Portuguese market experiences growth
Ongoing economic problems across Europe are not impeding growth in the Portuguese housing market, it has been revealed.
According to research by Knight Frank, house price inflation in the European country slowed down slightly during late 2006 and early 2007.
However, figures from the organisation show that the market has picked up again in recent months.
During the first quarter of 2008, the rate of house price inflation rose to 3.8 per cent.
This is despite the fact that many countries across the world are currently experiencing a downturn.
Liam Bailey, head of residential research at Knight Frank, commented: "While house price growth in Europe and America continues to slow or even fall, pockets of strong growth remain."
The figures are likely to be welcomed by overseas property owners who have invested in the Portuguese market.
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.
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