Look to lisbon

For those looking for property in an emerging city, the Portuguese capital offers cheaper homes than Paris or Barcelona...

A recent article in The Sunday Times has cited Lisbon as an ideal European city for UK buyers to invest in property.

There are a number of elements which make the Portuguese capital a good place to buy, most notably the fact it is only two-and-a-half hours flying time from London.

Flights are now available from many regional airports in the UK as well with low-cost operators such as easyJet. This has seen an increase in the number of visitors to the city and has really opened it up as an affordable city break destination.

Lisbon has undergone a huge transformation in the last decade with elegant shops and hotels springing up across the city.

As well as its old world charm the city also offers fashionable Bars and restaurants and there are gorgeous sandy beaches only 15 minutes away.

Many older buildings are now being renovated into modern apartments and there is also a lot of new developments taking place in and around the city, including a new airport which is due to open in 2012 in Alcochete, on the south of the River Tagus, about 11.5 kilometres from the city Centre.

Property in Lisbon is still very reasonably priced compared with many other European cities and estate agent IRG is currently selling two-bedroom high-spec apartments in the trendy Chiado area for £440,000.

For those looking to rent out their properties to tourists, rental rates start at around £550 a week during peak season for a two-bedroom apartment in the Alcântara district, according to www.holidaylettings.co.uk.

Source: www.homesoverseas.co.uk/news