets, elegant whitewashed buildings, ancient churches and a magnificent Moorish castle whose high protective walls encircle the town.

Access to the area is becoming even easier as more and more airlines now offer frequent flights to Lisbon. The properties at Prai D’el Rey have been built in traditional Portuguese style with quality fittings, well-maintained gardens and traditionally cobbled roads. Prices start from just £135,000 for a one-bedroom apartment and top of the range villas are available for those with a bigger budget.

Posted on: Portugal

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