A survey of several Algarve real estate has revealed that most believe the market has bottomed and is now turning up.
On Monday Portugal’s Economy Minister Álvaro Santos Pereira embarked on a two-day trip to London to introduce the government’s latest strategy to promote holiday homes in this country, the ‘Residential Tourism’ campaign.
Recent legislative changes are sure to attract significant attention from foreign investors interested in obtaining a visa for Portugal.
The order No. 11820-A/2012 is now strengthening the granting of a residence permit to foreigners for the purpose of carrying on an investment business in the country (ARI).
Portugal is the third best country in the world in which to invest in a second home, after Spain and France, according to readers of the British magazine ‘A Place in the Sun’.
Spain, Portugal, Greece and, to a lesser extent, Italy, all immersed in the European debt crisis, are experiencing second-home property price declines. The countries' housing markets have been battered by escalating debts, recent austerity measures and deep uncertainty in the financial markets.
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