The 2015 outlook for Algarve Property is in our opinion good. The upward trend that started in 2013 and increased in 2014, is expected to continue in 2015, this is despite strong head winds in the form of economic stagnation in the Euro Zone and strong resistance from banks to approve new mortgages, and when they do, the spreads are normally very high 4 to 5%.
There are however many factors that will continue to fuel the recovery in the property market based on traditional and undisputable facts; the Algarve Property is in general very well priced and in value for money is almost unbeatable; with the devaluation of the Euro we expect demand from the UK market and other countries outside the Euro zone, to remain strong; the Golden Visa program remains a magnet attracting foreign buyers from outside the Eurozone, taking advantage of the benefits this program brings, for a small investment of €500.000; the fact that the Algarve wonderful mild weather is simply the best in Europe; the flying time from most European destinations is only a couple of hours away; the Algarve and Portuguese food is simply the best; the people are friendly and welcoming and last but not least, the sun shines almost every day!
For sellers there is also light at the end of the tunnel for the prices of their properties; this because there has been very little or no construction in the past 5 years and stocks are starting to run low, putting upward pressure on prices.
At AlgarveProperty.com we expect a strong 2015 in terms of sales and investments as our property consultants are already dealing with huge a inflow of enquiries from potential buyers and investors.
Trust us to make it happen!
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