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Portugal Property Plainly Ends The Reign Of Spain For Brits
August 19, 2009Article by Ray Withers
The reign of Spain as a premier investment location for sun seeking Brits is almost over as property in Portugal,edges ahead in popularity.Portugal is fast building a reputation for quality, exclusivity and transparent property ownership in a market that has slid relatively little in the recession.
Spain, on the other hand is representative of illegal land deals, tacky building and has experienced massive property price drops.Now, another disparate report condemns property in Spain – this time from Greenpeace that claims protected coastal areas in Spain are under threat from illegal builds and land grabs from profiteering developers.
The report Destruction at all Coasts 2009, says up to 8,000 kilometres of coast are threatened. It looked at 233 protected areas and found that 120 of them are under threat from construction, pollution or infrastructure.
The report also indicates that the world economic downturn, which has hit the Spanish property market hard, has not, however, acted as a buffer to protect endangered areas as there are some 562,000 properties, 29 golf courses, 51 harbours and 14 commercial centres either under construction or have planning approval in protected areas.
Portugal has local authorities and a government committed to protecting the coast by limiting development and expectations for builders to blend their new homes in with their surroundings.If you’re looking at the ever-popular Algarve, then check out the Condominio-Panorama, Lagos, Algarve, Portugal.
A five-star development built high on hills overlooking the city of Lagos with wide-ranging views over the area and out to sea, the newly released development is low risk as the flats are already finished and waiting for the new owners to move in.Prices start at £242,000, that is 20% below market value plus the developer will give a 7% cash back to cover purchase taxes for two-bedroom apartments.
Other larger properties include three-bed apartments, duplexes and penthouse suites.Another long-term favourite with British expats and holidaymakers is property in Madeira, Portugal, where the he Azulara resort, Funchal, is sparking a lot of interest.The resort a range of apartments and villas with breathtaking views over Funchal and the ocean, and is a trendy new development with a top quality architect designed finish.
The one to four-bed properties cost from £222,000. Upmarket four-bedroom villas with a pool fringing a golf course estate come with a £1 million price tag.Each property comes with an en-suite bathroom. The two and three beds also come with their own private veranda.