Portuguese real estate will be cheaper in 2011

29.12.2010 13:40
Portuguese real estate will be cheaper in 2011 Decline in property prices that occurred in the last months of 2010 continues into 2011 - confident professionals of the Portuguese property market.

They urge foreign investors to use the current situation and consider buying a depreciating housing.

Over the last three months of 2010 instead of the expected improvement experts in real estate prices of Portugal has been fixed to reduce them. Number of transactions has not decreased, but people wanting to sell their homes, it became more. In 2011, houses, apartments and land in Portugal will drop even more.

Such data are The Telegraph, with reference to the study of British royal association Surveyors (RICS) and the Portuguese real estate agency Confidencial Imobiliario. The survey involved 99 real estate agencies and 237 real estate companies. Experts estimate that the excess of supply over demand will cause further price declines.

Of course, the depreciation of property not on hand to sellers, but some experts believe that the experience because of the decline is not necessary, because housing prices were inflated by developers, but now falls to an adequate level. Whereas previously the majority of buyers could afford homes in low-cost resort areas of the Algarve and Silver Coast, today they are seriously thinking about buying square meters in the central part of the country.
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Content tags: Overseas property
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