Portugal 'on the crest of a wave'

When it comes to the Iberian Peninsula, many people seem to neglect the charms of Portugal…

Whilst Spain is known as a property investment and tourist location, rivalled only by France for the number of British buyers, the Portugal has plenty of qualities which those involved in the investment property sector there are naturally keen to talk up, claims Assetz.

James Aitkin, Director of Quinta properties in the Algarve, stated: "It's paradise, on the basis that it has everything that one wants from a holiday - it has the most sunshine hours you can have in Europe, it's easy [to get to] from all European airports, particularly the UK - easyJet have just made their hub here." To all this he added the attractions of sporting and children's facilities, a wide variety of restaurants and the widespread speaking of English as a second language by locals.

With all this has come a very good market for investors, Mr Aitkin added, saying: "Popularity, purely on property prices, has gone through the roof." This is not least, he suggests, that there are advantages over Spain, such as the lack of high-rise developments along the Algarve Coast. While not everybody may be so concerned about the architectural view, those who are, it would seem, will find Portugal preferable.

Spain overdevelopment helps Portugal

This view is certainly that of Mark Bowen, UK sales director for property firm Profile Europe. He recently told fly-2let.co.uk, who also cites what many see as overdevelopment in parts of Spain as something which will temp some to try its neighbour instead.

He commented: "This is not to say that Spain is not a good investment, but rather that Portugal is flavour of the month and in my opinion is on the Crest of a wave which will see regions increase dramatically over the next five years."

Success for Portugal's property market has been tipped by others too. These include Sunscape properties, which last year forecast that the next seven years would see a 300 per cent rise in property prices thanks to the development of new attractions such as a new Formula One motor racing circuit, more golf courses and an international theme park.

With so many positive predictions for the future, it may also be interesting for investors to hear that the legal side of matters is similar to English law, with Mr Aitkin stating that "the legal system is very similar to the English as long as you buy a freehold or a flying freehold", adding: "You can buy a property unencumbered once the lawyer has checked out if there are any charges on it and that there is a land registry."