Portugal attracts overseas property buyers
Overseas property buyers are increasingly considering possible opportunities in Portugal, it has been revealed.
According to currency specialist FC Exchange, the European country is proving to be an attractive option because it offers much lower property values than many other nations.
This, it stated, is one of the factors which is helping to draw foreign property buyers away from established rivals such as France.
Nick Fullerton, managing director of FC Exchange, commented: "We are seeing a distinct shift in the number of people choosing Portugal rather than France for property over €750,000 (£591,000)."
He said many of the people who are choosing to enter the Portuguese market are lifestyle buyers who have no interest in selling their property in the short-term to make a profit.
Instead, these buyers want to get as much as possible for their money while the pound remains very weak against the euro.
The comments come soon after Simon Perks of Santander Totta told the Resident that Portugal is "synonymous" with quality among both British and Irish property buyers.
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