Hi Frediokl
It is simple really. If you can not afford to buy a property in the Algarve, the best option is the Silver Coast. Just remind you that the climate is different, Algarve climate is unique in Europe and that is mainly the reason why I and many other non portuguese have choosed to actually live here. Of course there are other issues as well, but the climate is for me the number one issue. My partner is from the Lisbon area and we lived there for a short time, so I definitly know that there are a huge different between Algarve and the northern part of Portugal. Just so you go in to this with open eyes and accept the fact that you buy a different consept than the Algarve, but you might prefer that? The prices are lower that is a fact and there are reasons for it as well.
Algarve will always be number one in Portugal, that is the prime location and that is why you pay a bit more.
Good luck
Quote:
Originally Posted by frediokl
I'm currently renting a place in the Algarve and am thinking of buying somewhere in Portugal. But at the moment I am not convinced the Algarve is the place to buy. I can't see there being much capital apperciation, its already too expensive and with all the building going on I'm sure the supply is going to outstrip demand. I remember the days when it was impossible to find a place to stay here in August, now its not a problem at all. The days of full occupancy are gone!
Can anyone suggest any other areas in Portugal I should be looking. I know all the talk has been about the silver coast but I am considering Espinho. Its still relativly cheap, about 120K euros for a 3 bed apartment, and with ryanair flying to Porto I think prices should rise as the Brits discover it.
Does anyone know what the long term rental market is like in that area. The plan would be to rent out the property and use the income to pay my rent here in the Algarve. Maybe even leverage it and use the rent to pay a mortgage on a one bed place here. Two for the price of one!
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