Your observations are spot on - I know the development you are referring to.
The area to invest for Capital Growth is the South Obidos Lagoon area.
Before I go on too much - I am an agent selling in this area, BUT - we have invested a lot of money ourselves personally here and we are looking to start a new business in this area - in other words, we fully understand the potential in this area.
Furthermore, I have local contacts with the local council and developers who reassure me this is the one place to look at. In the last year - our investments here have increased by 125,000 euros.
For serious capital growth - you should check out the Perola da Lagoa resort. It is right on the lagoon edge and surrounded by 5 star golf course resorts which will be complete by 2012. For a Google Earth map of the developments and the area - please email me at jeffm@iqpropertyinvest.co.uk and I'll forward a copy to anyone who is curious.
Alternatively please visit our website at Specialists in the sale of discounted off-plan worldwide properties for investment purposes » IQ Property Investments Limited » Welcome and look at Lagoon Village development

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