The housing market of Portugal is really a booming market. Real estate properties are sky rocketing in prices and builders and realtors are implementing great plans to make huge profits through property investment in Algarve. There was a time when non-Portuguese purchasers could buy property in Portugal and places like Algarve through off shore companies and save themselves from being taxed. However, the new law since that came into effect in 2004 prohibits this. Now you cannot avoid paying taxes. The law related to Portuguese Algarve property for sale and other places in Portugal is equally applicable to both Portuguese of Non-Portuguese. There seemed to be some speculation that this will destroy the charm of property investment opportunities in Portugal. But contrary to the speculation, there has been a rise in prices off late and property investment is a flourishing business today. Property Market in Algarve The property market across Portugal is riding high. Places like Algarve are getting more attention due to their being a tourism destination with wonderful picturesque surroundings. If you are thinking of investment in property in Algarve, you are thinking in the right direction. You will generate good profit on your investment because of the rising prices in the market.
The property prices in Algarve Portugal have increased significantly and if you wish to sell your property after a period of 6 months or so, you are likely to generate a profit percent of at least 15-20% on the original price. Such profit margin is excellent for your business. The market of property investment, second home, villas and real estate is every growing. Over the past five years it has seen a tremendous rise in property demand from both foreign as well as local buyers. Reasons for popularity of Algarve Property There are certain factors which have contributed to the price rise for property in Algarve and investors eyeing this beautiful place. First the property in Algarve is comparatively cheaper than other regions in Portugal. And the booming market has made Algarve a hotspot for investors. So, if you invest right now, you can expect great income from the property down the line a year or two. Second, the media attention to the place, the tourism industry and wonderful beach line makes Algarve an attraction to the foreigners. Foreign property investors are investing good amount of money in properties in this region. Third, the development taking place in Algarve is also a reason for increasing investor attention. Better infrastructure, road facilities, increase in urban centers, shopping centers, villas, hotels, restaurants, and real estate has made the property market hot in Algarve. Fourth, the real estate market of Algarve has been solid and stable for more than 5 years and it is becoming more concrete.
The Algarve villas, the buildings in fishing villages and hotels are attracting lots of investors to this place. So, Algarve remains an exotic place for property investment opportunities. Those who are planning to buy property in Algarve are not only buying some fantastic properties but they are also buying source of future income.
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