The price of the average Portuguese house dropped by 4.7% in 2013 according to an infographic commissioned by www.portugalpropertysale.co.uk.
PortugalPropertySale.co.uk is a small boutique firm based in London, the firm specialise in the promotion of carefully selected property that is available for sale in Portugal’s popular Algarve region. The firm have first-hand knowledge of the Portuguese property market, this knowledge is complemented by their English-speaking agent located in the Algarve region of Portugal.—
The firm say on their homepage, “We have specialist knowledge of property in the Central Algarve, in particular the internationally acclaimed golf resorts of Vilamoura, Vale do Lobo and Quinta do Lago. So whether you are hunting for a luxury villa by the fairway or a lock-up-and-leave apartment in one of these resorts, we can assist you”.
The owners of the firm have a number of international property websites and many years experience when it comes to the handling international property sales. PortugalPropertySale.co.uk are a member of the Portuguese Chamber of Commerce, the National Association of Estate Agents (NAEA) and the Association of International Property Professionals (AIPP), the firm regularly participate in and can be found at a number of high profile property exhibitions and conferences.
To promote their services PortugalPropertySale.co.uk commissioned the creation of an infographic, the infographic revealed some interesting statistics about the current state of the Portuguese property market. The statistics that can be found in the infographic would suggest that the prices of Portuguese property are currently depressed and maybe in a buyers market.
According to the infographic (a full size version of which can be found by visiting this link), house prices dropped by an average 4.7% throughout Portugal last year but the Algarve region saw the largest price decline, house prices in the Algarve region of Portugal dropped by 5.8% in 2013.
The decline in property prices has also seen a decline in construction, the Portuguese construction industry's production index was down by 19.4% in 2013, construction industry wages were down 12.1% and employment in the sector was down 15.9%.
The construction industry's decline in production and the generous mortgage subsidies that are being offered by the Portuguese government could mean a supply shortage. A person considering the purchase of a Portuguese property may wish to act now whilst the prices are depressed, if a supply shortage did occur it could lead to rapidly increasing prices if or when the market for Portuguese property picked up.
Name: Mark Stubbles
For more information, please visit http://www.portugalpropertysale.co.uk/
Release ID: 30641