Portugal: foreigners are more likely to buy property in Algarve

Portugal: foreigners are more likely to buy property in Algarve

Algarve resort attracts more foreign property buyers. Some get here accommodation to move after retirement, others want to invest money.

Real estate markets most other Portuguese cities, including Lisbon, Porto and is continuing recession. The country is experiencing economic crisis, growing unemployment.

In Portugal, a large external debt, so in the near future the government will have to act in a tight economy. Local people are less interested in buying real estate. True, in contrast to neighboring Spain, Portugal did not suffer from oversupply.
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Algarve property market is less affected by the crisis only because the local resorts, especially Vilamoura, popular with tourists, regardless of the economic situation in the country.

Among the investors who invest in real estate Vilamoura, including the famous Portuguese football Luis Figo and Cristiano Ronaldo. This city is considered one of Europe's finest resorts. It is famous for the development of golf industry, in addition, there is a pier for a thousand ships.