Investors Strike Gold In Portugal's Silver Coast

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Mario Ferreira
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Investors Strike Gold In Portugal's Silver Coast

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URL: http://www.homesworldwide.co.uk/europe/ ... id=0048633

Investors Strike Gold In Portugal's Silver Coast

Buyers who snap up properties in Portugal's Silver Coast region could see their investment double over the next few years.
According to property website The Move Channel, property investors in Portugal's Silver Coast region are expecting to double their money over the next few years.


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Live near traditional Portuguese towns. Photo: Portuguese National Tourist Office.

Property prices in the region are currently up to 50 percent cheaper than they are in the Algarve and the area also offers people the chance to explore the 'real' Portugal. Although it is a popular destination for Portuguese holidaymakers during July and August, for the rest of the year the beautiful beaches are practically empty. Visitors also get the chance to see the traditional Portuguese villages which seem almost as if they have stood still in time.

Although more developments are now springing up in the area, due to planning restrictions the coastline remains unspoilt. Those who have bought at the new developments in the area, many centred around golf courses, now hope their properties will increase in value, the same as homes have on similar resorts in the Algarve.

One of the first people to see the potential in the Silver Coast was Eduardo Netto de Almeida, the executive chairman of CampoReal, one of Portugal's most successful integrated resorts outside the Algarve, which was completed in 1998. In fact the resort has been such a success CampoReal has just launched The Vineyards, a luxury addition to the existing Westin CampoReal Golf Resort & Spa. The development features 12 hectares of vineyards and is just 30 minutes from the capital, Lisbon, and a 15-minute drive to the beaches of the Silver Coast. The properties include apartments, townhouses, and villas.

Sr Netto de Almeida says: "The Silver Coast has seen a consistent annual capital growth of around 10-15 percent over the last few years. The region will not end up overcrowded, as in some parts of the Algarve, because planning restrictions are much stricter now than they were in the 1970s and 80s. Therefore, development in this region will happen in a more controlled way."

One couple who have already realised the potential of the area are Camilla and Jason Field, from Huddersfield.

They purchased a three-bedroom townhouse, at the Vila dos Principes development, at the established Praia D'El Rey resort in the Silver Coast for €300,000, just over a year ago. As well as using the villa for family holidays with their three children, they also rent the property out for the rest of the year. A week in July or August starts from £890 and low season prices start from £630, so they are already getting a great return on their investment.

"We have not regretted our decision to buy at Praia D'El Rey as we always discover something new every time we visit," says Camilla. "With a young family familiarity means you switch off instantly when you go away and do not spend days wondering where to eat, where to shop, and what to do. The nearby medieval town of Óbidos is beautiful, while Alcobaça, Fatima and Évora are all charming with plenty of history, and Lisbon is also within easy reach for a great day out.

"As well as a long-term investment we also want to try and get maximum rental from the property, so the range of golfing facilities and amenities at Praia D'El Rey was a big attraction, alongside all the other benefits and highlights of the Silver Coast. You really do feel like you are in the real Portugal here."

URL: http://www.homesworldwide.co.uk/europe/ ... id=0048633
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