Hi all, just wondering what the general consensus is on investing in Portugal?
The current economic climate is obviously down so houses are on the market for well less than previous years (some we are looking at are approx 50%). We are planning for a long term investment so not expecting an immediate return.
We will be looking at holiday rentals (short stay) so relying on the holiday makers for cash flow rather than the Portuguese economy, which hasn’t taken as much of a hit as this region.
We have looked at other vacancy rates and researched a few website of self managed apartments and the numbers seem to work ok.Has anyone had any dealings with international holiday rentals?
Are there any other major concerns we should consider with investing in Portugal?Any thoughts/considerations would be appreciated.
I thought I’d just bump this one up as there has been no comment.
Does this mean don’t touch Portugal investments, or no one has tried?I’d use the same due diligence processes as expressed by others recently for US market.
I have cousins in Spain who are actually real estate agents and they told me to stay well clear of Spain. I’m not familiar with Portugul but would be very cautious about body corporate tenure and holiday letting comes with risks in any country.
You might do better just finding some cheap holiday bookings there?
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