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 Portugal more ‘upmarket’ than Spain?
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Friday, May 09, 2008 |
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Overseas investors are tiring of Spain’s ‘fish and chips’ sensibility, argues one expert…
John Reilly, the managing director of overseas property agency Buy Abroad, explained: "People are looking for a country that offers a mix of traditional things like tavernas rather than fish and chips and English pubs."
”Portuguese property developers like to describe this in terms of Portugal being more upmarket than Spain, although this is not quite the whole story. The reality is traditionally in the Algarve, it's more expensive to buy than it is in most regions of Spain, and therefore it's attracted a more affluent resident or investor."
”But while the Algarve offers one attraction, the Silver Coast is another. This region is not a top-of-the range destination because unlike the Algarve it is not established. Instead, it is an up-and-coming location which an investor in emerging markets may be interested in.
"Because of the prices [there] you are getting a lot more for your money compared to the Algarve. It's considered an up-and-coming area. For what you pay for an apartment in the Algarve you can get villa in the silver coast, in places like Nazere."
Connie Vitto of Quadrant Overseas Property, highlighted a third possibility: “The Blue Coast, lying between the Algarve and the Silver Coast, has seen little development but has a wealth of beaches, archaeological sites and a proximity to some national parks. It's an area of outstanding natural beauty with a spectacular coastline and long beaches."
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