Portugal's Silver Coast Property Values to Increase 50-75% in Five Years

Property values on Portugal's silver coast are set to grow by at least 50 - 75% over the next 5 years it has been stated.

The emerging region has some of the finest beaches in Europe, and has never reached its full potential, according to Azure Overseas. The firm believes that the damage done to Spain by the credit crunch and over-development will lead to more and more people favouring Portugal property for holiday homes and holiday home investments in the coming years.

"Portugal and the Portuguese have been much more responsible about development density on the Silver Coast, and now that we have all seen the damage over-development has done and continues to do in Spain, it is likely to stay that way. Portugal is already a close second to Spain with British lifestyle buyers, and we think that its popularity will continue to grow in the coming years," said Frank Crowley, Azure director.

The firm also pointed out that Portuguese property prices are currently a lot lower than in Spain, not counting the current array of distressed opportunities in the latter. This, they say will be rectified from 2010 onwards, when Spain's over-supply problems continue to cause prices to fall, whilst Portuguese property values on the Silver Coast will grow at above the established market average of 10% per annum.

Azure Overseas is known for having a large selection of cheap property abroad, and the firm is currently marketing Portuguese property for sale from just over £100k.