Press Release Summary = Property investors with an interest in the overseas market will probably most associate Portugal with the Algarve. Located in the south of the country, the Algarve is the most popular tourist destination in Portugal, whose population more than doubles in the peak holiday season thanks to an influx of visitors.
Press Release Body = Property investors with an interest in the overseas market will probably most associate Portugal with the Algarve. Located in the south of the country, the Algarve is the most popular tourist destination in Portugal, whose population more than doubles in the peak holiday season thanks to an influx of visitors.
The large numbers of tourists travelling to the area has brought prosperity to the area, guaranteeing good rental returns as well as inflating the price of property. However, there has also been something of a negative effect in the eyes of some observers, who consider parts of the Algarve to have become over-developed and over-commercialised. As a consequence, increasing numbers are considering other locations in Portugal that offer an attractive holiday destination with value-for-money property prices.
One such region is the Silver Coast, on the edge of the Atlantic ocean. This area has seen an increase of buyer activity in recent years which has pushed the value of properties up. Despite this, a purchase can be made here for around half the price of a similar property in the Algarve, according to David Rowat of market analysts MRI Overseas Property. He told the Telegraph that a new two-bedroom flat with a sea view can be acquired for less than £100,000 - and will generate about £400 a week in the peak holiday season.
The Silver Coast is becoming popular with a variety of holidaymakers. It has long been a favourite of the Portuguese themselves, while British and Irish tourists have been arriving in ever increasing numbers in recent years.
However, the local authorities are reportedly keen to see that the area does not suffer as a result of its growing popularity, keeping tight control of property developments and enforcing strict planning regulations. Mr Rowat commented: \"The Portuguese . don\'t want to repeat the mistakes the Spanish have made with over-development and I don\'t think they will.\"
Local developers are reportedly keen on exploring the golf tourism niche and that has led to celebrity golfers such as Jack Nicklaus being brought in to design courses and act as golf resort consultants. Previous similar projects in other pats of Portugal have been a resounding success, with one course being designated a \"project of national interest\" following the huge amount of interest it generated in the world\'s golfing community. If this success can be repeated on the Silver Coast, investors in the area will reap the rewards.
2012
