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Algarve Housing Market As Stable As Ever

15th February 2010: Algarve Property News

Portugal is enjoying an increase in attention at present. The difficulties encountered by Spain throughout the recession are prompting buyers to look to its neighbouring country where prices are more stable.

Portugal emerged from recession in Q2 of 2009 and the economy has since grown 0.7 per cent between the second and third quarters. Last year also saw prices rise according to Knight Frank who reported rises of 1.7 per cent between the first and second quarters and concluded that the country ended their year with prices down just 0.3 per cent compared to 2008.

This indicates that Portugal is a stable market to buy in - good news for many buyers with fears about buying in less established emerging markets. Buying in Portugal is far less risky than Spain, developers are not heavily discounting properties and so you can rest assured that you are buying in a strong market.

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