20/06/07 - Portugal Attracting More Investor Interest

The Silver Coast area of Portugal is attracting more and more interest from property investors…

It boasts some of the best beaches in Europe and the traditional treats of authentic Portugal, but recently it has not only been sun-seeking holidaymakers flocking to the picturesque Costa de Prata

Experts such as Paul Collins, overseas property editor at BuyAssociation, has already tipped the area as a hotspot for 2007, saying it is "one of the areas to look out for" this year. And some investors have already caught on to the trend.

A British couple from Maidenhead opted for a two-bedroom flat on a golf development near Obidos and found that an investment away from existing hotspots could be particularly lucrative.

Mark and Kerry Woodhead told the Telegraph they plan to let out their apartment and that the Silver Coast is ideal for this. "People are crying out for a more cultural type of holiday where you experience what the country is like, rather than going to a place saturated with new developments," said Ms Woodhead.

Tough planning restrictions

And it seems as if the Portuguese authorities have measures in place to keep development under control. Savills Select Resorts' Pauline Bonnani told the paper the Silver Coast has "quite tough" planning restrictions.

Build density has to be kept below a certain level, while the height of buildings is also restricted.

And for the buyer who is interested in something other than new developments or golf resort properties, there are a myriad of choices in the Silver Coast area.

With farming remaining the main source of income for residents of the area, DIY fans looking to buy a second home in Portugal can take their pick from a number of traditional farmhouses in need of doing up, while there are also luxury villas and quaint village cottages up for grabs.

Easy access for investors

It is also easy for British investors to reach the Silver Coast as it is located between the capital of Lisbon and the city of Porto. Both these cities boast excellent links to the UK by means of its airports.

Porto's Francisco Sa Carneiro Airport is the hub of many direct low-cost flights to cities such as London and Liverpool.

Portela Airport in Lisbon offers flights with operators such as BA and bmibaby to the English capital, Birmingham and Manchester.

Once in Portugal, the Silver Coast is also well connected by road, as the country's largest motorway runs through it.