Silver Coast attracts foreign property buyers
Investors who are considering the Portuguese market are increasingly looking beyond areas such as the Algarve, it has been revealed.
According to the Times, areas such as the Silver Coast are becoming more and more popular with property buyers from other countries.
This was partly attributed to the recent surge in house prices in the Algarve, as values have quadrupled in the last 5 years.
Furthermore, the Silver Coast is not as established with holidaymakers, which means it is not as busy during the peak tourist season.
Patrick Thornton-Smith, a second home owner from London, commented: "When we go to the Algarve out of season and it rains, there is precious little to do, and in the summer you can't avoid the English."
Speaking to the newspaper, he added that authorities in the Silver Coast are enforcing various building restrictions in order to stop it becoming overdeveloped.
This comes after currency specialist FC Exchange revealed that Portugal is also attracting many investors because it offers much lower property values than many other nations.
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